On Thursday, the ministry of power, works and housing received N100 billion proceeds from the Sukuk bonds subscription.
Kemi Adeosun, minister of finance, while presenting the cheque to Babatunde Fashola, minister of power, works and housing, said the proceeds would be used to support the federal government’s capital spending for 2017.
She also said the proceeds “is about financial inclusion” and deepening of the country’s financial markets.
“The proceeds will be used to further support government capital spending for 2017 – the construction and rehabilitation of 25 key economic roads across the six geo-political zones of the country,” the finance minister said.
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“The roads will ease commuting, spur economic activities across the country and further close our infrastructural gap. Each of the six geo-political zones is expected to receive the sum of N16.67 billion for road projects in their respective zones.
“The north central and south-south zones accounted for five each of the 25 key economic road projects, while the north-east, north-west and south-east have four road projects each. Three projects are to receive funding from the sovereign Sukuk proceeds in the south-west zone.”
At the time the works ministry received the funds, the 25 key economic projects were unknown.
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But in a tweet on Sunday, BudgIT, Nigerian civic social enterprise, listed the roads, the amount that will be spent on them and the expected time reconstruction will be completed.
These 25 roads that the N100bn Sukuk bonds will fund. We will be tracking it. #AskQuestions
What other roads will you like to see? #RoadsNG pic.twitter.com/ST6Hh95FOh
— BudgIT Nigeria (@BudgITng) October 8, 2017
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THE FULL LIST
| Project Title | Amount in Naira | Estimated Delivery Date |
|---|---|---|
| Construction of Oju/Loko-Oweto bridge overRiver Benue to link Loko (Nasarawa state) and Oweto (Benue state) along route F238 | 4,144,708,134.18 | December 2017 |
| Dualisation of Abuja-Abaji-Lokoja road section I (international airport link road junction – Sheda village | 3,000,000,000.00 | March 2018 |
| Dualisation of Suleja-Minna road in Niger state phase II (km 40+000-km101+000) | 3,521,958,532,49 | April 2018 |
| Dualisation of Abuja-Abaji-Lokoja road: Section IV Koton Karfe-Lokoja in Kogi state | 3,500,000,000.00 | January 2018 |
| Dualisation of Lokoja-Benin road: Obajana-Okene in Kogi state | 2,500,000,000 | January 2018 |
| Dualisation of Kano-Maiduguri road linking Kano-jigawa-Bauchi-Yobe | 4,166,666,666.67 | March 2018 |
| Dualisation of Kano-Maiduguri road linking Kano-Jigawa-Bauchi-Yobe and Borno states. Section III (Azare-Potiskum) in Bauchi | 3,500,000,000.00 | December 2017 |
| Dualisation of Kano-Maiduguri road linking Kano-Jigawa-Bauchi-Yobe and Borno states. Section IV (Potiskum-Damaturu road) in Yobe | 4,000,000,000.00 | December 2017 |
| Dualisation of Kano-Maiduguri road linking Kano-Jigawa-Bauchi-Yobe and Borno states. Section V (Damaturu-Maiduguri) | 5,000,000,000.00 | June 2018 |
| Dualisation of Kano-Maiduguri road linking Kano-Jigawa-Bauchi-Yobe and Borno states. Section I (Kano-Wudil-Shuari) in Kano | 5,000,000,000.00 | June 2018 |
| Dualisation of Kano-Katsina road phase I, Kano town at Dawanau roundabout to Katsina border in Kano | 3,000,000,000.00 | September 2018 |
| Construction of Kano western bypass as an extension of dualisation of Kano-Maiduguri road section I | 4,000,000,000.00 | May 2018 |
| Construction of Kaduna eastern bypass | 4,666,666,666.67 | January 2018 |
| Rehabilitation of outstanding section of Onitsha-Enugu expressway: Amansea-Enugu border | 5,166,666,666,67 | December 2017 |
| Rehabilitation of Enugu-Port Harcourt dual carriage section I: Lokpanta-Umuahia in Abia | 4,000,000,000.00 | March 2018 |
| Rehabilitation of Enugu-Port Harcourt dual carriage sectionII Umuahia tower-Aba township rail | 3,750,000,000.00 | December 2017 |
| Rehabilitation of Enugu-Port Harcourt road section III: Enugu-Lokpanta | 3,750,000,000.00 | December 2017 |
| Rehabilitation of Enugu-Port Harcourt road section IV: Aba-Port Harcourt in Rivers | 3,500,000,000.00 | July 2018 |
| Dualisation of Yenegwe road junction-Kolo-Otuoke-Bayelsa palm in Bayelsa | 3,500,000,000.00 | July 2018 |
| Dualisation of Lokoja-Benin road: Obajana junction-Benin section II phase I: Okene-Auchi, Kogi/Edo states | 3,000,000,000.00 | December 2017 |
| Dualisation of Lokoja-Benin road: Obajana junction-Benin section III phase I: Auchi-Ehor in Edo | 3,166,666,666.67 | June 2018 |
| Dualisation of Lokoja-Benin road: Obajana junction-Benin section IV phase I: Ehor-Benin city, Edo state | 3,500,000,000.00 | December 2017 |
| Reconstruction and asphalt overlay of Benin-Ofosu-Ore-Ajebandele-Shagamu dual carriageway phase IV | 6,000,000,000.00 | December 2017 |
| Reconstruction of outstanding section of sections of Benin-Ofusu-Ore-Ajebandele-Shagamu dual carriageway phase III | 5,000,000,000.00 | December 2017 |
| Dualisation of Ibadan-Ilorin road. Section II: Oyo -Ogbomosho road in Oyo | 5,666,666,666.67 | December 2017 |
| TOTAL | 100,000,000,000.02 |
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