The Minister of Works and Housing , Mr Babatunde Fashola , said on Thursday that his ministry owed 3 , 504 contractors handling its various housing projects N69 . 91 bn .
Fashola stated this when he appeared before the joint National Assembly Committee on Housing to defend his ministry’ s 2021 budget estimates.
The minister sought the assistance of the lawmakers on how to defray the liabilities because the N76 . 4 bn allocated to the ministry in the 2021 budget would be grossly inadequate to execute its 186 projects across the country .
Fashola specifically sought the understanding of the lawmakers to assist in defraying the liabilities .
He said 2 , 601 contractors being owed N33 . 9 bn actually executed constituency projects.
He pleaded with the lawmakers to identify the affected projects in their constituencies that had attracted huge liabilities and pick them as their special intervention projects for 2021 instead of proposing new ones .
Fashola said , “ If we have liabilities of N69 . 9 bn , how far will a budget of N76 bn then take us .
“ Now the big elephant in the room is the outstanding liabilities and I ’ ll like to say with every sense of modesty that I think that we should be commended for bringing this out now when something can be done about it .