The Apapa-Oshodi expressway, Lagos-Ibadan expressway, Second Niger Bridge and the Enugu-Port Harcourt Road rank top of the list of projects that will be funded with the Federal Government’s N350billion stimulus fund.
The projects are among the ones abandoned by contractors due to a lack of money.
The Minister of Finance, Mrs. Kemi Adeosun, while speaking after the National Economic Council retreat chaired by Vice-President Yemi Osinbajo last week, said the Federal Government had resolved to inject N350billion into the economy to stabilise it.
Finance Ministry sources indicate that projects that would benefit from the initial release of the fund are those with capacity to create large number of jobs.
The construction of the Kano-Maiduguri Road, which has a budgetary allocation of N16billion, the Abuja-Lokoja Road (N10billion) and the Apapa-Oshodi Road (N5billion) are also expected to benefit from the fund.
Others are the Sokoto-Kontagora Road (N4billion), the Ilorin-Jebba Road (N6billion) and the Itu-Ikot-Ekpene Road (N6billion).
Apart from road projects, sources said government would be channeling funds into other infrastructure projects in the housing and power sector.
Adeosun had said for contractors to benefit from the fund, they must show proof of the number of Nigerians that would be re-engaged.
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