In a bold move aimed at transforming Nigeria’s infrastructure landscape, Senator David Umahi, the Minister of Works and former Governor of Ebonyi State, is pushing for a substantial boost in the 2024 budget allocation for his ministry. The proposed increment, from N657.22 billion to N1.5 trillion, is intended to catalyze the completion of pivotal roads and bridges across the nation’s six geo-political zones.
During the defence of the 2024 Budget estimate for the Ministry of Works before the National Assembly Joint Committees on Appropriation, Umahi fervently advocated for this augmented budget. He stressed that such an increase is imperative to expedite the conclusion of at least 10 critical infrastructure projects in each geo-political zone. This visionary initiative showcases Umahi’s commitment to fostering national cohesion and development, transcending regional boundaries for the collective benefit of all Nigerians.
Furthermore, Umahi underscored the necessity of establishing an Emergency Fund amounting to approximately 30% of the Budget Provision. This strategic allocation, he asserted, would serve to address unforeseen emergencies that recurrently plague the road network, particularly during the rainy season. By proactively preparing for such exigencies, the Ministry of Works aims to proactively mitigate the impact of adverse weather conditions on infrastructure, ensuring the seamless flow of transportation and commerce.
In a bid to streamline financial processes and bolster the ministry’s efficacy, Umahi articulated the need for an urgent review of all certified debts to contractors. He proposed the conversion of these liabilities into Promissory Notes, a measure intended to optimize the utilization of allocated funds to pursue the Ministry’s predefined objectives. This astute approach not only cultivates fiscal prudence but also underscores Umahi’s unwavering dedication to prudent financial management within the realm of public works and infrastructure development.
Addressing the prevalent challenge of inflation, the Minister highlighted the plight of contractors who find themselves unable to continue their work due to the depletion of their contract Valuation of Projects (VoPs). In response, Umahi advocated for a comprehensive review of all VoPs and augmentations, with a concerted effort to convert outstanding payments into Promissory Notes. By aligning the unit rates with the current realities of the construction industry, Umahi seeks to reinvigorate the construction sector and fortify the financial stability of contractors, ultimately reinvigorating the momentum of infrastructure projects across the nation.
In line with fostering collaborative partnerships, the Minister championed the active involvement of more eligible companies in the Road Tax Credit Scheme. By incentivizing private sector interventions through the front-loading of their tax liabilities, Umahi aims to cultivate a paradigm of shared responsibility in addressing Nigeria’s infrastructure challenges. This collaborative model, underpinned by private sector engagement, not only augments the government’s efforts but also heralds a transformative synergy between public and private entities in driving sustainable infrastructure development.
Umahi’s impassioned plea for increased infrastructure funding in the 2024 budget resonates as a clarion call for national renewal and advancement. His unwavering dedication to fortifying Nigeria’s infrastructure framework, coupled with his ardent advocacy for prudent financial management, epitomizes a resolute commitment to fostering progress and prosperity for all citizens. As the nation stands on the cusp of transformative change, Umahi’s visionary proposal stands poised to unleash a new era of infrastructure development, underscoring his unwavering resolve to steer Nigeria towards a future defined by connectivity, resilience, and sustainable growth.
