The Federal Government has announced a significant change in the funding structure for the N3 trillion road projects initially financed through the road tax credit scheme under the Nigerian National Petroleum Company Limited (NNPCL). Moving forward, the responsibility for financing these projects will shift directly to the Federal Ministry of Works.

This adjustment follows a similar move recently implemented by the Central Bank of Nigeria regarding project financing responsibilities. Despite the change, the government has assured that there will be no interruption in the delivery of these vital infrastructure projects.

The decision to transfer funding and oversight back to the Ministry of Works is part of a strategic review aimed at streamlining project management. This approach is intended to enhance coordination, transparency, and efficiency by placing project execution squarely within the ministry’s core mandate.

To maintain progress, the Ministry of Works will explore alternative and sustainable financing options. These may include increased budgetary allocations, public-private partnerships, or other innovative funding mechanisms to ensure the projects continue without delay.

President Bola Ahmed Tinubu’s administration remains fully committed to the timely completion of these road projects, which are crucial for boosting economic growth, improving transportation networks, and connecting communities nationwide. The government has reassured the public that the funding restructure is a positive step toward stronger governance and effective project execution.