Minister of Budget and National Planning, Atiku Bagudu, emphasized on Friday that Nigeria has not invested sufficiently in infrastructural development, attributing many recent problems faced by Nigerians to this under-investment.
Speaking at the National Assembly during an interactive session with the Senate Committee on Appropriation, chaired by Senator Olamilekan Adeola, Bagudu provided insights into the ₦6.2 trillion supplementary appropriation approval for the 2024 budget requested by President Bola Tinubu.
Bagudu praised President Tinubu for his political will to tackle the infrastructure deficit by seeking ₦3.2 trillion to fund critical projects, including the Lagos-Calabar coastal highway, the Sokoto-Badagry highway, and the Trans-Sahara highway.
He expressed confidence that these projects, once completed, would enhance economic activities and increase the nation’s revenue base, contributing to a massive transformation and strengthening economic realities.
Addressing the committee’s concerns about other deplorable and unfinished road projects, Bagudu assured that the federal government has not abandoned any ongoing projects.
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He emphasized that the government is not prioritizing new projects over existing ones, and the Federal Executive Council will continue to approve funds for other road projects as they become available.
While Bagudu did not provide a detailed statement on the supplementary approval, he offered a sectoral overview of both the ₦3.2 trillion for the Renewed Hope Infrastructure Projects and the ₦3 trillion increase in the recurrent component of the budget.
Senator Adeola, Chairman of the Senate Appropriation Committee, affirmed the government’s capacity to finance the 2024 budget. He requested the minister to promptly provide a full breakdown and details of the ₦6.2 trillion approval.
