Bagudu, however said that the N50 billion was not sufficient to fund the 'Renewed Hope Transformational Projects', prompting the Federal Government to seek a $2.5 billion loan from the World Bank. He made this disclosure while briefing the joint session of the Senate and House of Representatives committees on National Planning and Economic Affairs regarding the proposed Supplementary Appropriation Bill.
The minister said the projects include the Lagos-Calabar Coastal Road, the proposed Sokoto-Badagry Road, the completion of ongoing railway projects for which the Federal Government had not yet provided counterpart funding and the rehabilitation and expansion of dams and irrigation schemes to boost agricultural production. Bagudu also stated that the budget would allocate more funds to support Compressed Natural Gas and Liquefied Natural Gas projects to enhance energy competitiveness.
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: DailyPostNGR - 🏆 11. / 59 Read more »