The Federal Government has set aside 1.3 billion dollars (about N468 billion) from the National Sovereign Investment Fund to finance five critical infrastructure projects.
The Minister of Information and Culture, Alhaji Lai Mohammed, disclosed this on Sunday when he appeared as guest on a Nigeria Television Authority programme, “Stepping Up”.
The minister said the five ongoing projects to benefit from the fund included the Lagos-Ibadan Expressway construction, the second Niger bridge and the East-West road construction.
The other two are the Abuja – Kano expressway construction and the Mambilla power project.
He said President Muhammadu Buhari’s administration was committed to infrastructure development across Nigeria and would continue to revive and complete all abandoned projects inherited from previous administration.
“We believed that rather than starting new projects, it will benefit Nigerians to complete all inherited abandoned projects.
“To appreciate the commitment of the administration to infrastructure: In 2014 Nigeria spent N14 billion on transportation, N34 bilion on water resources and agriculture and N106 billion on power works and housing.
“In 2017, this administration spent N107 billion on transportation, N130 billion on agriculture and water resources and N325 billion on Power, Works and Housing.
“The administration, in a manner unprecedented in the history of the country, spent a total of N2.7 trillion on capital projects in 2016 and 2017 alone,” he said.