Monday, July 13

Senators proposes pension fund for the rehabilitation and construction of roads

The Nigerian senators have made a proposal to the federal government to use the funds saved by civil servants for the rehabilitation and reconstruction of roads in the Nation.
Senator Adamu Aliero the chairman, Senate committee on works, made the call when he lead members of the committee on a courtesy visit to the Akwa-Ibom Governor, Emmanuel Udom on Saturday in Uyo.
The News Agency of Nigeria (NAN) revealed that the roads inspected included the Calabar-Itu road, Construction of Ikot-Ekpene border-Aba-Owerri road among others.
According to Aliero this decision of as a result of the annual budgetary allocation is insufficient to fund the over 522 roads.
He said that there was a proposal before the National Economic Council, that part of the fund which was almost N9 trillion, be used in funding infrastructure, particularly roads.
“The use of pension fund is currently under consideration by the three tiers of government and the Federal Government has said it will be floating bond using Nigeria Sovereign Investment Authority (NSIA) or converting the looted funds into the reconstruction and rehabilitation of roads,” he said

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