Monday, May 20, 2024

Construction of coastal routes can strengthen naira — Nigerian Govt


The Minister of Works, Dave Umahi, has stated that the development of coastal routes in Nigeria has the potential to draw overseas funding and contribute to a stronger naira.

Umahi gave the trace on the unveiling of the brand new design routes for the Lagos-Calabar Coastal Freeway venture on Wednesday in Lagos.

He stated the federal government’s plan to enhance infrastructure is in the end to purpose for an financial revolution in Nigeria.

“We talked about our economic system, that it wants overseas investments.

“These roads are going to be constructed with concrete pavements, and it’s CPC+F, which implies that there’s overseas funding that may are available, and this overseas funding will strengthen and stabilize the naira.

“I’m very pleased that the President has directed me to start the design of one of many spurs linking this coastal route, and that’s the Sokoto-Badagry, which was conceived by the President Shagari administration.

The minister additionally addressed criticism surrounding who will get credit score for creating the coastal routes in Nigeria.

In line with him, some individuals had been upset that President Bola Tinubu was related to the venture, saying the criticism is misplaced anger and a method to assault Tinubu with out understanding the larger image.

He argued that the venture’s long-term advantages outweighed political squabbles, which, in line with him, will go away a optimistic affect on future generations.

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