The Minister of Works and Housing , Babatunde Fashola , on Wednesday , told the Senate that the Federal Government owe construction firms handling 711 road projects across the country N392 bn .
The debt , according to the minister , was higher than the N276 bn , proposed as budgetary allocation for road projects in 2021 .
Fashola who stated this on Wednesday in Abuja while defending the 2021 budget of his ministry before the Senate Committee on Works .
He said , “ With the situation on ground , a stop has come for new projects and the country needs to prioritise the existing ones in order to complete some of them . ”
He said N6 . 62 tn was needed by the Federal Government to fund the 711 road projects across the country .
The minister , however, said the resources to achieve that were not available now , hence the need to prioritise the very important ones .
He said , “ We do not have the resources that we need to fix our road infrastructure at once; the very reason we need to prioritise what want to do .
“ The situation on ground requires us to cut our coat according to our cloth and not according to our size because no good will come out of more new road projects now . ”
