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JUST IN: We Have No New Projects For 2025-Umahi
The Minister of Works, Dave Umahi, has announced that the Ministry will not propose any new projects for the 2025 fiscal year in an effort to minimize or eliminate the issue of abandoned projects.
Speaking during a media briefing in Abuja on Thursday to mark his first year in office, Umahi highlighted a N16 trillion funding gap affecting over 4,000 ongoing projects, many of which were inherited by the current administration.
“We will not propose new projects for the 2025 fiscal year unless otherwise directed by the President,” Umahi stated. He added that he would urge the Ministry of Finance to allocate funds specifically for the completion of ongoing projects.
Umahi pointed out that many of these projects were initiated when the naira was valued at N150 to $1 USD, and that inflation has significantly increased the costs, making it crucial to focus on completing them.
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