• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

FG owing road contractors N306 billion as public transport owners back toll gate 

Fakoyejo Olalekan by Fakoyejo Olalekan
December 10, 2019
in Business News, Op-Eds, Politics, Transportation
FG owing road contractors N306 billion as public transport owners back toll gate
Share on FacebookShare on TwitterShare on Linkedin

President Muhammadu Buhari‘s administration is reportedly spending more on subsiding fuel than it does on construction of roads and bridges across the country as contractors working on the federal road projects are being owed N306 billion by the Federal Government.

This was disclosed by the Minister of Works and Housing, Babatunde Fashola while speaking on the activities of the Ministry. He said the government spends about N1 trillion on fuel subsidy, an amount that could be put to better use by the Ministry of works and housing.

Fashola made this comment during a meeting with the Public Transport Owners of Nigeria Association. He told the members of the association that a lot of work was ongoing on federal roads nationwide but the budget of the Ministry of Works is not fully funded, Punch reported.

RelatedStories

FG, Borno sign MoU for takeover and transformation of National Orthopaedic Hospital, Azare 

FG, Borno sign MoU for takeover and transformation of National Orthopaedic Hospital, Azare 

May 16, 2025
FG, States and LGAs share N1.35 trillion as FAAC allocation in June

FAAC: FG, States, LGs share lower February revenue of N1.678 trillion 

March 22, 2025

State governments own most bad roads - Finance Minister says, FMWH Director explains why Nigerian roads may remain bad for long 

VAT increase, loan to aid work: He explained that the gap in funding is why VAT (Value Added Tax) increment and FG borrowing were essential. Fashola said as at October, FG was owing road contractors N306 billion, but only N73 billion was available, yet more bills were coming in.

“I heard you talk about tolling roads and bridges. Well, as you said, government is actually spending a lot of money on subsidising fuel. And that is a lot of money from government to spend on subsidy.

“I would have loved that that money came to the Ministry of Works, but the numbers I was trying to get for you is that for over four years, between 2015 and 2018, the entire amount we got was not up to N1tn in actual cash in this ministry.”

[READ MORE: Fashola stripped of power, as Adamu-Adamu, Ngige, others retain portfolios(Opens in a new browser tab)]

He added, “The budget, yes! But not all of the budget is funded. So if we had N1tn to spend on Nigerian roads we would be in a much better position. As of October, we were owing contractors N306bn and more bills are coming in and all we got was N73 billion.

“And this is the country where some people are of the opinion that the government shouldn’t raise VAT. Some people are also of the opinion that government should not even borrow. So I think it is important for those of you here to also come out and take a position.”

Fashola didn’t rule out the construction of tollgates on federal roads, but he stated that when a policy had been drafted, Nigerians would be informed.

“When it is time to start; of course, we will articulate a clear policy for the information of Nigerians. That is the much I will say about that,” he stated.

Public transport owners back toll gate: The decision to return toll gates to federal road years after former President, Olusegun Obasanjo removed them, has been supported by the Public Transport Owners of Nigeria Association.

State governments own most bad roads - Finance Minister says

The President of the association, Isaac Uhunmwagho, during the meeting with Fashola said the Federal Government has their backing. The association, which consists of key inter-state transporters in Nigeria, however, said if the toll gates were to return to the highways, it should be placed on roads linking Lagos and Abuja, Lagos and Port Harcourt, Port Harcourt and Abuja and Abuja and Kano.


Follow us for Breaking News and Market Intelligence.
Tags: Babatunde FasholaFGIsaac UhunmwaghoowingPresident Muhammadu BuhariPublic Transport Owners of Nigeria Associationroad
Fakoyejo Olalekan

Fakoyejo Olalekan

Olalekan is a certified media practitioner from the Nigerian Institute of Journalism (NIJ). In the era of media convergence, Olalekan is a valuable asset, with ability to curate and broadcast news. His zeal to write was developed out of passion to shape people’s thought and opinion; serving as a guideline for their daily lives. Contact for tips: fakoyejo.olalekan@nairametrics.com.

Related Posts

FG, Borno sign MoU for takeover and transformation of National Orthopaedic Hospital, Azare 
Corporate deals

FG, Borno sign MoU for takeover and transformation of National Orthopaedic Hospital, Azare 

May 16, 2025
FG, States and LGAs share N1.35 trillion as FAAC allocation in June
Economy

FAAC: FG, States, LGs share lower February revenue of N1.678 trillion 

March 22, 2025
FG, ICPC sign MoU to strengthen transparency, accountability in health sector
Health

FG, ICPC sign MoU to strengthen transparency, accountability in health sector

March 17, 2025
David Umahi,
Real Estate and Construction

FG, China Exim Bank disagree on number of Lanes for Akwanga-Gombe Road 

February 24, 2025
FG, ILO launch National Child Labour Website and reporting app to combat child exploitation in Nigeria 
Sectors

FG, ILO launch National Child Labour Website and reporting app to combat child exploitation in Nigeria 

February 14, 2025
NERC adopts new tariff tool for mini-grid regulation  
Energy

FG transfers electricity market regulatory oversight in Lagos to LASERC 

December 19, 2024
Next Post
Plugging your spending leaks

How to plug your spending leaks

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

otd
access bank
nairametrics
Emple
Palmpay
first bank








DUNS

Recent News

  • Cutix Q1 profit slumps amid rising input costs and mounting finance costs 
  • CAC shifts implementation of new service fees to October 1, 2025 
  • ICRC: 13,595 families searching for 23,659 missing persons in Nigeria

Follow us on social media:

Recent News

Cutix reports N1.6 billion profit for the 2025 financial year — How much came from cable sales? 

Cutix Q1 profit slumps amid rising input costs and mounting finance costs 

August 30, 2025
CAC, AI

CAC shifts implementation of new service fees to October 1, 2025 

August 30, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics