The Minister of Works, Engr. David Umahi, has revealed that the Federal Government now requires a staggering ₦3 trillion to complete ongoing road projects previously funded through the Nigerian National Petroleum Company Limited (NNPCL) tax credit scheme.
Speaking during an inspection of the dualization of the East-West Road (Eleme Junction to Onne Port Junction) in Rivers State, Umahi confirmed that the NNPCL stopped funding the projects effective August 1, 2025.
In response, President Bola Tinubu has directed the ministry to pursue alternative funding strategies to ensure critical infrastructure projects are not abandoned.
Umahi also announced a new policy: road contracts below ₦20 billion will now be reserved for indigenous firms under the administration’s “Nigeria First” initiative.
The minister added that the ministry has compiled all inherited tax credit projects for strategic funding and prioritization, particularly those that are vital to national economic development.
