Tinubu Inherits Over N16trn Uncompleted Projects
The new President of Nigeria, Bola Tinubu, has officially inherited over N16.29tn uncompleted projects from his predecessor, Muhammadu Buhari.
The projects were identified through the national monitoring and evaluation platform, EYEMARK, which was launched by Buhari in December last year.
The former President noted that the Federal Government could no longer depend on its handful of monitoring and evaluation teams to oversee the vast number of infrastructure projects spread across the country.
He said that given that his regime invested in infrastructure projects more than any other before, it was only fitting to create adequate avenues for close monitoring by citizens.
He said this would close the existing gaps and promote citizens’ participation in governance.
With EYEMARK, the former president said, “The status of projects, the total amount appropriated and dispensed so far are now available in the public space.”
The national monitoring and evaluation platform, EYEMARK, showed that about 33 projects were yet to be completed.
One such project is the Lagos-Ibadan Expressway, which reportedly costs about N315bn. This 126.6-kilometre road is said to be at 85 per cent completion.
The Federal Government had again postponed the reopening of the Lagos-Ibadan Expressway, saying the April 30 date earlier stated was no longer feasible.
The former Minister of Works and Housing, Mr Babatunde Fashola, who dropped the hint, said the development was due to heavy traffic being experienced from the toll gate to the Kara Bridge section of the Lagos-Ibadan Expressway.
The EYEMARK app shows that Julius Berger Nigeria Pls and RCC are the contractors in charge of this project.
Another project is the Bodo-Bonny Road, estimated to cost about N200bn. The 37.9km road being handled by Julius Berger is put at 75 per cent completion.
Fashola recently said work on the Bodo-Bonny Road would be completed in December 2023, even as he hailed the continued progress on the work, with or without Buhari in office.
According to him, the funding for the project comes from the Federal Government’s Tax Credit Scheme into which Nigeria’s Liquefied Natural Gas and other big companies, like Dangote and the Nigerian National Petroleum Corporation, are investing.
There is also the Nigeria- Morocco Gas Pipeline estimated at $25bn (about N11.52tn). It is the most expensive yet-to-be-completed project.
The Nigerian National Petroleum Company Limited is leading the implementation of Nigeria’s National Gas Expansion Programme, including the development of domestic gas pipeline infrastructure projects and the Nigeria-Morocco and Trans-Sahara Gas Pipelines.
The NNPC has signed five Memoranda of Understanding with national oil companies and relevant entities of five African countries on the Nigeria-Morocco Gas Pipeline Project. The five national oil companies and relevant entities are from Gambia, Ghana, Guinea, Guinea Bissau and Sierra Leone.
Another project is the $2.8bn (about N1.29tn) Ajaokuta-Kaduna-Kano pipeline project, which is said to be at 70 per cent completion.
The contractors include Oando Plc, Brentex Petroleum Services Ltd, Oilserve Ltd and China Petroleum Pipeline Bureau.
The former Vice President, Prof. Yemi Osinbajo, recently revealed that the project would help in generating 3.6 gigawatts (3,600 megawatts) of electricity, adding that the AKK pipeline was a major project of the Buhari’s administration.
The NNPC also recently said that $1.1bn had been spent so far on constructing the $2.8bn Ajaokuta-Kaduna-Kano gas pipeline project.
The counterpart funding for the Greater Abuja Water Project, estimated at $470.76m (about N217bn) is still pending.
In July last year, Economic Confidential reported that five years after the conceptualisation of the $470m Greeter Abuja Water Project, the Federal Government was yet to release the 20 per cent counterpart fund for the execution and delivery of the project as planned.
There is also the dualization of Akure-Ado Ekiti Road in Ondo/Ekiti states put at N90bn. Fashola last week commissioned the dualisation and construction of the Akure/Iju-Itagbolu/Ado-Ekiti road, which he said would be completed within a spate of 24 months.
He also disclosed that the award and commissioning of the road took so long because of the necessary process required by the new procurement law.
He assured stakeholders that the financing of the project had been taken care of by the NNPC through a tax credit policy and that construction work would not stop till completion.
The Itobe power plant, with a project cost of $5bn (about N2.3tn), is also pending. The 2,400MW coal-fired power project is put at 30 per cent completion with the contractor as Eta-Zuma Group.
There is also the renovation of the National Assembly Complex projected to cost about N30.23bn. The Federal Capital Development Authority recently said that the National Assembly complex would not be ready till August, despite pressure for the remodelling of the complex to be completed before the inauguration of the 10th Assembly.
Other projects include the design and construction of the Nigerian Cultural Centre and Millennium Tower (N69.35bn), the full scope development of FCT Highway 105 (Kuje Road) from the airport expressway to the outer Southern Expressway with Spur at Kyami District (N54.95bn), and the construction and equipping of hospitals at Gwarimpa Phase I (N3.03bn).
More projects include the construction of Bichi Township Roads (N1.40bn), the construction of Dawakin Tofa-Gwarzo-Dayi Road in Kano (N2bn), and the 5.4 kilometres Abuja- Keffi expressway and the dualisation of the 220 kilometres Keffi- Akwanga-Lafia- Makurdi federal roads in the North-Central geo-political zone of the country (N166.36bn).
Speaking at the APC South-East grand finale rally in Owerri, the new President, Tinubu, in February promised to continue with Buhari’s developmental programmes.
He said that Buhari’s eight-year reign was a retooling process, adding that he would invest in education, build infrastructure and be prudent should he be elected as the next president.
He said, “PDP stole Nigeria’s treasure. President Buhari’s eight years is a retooling process. PDP are liars. We will continue with developmental programmes of APC, it will not stop.”
