FG to fund Calabar-Itu road from Sukuk bond, says Fashola

The Minister of Works and Housing, Babatunde Fashola, has disclosed that the Calabar-Itu road will be funded from the Sukuk bond later this year.

Fashola, who made the disclosure at Ugep, Cross River State while on tour of federal projects in Cross River and Akwa Ibom states, said President Muhammadu Buhari was committed to providing quality infrastructure and diversifying the nation’s economy.

The minister, who was accompanied by key officials of his ministry, also disclosed that a multi-pronged strategy had been deployed to ensure the roads are accessible all year long.

He said: “The president is mindful of the importance of some of the major roads in the country the completion of the 67 km section of this road shows his commitment to infrastructure and by extension the diversification of the economy.

“We assure the people of the state that the Calabar-Itu road will be funded from the Sukuk bond later this year and assured on availability of funds for the project.

“When the road runs, the economy is made alive and the Calabar – Ikom -Ogoja road is a major economic route for Cross River State and by extension Nigeria”, he said.

He commended the contractors, especially Sermatech, for executing quality work, saying it is consistent with the Executive Order 5 which is aimed at boosting the capacity of local contractors.

He said from his tour of the region, most roads were motorable except for certain bad portions and disclosed that the ministry would deploy a multi-pronged strategy to ensure that bad spots along major roads were made motorable while construction work on other sections was ongoing like in the Calabar-Itu road.

Credit: SunNewsOnline