The
Federal Government on Monday said it would reintroduce tolling on the nation’s
highways to raise the much needed funds to maintain the roads.
The
Minister of Power, Works and Housing, Mr. Babatunde Fashola, stated this while
addressing members of the Manufacturers Association of Nigeria, who visited him
in his office in Abuja.
The
minister’s position may be an endorsement of the Senate’s proposal in July for
the return of tolls on federal roads and the setting aside of 0.5 per cent of
transport fares paid by passengers on inter-state trips to generate funds for
the rehabilitation and maintenance of roads in the country.
Fashola
said that the tolling system would only be introduced to road projects that had
been completed by the government.
The
minister, according to a statement by the Director of Information in the
ministry, Mohammed Ahmed, also said the government would spend N100bn to be
raised from the issuance of the sukuk bond for the reconstruction and
rehabilitation of 25 arterial roads.
The
sukuk bond, which has been described as a safe and low-risk investment, is
being issued by Debt Management Office with a seven-year tenor.
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