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25 October 2019

Fed Govt to float N10tr infrastructure bond

The Senate on Thursday agreed with the Federal Government on the need to float an Infrastructure Bond of N10 trillion towards creating a financial pool to meet funding gaps and road infrastructure deficit in the country.

The Minister of Works and Housing, Babatunde Raji Fashola (SAN) made the proposal when he appeared before the National Assembly Joint Committee on Works for the defence of the ministry’s 2020 budget estimates.

The Chairman of the Joint Committee, Senator Adamu Aliero said from the observation of members of the Committee, the Federal Government would require funds in the size of the 2020 budget which is N10.33trillion to finance the 540 roads planned to be completed under the 2020 fiscal year.

Fashola said the bond when realised would help close gaps in fund releases and annual deficits in the capital budget.


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