The Senate on Tuesday invited the Minister of Finance, Budget and National Planning, Zainab Ahmed, and her Works and Housing counterpart, Babatunde Fashola, to explain the variation in the cost of major federal highways being executed through the Nigeria Sovereign Investment Authority (NSIA).
Also invited to appear before the Senate Committee on Finance in the next two weeks are the Accountant General of the Federation, Ahmed Idris; the Managing Director of the NSIA, Uche Orji; and the contractors handling the projects.
Some of the projects tagged Legacy Projects include Lagos – Ibadan Express Way, Second Niger Bridge and Abuja – Kano Expressway, THISDAY checks revealed, are being funded through tripartite agreement between the Ministries of Finance, Works and the NSIA.
The Chairman of the Senate Committee on Finance, Senator Olamilekan Adeola, who extended the invitation to the ministers and others at an interactive session with the MD of NSIA, said the meeting was necessary so as to clear grey areas as regards funding the road projects as well as variation in the cost of the projects.
He said: “On the issue of funding, by virtue of the information at my disposal and by what the Finance Minister made me to understand, is that you are playing critical roles by providing funds for the legacy projects. As of today, two years down the line, only $300 million is in the books as having been spent on the projects, this gives cause for concern.
“We believe that funding is critical to these projects. If the funding is not there, there is no way we can achieve those timeframe that you have set out for the completion of the projects.
“On that note, we would be bringing on board the Minister of Finance, the Minister of Works and Housing, the Managing Director of the NSIA, the Accountant General of the Federation, and the contractors who should be invited by the Minister of Works.
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