Minister of Budget and National Planning, Atiku Bagudu, stated on Friday that Nigeria has not invested enough in infrastructure development.
He highlighted that many of the recent issues faced by Nigerians are due to under-investment in various infrastructure sectors.
Bagudu made these remarks during an interactive session with the Senate Committee on Appropriation, chaired by Senator Olamilekan Adeola, at the National Assembly.
The minister was invited to discuss the ₦6.2 trillion supplementary appropriation approved for the 2024 budget, as requested by President Bola Tinubu.
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He praised President Tinubu for having the political will to address the infrastructure deficit by seeking ₦3.2 trillion to fund projects such as the Lagos-Calabar coastal highway, the Sokoto-Badagry highway, and the Trans-Sahara highway.
Bagudu expressed confidence that these projects, once completed, will boost economic activities and enhance the nation’s revenue base.
He added that the projects will encourage massive transformation apart from strengthening economic realities.
The minister, while trying to douse the agitation of members of the committee on the fate of other deplorable roads, and uncompleted road projects in their various constituents, said the federal government has not abandoned any of the ongoing projects.
Bagudu categorically stated that the government is not giving priority attention to innovative projects at the expense of other road projects.
He assured that the Federal Executive Council will continue to consider and give financial approval to other roads as funds are available.
The minister though did not give a detailed statement of the supplementary approval, gave a sectoral overview of both the ₦3.2tn of the Renewed Hope Infrastructure Projects, and the ₦3tn increase in the recurrent component of the budget.
Chairman of the Senate Appropriation Committee, Senator Adeola, the government has full capacity to finance the 2024 budget.
He, however, implored the minister to make available to the committee a full detail and breakdown of the ₦6.2tn approval as soon as possible.
