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2024 Budget: Umahi seeks more money for infrastructure

by Victorious
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2024 Budget: Umahi seeks more money for infrastructure

“Senator David Umahi, the Minister of Works and former Governor of Ebonyi State, has appealed for an increase in the 2024 budget allocation for his ministry, proposing a boost from N657.22 billion to N1.5 trillion.

During the defence of the 2024 Budget estimate for the Ministry of Works before the National Assembly Joint Committees on Appropriation, Umahi stressed that this increment would facilitate the completion of at least 10 critical roads and bridges across each of the country’s six geo-political zones.

He additionally proposed an Emergency Fund amounting to approximately 30% of the Budget Provision. This fund, as per Umahi, aims to address unforeseen emergencies on road networks, particularly during the rainy season.

Umahi urged an urgent review of certified debts owed to contractors, suggesting the potential conversion of these debts into Promissory Notes. This, he argued, would enable a focused approach in utilizing appropriated funds to achieve the Ministry’s objectives.

Regarding inflation’s impact, the Minister highlighted that many contractors had halted work due to exhausted contract VoPs (Variations of Prices) and urged for a review of all VoPs and augmentations. Umahi recommended converting owed amounts to contractors into Promissory Notes while aligning project unit rates with current industry realities.

Advocating for increased private sector participation, Umahi urged the encouragement of more companies to engage in the Road Tax Credit Scheme. This would involve leveraging their tax liabilities to address the nation’s infrastructure challenges effectively.”

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