The Federal Government has slashed the 2015 budget of the Ministry of Works from the 100 Billion Naira it was the previous fiscal year now to 11 Billion Naira.
According to reports from the Daily Post, this is due to the dwindling revenue currently being experienced in the country
Minister of Works, Mike Onolememen, while defending his ministry’s budget estimates for the fiscal year before the Senate, explained that the finance ministry took the action in response to “the economic realities on the ground”.
He explained that out of the 210 ongoing road projects in the country, only 33 had been provided for in view of the lean allocation to the ministry as the budget was insufficient for contractors to carry out their work progressively.
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