The former Governor of Ebonyi State and current Minister of Works has stated that the administration led by Tinubu requires a sum of 35 billion dollars to facilitate the construction of concrete roads across the country.
In a statement issued by the Chief Press Secretary to the Minister, Orji Uchenna, on Tuesday, November 21, 2023, the Works Minister was quoted as saying:
‘How do we reactivate Ajaokuta Steel? We are going into concrete roads, and in this concrete road initiative, about 16 percent of it is from steel, while 30 percent is from cement. We need a significant amount of money to start, but we have decided to face it, and God has given us an idea. We need about 35 billion dollars to start. If we wait for the federal government, it might become difficult. We have conducted a Return On Investment (ROI) analysis; the profit we could have made, part of it will go to bank interest. We are looking at commercial banks, but the Federal Executive Council has to endorse it. If this can be done, it means Mr. President is actually living up to his words, and this is going to be possible.’
‘One of the Renewed Hope Agendas of Mr. President is to think outside the box. Mr. President inherited a large chunk of debt from the past administration. The beauty of it is that he is not complaining; he knew the state of the country before he took office and how it is now. The good thing is that if you have passion for something, God will give you an idea.’
Umahi hinted at the ministry’s resolve to synergize and leverage opportunities presented by Ajaokuta Steel Plant to aid road development. He added that this measure would go a long way in stimulating wealth, global market industrialization, and job creation.
