8 February 2013

Nigeria: East - West Road - How We Generated N120 Billion for 2013 - Orubebe

The minister of Niger Delta Affairs, Elder Godsday Orubebe has described reports that his ministry secured loan of N12Obn to fund the massive East-West road , which is his ministry's flagship project in the year 2013 as inaccurate, as only N47 billion out of the generated N120bn was obtained as loan from ADB, through the ministry of Finance.

The minister , who harped that there isn't enough money coming to the ministry for it to face the problems of how to fix the massive east-west road in a statement by the ministry's Deputy Director, Press, Chief Fidelis Osamor,, explained that aside the N47bn loan, the remaining funds which complements the N120bn to be pumped for the completion of the flagship project, were generated from the ministry's budgetary allocation of about N50 billion for 2013 as well as the N21.7 billion from the SURE-P budget.

He said the remaining N60bn balance for the completion of the project in line with the ministry's proposed dateline, would be sourced in like manner to ensure maximum result, which will, according to him, restore the lost confidence of the Niger Delta people.

Elder Orubebe who cleared the air for fear of being castigated by critics who are ignorant of the facts and good intentions of his ministry, cleared the air on the uncertainty surrounding the 2014 dateline of the East-West Road, adding that, his ministry recognizes the need to ensure infrastructural renewal and economic development,which is the reason his administration decided to borrow N47bn in order to fund such projects.

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