JUST IN: Umahi Rejects To Submit Fresh Projects For 2025 Budget, Gives Reasons

• The Minister of Works, David Umahi, announced that the Ministry will not propose any new projects for the 2025 fiscal year
• Umahi highlighted a substantial N16 trillion funding shortfall for over 4,000 ongoing projects inherited by the current administration
• Umahi stated that the Ministry would only consider new projects for 2025 if directed by President Bola Tinubu

FCT, Abuja - The Minister of Works, David Umahi, stated that the Ministry will refrain from proposing any new projects for the 2025 fiscal year, in an effort to reduce or eliminate abandoned projects.

He highlighted a significant N16 trillion funding shortfall for over 4,000 ongoing projects that the current administration inherited.

Umahi made this announcement during a media briefing in Abuja on Thursday, marking his first year in office, as reported by The Punch.

He emphasized:

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“We will not put forward new projects for the 2025 fiscal year unless directed otherwise by the President.

“I’m going to tell the Ministry of Finance to provide funds for us to complete ongoing projects.

“Right now, we have over 4,000 ongoing projects and a funding gap of N16tn, most of them were inherited by this administration.“

"Some of these projects were awarded when the naira was exchanged for N150 to $1USD.”

More details later..

Source: Legit.ng