The Federal Government needs a staggering ₦3 trillion to complete road infrastructure projects initially financed under the NNPCL Tax Credit Scheme, according to the Minister of Works, Engineer David Umahi.
Umahi made this known during a press briefing held on Wednesday at the Ministry of Works Headquarters in Abuja.
He revealed that the Nigerian National Petroleum Company Limited (NNPCL) officially halted its financial support for the road projects on August 1, 2025, prompting President Bola Tinubu to direct the ministry to explore alternative funding sources to avoid disruption in ongoing construction works across the country.
“Our President is a man with a large heart. Despite the funding stoppage by NNPCL, Mr. President, as Chairman of the Federal Executive Council (FEC), directed that alternative funding mechanisms be put in place to ensure completion of all projects,” Umahi stated.
The Minister did not disclose specific alternative financing strategies being considered but assured Nigerians that the administration is fully committed to delivering key road projects, including those along critical economic corridors.
The NNPCL Tax Credit Scheme, a public-private partnership model, was previously instrumental in funding hundreds of kilometers of federal road projects nationwide. Its suspension has raised concerns about potential delays and rising costs.
Umahi emphasized the Tinubu administration’s resolve to prioritize infrastructure development, despite emerging fiscal challenges.
“We are not folding our arms. This government is determined to finish what it started. Nigerians deserve quality roads, and we are working to ensure that,” he added.
𝗙𝗼𝗹𝗹𝗼𝘄 𝗢𝘂𝗿 𝗪𝗵𝗮𝘁𝘀𝗔𝗽𝗽 𝗖𝗵𝗮𝗻𝗻𝗲𝗹 𝗧𝗼 𝗚𝗲𝘁 𝗟𝗮𝘁𝗲𝘀𝘁 𝗡𝗲𝘄𝘀 𝗔𝘀 𝗜𝘁'𝘀 𝗗𝗿𝗼𝗽!
