Federal Government earmarks N400 billion for 2023 supplementary budget to bolster roads and infrastructure

In the recently approved 2023 supplementary budget, the Federal Government has set aside a substantial amount of N400 billion for critical infrastructure development, with a focus on road construction and other essential projects that will benefit the nation. The allocation of this considerable sum reflects the government’s commitment to improving the state of infrastructure across Nigeria.

This information has been sourced from Infostride News, which has diligently tracked and reported on the allocation of funds in the 2023 supplementary budget, specifically within the Ministries of Works and Housing. These ministries play a pivotal role in ensuring the provision of roads and other essential infrastructural projects nationwide.

The 2023 supplementary budget details shed light on how the N400 billion will be allocated. A significant portion, N300 billion, is designated as capital expenditure under the Ministry of Works. This substantial allocation underscores the government’s dedication to the development and enhancement of road infrastructure throughout the nation. The remaining N100 billion has been earmarked for the Ministry of Housing to support various infrastructural projects across the country.

Now, let’s delve into the specifics of how these funds will be utilized and what projects are on the horizon.

**Breakdown of Road Construction Projects**

The allocation of N300 billion to the Ministry of Works as capital expenditure for road projects is a significant step towards addressing the infrastructural needs of the nation. This budget encompasses the construction of twenty new road projects that will be spread across the six geopolitical zones. Furthermore, it will also fund the rehabilitation and repair of highways on a national scale.

The cost of constructing the 20 new road projects is estimated at N58 billion. These projects include critical endeavors such as the rehabilitation and dualization of the Enugu – Abakaliki – Ogoja road, the construction of the Ayegun – Oleyo road, and the dualization of the Amuobia – Ekwulobia – Mokwa road, among others. These projects are strategically distributed to ensure that various regions of the country benefit from improved road networks.

In addition to the construction of new roads, a substantial portion of the budget, N5.9 billion, is allocated for the rehabilitation of highways in the North Central zone. The North East and North West zones will each receive N8.5 billion for this purpose, while the South East zone will see an allocation of N8.4 billion. The South West zone is allocated N10.9 billion for the rehabilitation of highways, and the South South zone is set to receive N31 billion to address its highway rehabilitation needs. This comprehensive approach ensures that infrastructure development is not limited to one specific region, but rather it encompasses the entire nation.

**Breakdown of Infrastructural Projects Other Than Road Construction**

Beyond road construction, the 2023 supplementary budget also allocates N100 billion to the Ministry of Housing. This funding is designated for slum upgrade and urban renewal initiatives that will span all six geopolitical zones of the country. Additionally, it will support the construction of 40,000 units of Renewed Hope mini cities/estates across all 36 states.

For the construction of the 40,000 units under the National Housing Program, the federal government has set aside N50 billion. This initiative is expected to have a significant impact on housing development and access, addressing the growing housing needs of the population.

The remaining N50 billion allocated for the Ministry of Housing will be utilized for the provision of developmental infrastructure and facilities across the country. This will facilitate urban renewal and slum upgrade projects, further contributing to the overall development and enhancement of living conditions for citizens.

The allocation of such a substantial budget for slum upgrade, urban renewal, and housing development underscores the government’s commitment to improving the living standards of its citizens. By addressing both road infrastructure and housing, the government is taking comprehensive steps towards enhancing the quality of life and ensuring sustainable development in Nigeria.

In conclusion, the 2023 supplementary budget’s allocation of N400 billion for road construction and infrastructural projects is a significant investment in the future of Nigeria. This funding will contribute to the improvement of road networks, the development of housing, and the enhancement of living conditions for citizens across the country. The government’s commitment to these critical areas is evident, and as these projects are implemented, they are expected to have a substantial positive impact on the nation’s development and progress. Infostride News will continue to provide updates and insights on the progress of these projects, ensuring transparency and accountability in the allocation and utilization of these funds.