JUST IN: Fashola Advocates N10Trillion Infrastructure Bond
Ex- minister of Power, Works and Housing, Babatunde Raji Fashola on Monday , called for the introduction of a N10tr infrastructure bond.
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Fashola who disclosed in Abuja during the ministerial screening exercise when he appeared before the Senate lamented the paucity of funds for Infrastructure development.
While lamenting on the decay so far experienced in the country, former Governor of Lagos State, said the only way to address the infrastructural challenges facing the country was the introduction of infrastructure bond.
He said the bond should be backed by legislative instrument and that people should be able to invest as low as N1,000.
He said, in the last four years, the federal government had been operating deficit budget due to paucity of fund.
Fashola said at the moment, the federal government had road projects, at least one, in each state of the Federation.
The ex minister also disclosed that housing projects were ongoing in 34 out of the 36 states of the Federation. Related Nigeria must review strategy on laundered funds abroad.
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