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When FG faced issue of low revenue, budget constrain ( didn’t mention NASS so that ur nerve will calm down) , they put up their thinking cap to device a new financing model. Two things came up, they are Sukuk bond & Presidential Infrastructure Development Fund not tied to budget
The ffg 25 roads were covered under d 1st Sukuk bond. 1. Construction of Oju/Loko -Oweto bridge linking Nasarawa/Benue : N4b 2. Dualisation of Abuja-Abaji - Lokoja (Int’l Airport Sheda Village N3b 3. Dualisation of Suleja - Minna road N3.5b
4. Dualisation of Abuja - Abaji -Lokoja Koton karfe N3.5b 5. Dualisation of Lokoja - Benin road, Obajana -Okene N2.5b 6. Dualisation of Kano-Maiduguri linking Kano/Jigawa/Bauchi/Yobe N4.2b 7. Dualisation of Kano -Maiduguri N4b
8. Dualisation of Kano - Maiduguri linking Kano to Borno (Damaturu-Maiduguri) N5b 9. Dualisation of Kano -Maiduguri (Kano - Wudil -Shuari) N5b ; 10 dualisation of Kano - katsina N3b 11. Kano western by pass N4b
12. Construction of Kaduna Eastern bye pass N4.67b ; 13. Rehabilitation of Outstanding section of Onitsha- Enugu Expressway Amansea - Enugu border N5.2b ; 14. Rehab of Enugu-PH dual carriageway Lokpanta -Umuahia N4b
15. Rehab of Enugu -PH Umuahia tower-Aba township N3.75b ; 16. Rehab of Enugu -PH section IV Aba - PH N3.5b 17. Dualisation of Yenegwe road junction -Kolo-Bayelsa Palm N3.5b
18. Dual of Lokoja - Benin road okene- Auchi N3b 19. Dual Lokoja - Benin Auchi - Ehor N3.2b 20. Dual Lokoja - Benin Obajana junction - Benin section phase 1 Ehor - Benin N3.5b 21. Reconstruction&asphalt laying Benin- Ofosu- Ore - Ajebandele-Shagamu N6b
22. Dual IBADAN - Ilorin ( o to ge) section 2; Oyo -Ogbomoso N5.7b 23. Reconstruction of outstanding sections of Benin -Ofusu-Ore N5b
The completion period is in 2019 for some roads and 2020/2022. Check the roads in ur area and u can comment whether work is going on or not. D beauty is that prompt payment is guaranteed unlike budgetary allocation that could be delayed via so many issues
Will d owner of a construction firm that is now mobilized back to site after sitting down at home for 7years think about what Christian Association of Nigeria said about Sukuk bond? When last did CAN send him money for school fees or house rent? CAN should go and float their own
