- Umahi highlighted that there are currently over 4,000 ongoing projects with a significant funding gap of N16 trillion
The Minister of Works, Engr. David Umahi, announced on Thursday that the Ministry will not propose new projects for the 2025 fiscal year.
This decision aims to address and reduce the issue of abandoned projects.
Speaking at a media briefing in Abuja to mark his first year in office, Umahi stated, “We will not propose new projects for the 2025 fiscal year unless otherwise directed by Mr. President. My focus will be on ensuring that the Ministry of Finance allocates funds to complete ongoing projects.”
Umahi highlighted that there are currently over 4,000 ongoing projects with a significant funding gap of N16 trillion, many of which were inherited from previous administrations. He noted that some of these projects were initiated when the Naira was valued at N150 to $1 USD, and that inflation has considerably increased their costs.
The Minister emphasized that prioritizing the completion of these ongoing projects is in the nation’s best interest, given the current economic climate.