The Minister of Works, Engr. David Umahi, has announced that the Ministry will not propose new projects for the 2025 fiscal year in an effort to reduce or eliminate the incidence of abandoned projects.
He made this statement during a media briefing to mark his first year in office in Abuja on Thursday.
According to Umahi: “We will not propose new projects for the 2025 fiscal year unless otherwise dictated by Mr. President. I’m going to tell the Ministry of Finance to provide funds for us to complete ongoing projects.”
He highlighted the challenges faced by the Ministry, stating: “Right now, we have over 4,000 ongoing projects and a funding gap of N16 trillion, most of them were inherited by this administration. Some of these projects were awarded when the Naira exchanged for N150 to $1 USD.”
Umahi attributed the rising cost of projects to inflation, emphasizing that it is in the nation’s best interest to prioritize completing ongoing projects rather than initiating new ones.
