{"id":156,"date":"2023-05-31T09:15:32","date_gmt":"2023-05-31T09:15:32","guid":{"rendered":"https:\/\/arritoneconsult.com.ng\/blog\/?p=156"},"modified":"2023-05-31T09:15:33","modified_gmt":"2023-05-31T09:15:33","slug":"nigerias-new-president-inherits-n16-29tn-unfinished-project","status":"publish","type":"post","link":"https:\/\/arritoneconsult.com.ng\/blog\/2023\/05\/31\/nigerias-new-president-inherits-n16-29tn-unfinished-project\/","title":{"rendered":"Nigeria’s New President Inherits N16.29tn Unfinished Project"},"content":{"rendered":"\n

According to findings, the new President Inherits N16.29tn, from his predecessor, Muhammadu Buhari. These projects were identified through the national monitoring and evaluation platform called EYEMARK, which was launched by Buhari in December of the previous year. Buhari acknowledged that the Federal Government could no longer rely on a limited number of monitoring and evaluation teams to oversee the numerous infrastructure projects spread across the country. To address this issue and ensure closer monitoring by citizens, he created EYEMARK to bridge the existing gaps and promote citizens’ participation in governance. With EYEMARK, the status and financial details of projects are now accessible to the public.<\/p>\n\n\n\n

The EYEMARK platform reveals that there are approximately 33 projects that are yet to be completed. One of these projects is the Lagos-Ibadan Expressway, which has a reported cost of about N315bn and is currently 85% complete. The reopening of this expressway was recently postponed due to heavy traffic congestion. Julius Berger Nigeria Plc and RCC are the contractors responsible for this project. Another notable project is the Bodo-Bonny Road, estimated to cost about N200bn, and is currently 75% complete. Julius Berger is in charge of constructing this 37.9km road.<\/p>\n\n\n\n

The project is expected to be completed in December 2023 and is being funded through the Federal Government’s Tax Credit Scheme, with investments from Nigeria’s Liquefied Natural Gas, Dangote, and the Nigerian National Petroleum Corporation.<\/p>\n\n\n\n

The most expensive yet-to-be-completed project is the Nigeria-Morocco Gas Pipeline, with an estimated cost of $25bn (about N11.52tn). The Nigerian National Petroleum Company Limited is leading the implementation of this project, which aims to develop domestic gas pipeline infrastructure and connect Nigeria to Morocco and the Trans-Sahara Gas Pipelines. The NNPC has signed agreements with national oil companies and entities from Gambia, Ghana, Guinea, Guinea Bissau, and Sierra Leone for the Nigeria-Morocco Gas Pipeline Project.<\/p>\n\n\n\n

The Ajaokuta-Kaduna-Kano pipeline project, costing $2.8bn (about N1.29tn), is another significant project at 70% completion. Oando Plc, Brentex Petroleum Services Ltd, Oilserve Ltd, and China Petroleum Pipeline Bureau are the contractors responsible for this project. The pipeline is expected to generate 3.6 gigawatts of electricity and is considered a major achievement of the Buhari administration.<\/p>\n\n\n\n

The Greater Abuja Water Project, estimated at $470.76m (about N217bn), is awaiting counterpart funding. Despite the conceptualization of the project five years ago, the Federal Government has yet to release the 20% counterpart fund required for its execution and delivery.<\/p>\n\n\n\n

New President Inherits N16.29tn and Other projects include the dualization of the Akure-Ado Ekiti Road, the Itobe power plant, the renovation of the National Assembly Complex, the Nigerian Cultural Centre and Millennium Tower, the FCT Highway 105, hospitals at Gwarimpa Phase I, the construction of Bichi Township Roads, Dawakin Tofa-Gwarzo-Dayi Road in Kano, and the Abuja-Keffi expressway and the dualisation of the Keffi-Akwanga-Lafia-Makurdi federal roads.<\/p>\n\n\n\n

During the APC South-East grand finale rally in Owerri, President Tinubu pledged to continue with Buhari’s developmental programs. He emphasized the need for continued investment in education, infrastructure, and fiscal prudence. Tinubu criticized the previous People’s Democratic Party (PDP) administration, accusing them of looting Nigeria’s resources and affirming.<\/p>\n\n\n\n

for more news visit https:\/\/arritoneconsult.com.ng\/blog\/wp-admin<\/a><\/p>\n\n\n\n

for more information on education visit examhood.com.ng<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

According to findings, the new President Inherits N16.29tn, from his predecessor, Muhammadu Buhari. These projects were identified through the national monitoring and […]<\/p>\n","protected":false},"author":4,"featured_media":157,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[28],"tags":[],"class_list":["post-156","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nNigeria's New President Inherits N16.29tn Unfinished Project - Arritone Consult<\/title>\n<meta name=\"description\" content=\"Explore how Nigeria's new president inherits a staggering N16.29tn worth of unfinished projects, highlighting the challenges ahead.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/arritoneconsult.com.ng\/blog\/2023\/05\/31\/nigerias-new-president-inherits-n16-29tn-unfinished-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nigeria's New President Inherits N16.29tn Unfinished Project - 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