The Minister of Works, David Umahi, recently disclosed that the Ministry will not be proposing any new projects for the upcoming fiscal year in an effort to reduce the number of abandoned projects. Umahi expressed concern over a funding gap of N16tn for over 4,000 ongoing projects inherited by the current administration. During a media briefing in Abuja, Umahi stated that the focus will be on completing existing projects rather than initiating new ones, unless directed otherwise by the President. He highlighted the impact of inflation on project costs, particularly noting that some projects were initiated when the exchange rate was N150 to $1USD. Umahi emphasized the importance of addressing these issues for the nation’s benefit. Further details on this matter are expected to be provided later.
JUST IN: No new projects for 2025, says Umahi
