Nigeria has huge infrastructural problem. From roads to power to hospitals, there are just huge shortages.

Now, the Minister of Power, Works and Housing, Mr Babatunde Fashola, is making a case for an infrastructure bond worth at least 10 trillion naira to fix the infrastructural shortages.

Fashola stated this on Monday in Abuja at a meeting with members of the House of Representatives Committee on Works to defend his ministry’s 2018 budget performance and 2019 budget.

The minister received legislative commendations from the committee for his achievements so far in the road sector.

Speaking on his achievements, the minister said while government was constrained to operate within the current budgetary limits, it had considerably scaled up performance, using the Sukuk Bond over which government had no allocation control.

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Fashola, therefore, called for a 10 trillion-naira infrastructure Bond which he noted could take care of the nation’s infrastructural issues and deficit going forward.

“If such is created, we can draw from it without resorting to the annual budget, but of course with legislative backing to solve our problems once and for all,” he said.

The minister, however, expressed confidence in President Muhammadu Buhari’s willingness to sign the Road Infrastructure Fund Bill, provided “the provisions don’t conflict with existing laws governing the sector."

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