Minister of Transportation, Mu’azu Sambo, has disclosed that out of N147bn budgeted for the ministry, N52bn, representing 35 per cent, has been released.
He said N38bn had been utilised as at 25th October, 2022.
A statement quoted Sambo to have made this disclosure in Abuja on Thursday while presenting a budget of N92.6bn to the Joint Committee of the Senate and the House of Representatives on Land and Marine Transport for the ministry and its agencies for the 2023 fiscal year.
r also informed the lawmakers that the ministry, through the support of the committee, was implementing the Nigeria Railway Modernization project and progressively expanding the railway network through yearly budgetary appropriations, following the challenges being faced in securing counterpart funding.
Sambo further said that the implementation of the Kaduna – Kano, Port Harcourt- Maidugiri and Kano-Maradi segments of the Railway modernization was ongoing with the Federal Government counterpart funding in the 2022 appropriation, while expecting the Federal ministry of Finance to conclude negotiations of the loans with the Infrastructure Development Finance Institutions of the Chinese, Portuguese and Turkish origins to implement the projects.
Speaking on the National Freight Offices at Iiela, Sambo said, “We have achieved significant progress in completing the ongoing National Freight Offices at Iiela Jibiya and Idiroko in addition to other Land Transport Projects and with your support, the capturing of all these projects and programs as proposed before you in the 2023 Budget proposal will assist us further towards actualizing the desired goals”