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The Federal Government has spent N350bn on road projects in the South-West in the last four years, an amount it says is the highest among the six geopolitical zones. According to the government, 46.6 per cent of projects awarded by the present administration since it took over in 2011 have been completed and appreciable progress recorded in others. The Minister of Works, Mr. Mike Onolememen, stated this during a radio programme monitored by our correspondent in Abuja. He said, “All over the country, the Jonathan administration has completely changed the narrative in the road sector. From the North-East, where we are investing over N320bn in road infrastructure, to the North Central where we are investing about N300bn; the North-West, where are investing N200bn, the South-East, where we are investing N345bn; to the South-West, where we are investing close to about N350bn; and to the South-South, where we are investing about N250bn, the whole country has virtually been turned into...

In a bid to ensure a successful implementation of the National Integrated Infrastructure Master Plan, the Federal Government has identified four options, including the pension fund, to finance some priority projects contained in the plan in the next five years. The funding options are contained in the NIIMP document, a copy of which was obtained by our correspondent in Abuja on Friday. A total of $140bn will be generated for the project through the four funding sources, according to the document. The report showed the bulk of the funds would come from government loans, which could finance up to $76bn; the government budget would be expected to provide $31bn of the infrastructure projects. The document also indicated that other government-controlled sources such as the Sovereign Wealth Fund or pension fund would offer $13bn of the financing while the Public Private Partnerships would be developed to offer between $15bn and $20bn from the private sector. The NIIMP, which is a ...