{"id":77297,"date":"2020-12-11T00:21:25","date_gmt":"2020-12-10T23:21:25","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=77297"},"modified":"2020-12-11T00:26:33","modified_gmt":"2020-12-10T23:26:33","slug":"wike-tells-fg-to-fund-east-west-road-from-sovereign-wealth-fund","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/wike-tells-fg-to-fund-east-west-road-from-sovereign-wealth-fund\/","title":{"rendered":"WIKE TELLS FG TO FUND EAST WEST ROAD FROM SOVEREIGN WEALTH FUND"},"content":{"rendered":"<p>Rivers State Governor, Nyesom Ezenwo Wike, has advised the Federal<br \/>\nGovernment to include the East-West road among the critical<br \/>\ninfrastructural projects being funded from the coffers of the nation&#8217;s<br \/>\nSovereign Wealth Fund.<\/p>\n<p>The governor has also noted that the Federal Government&#8217;s directive<br \/>\nstopping State governments from funding the construction or<br \/>\nrehabilitation of failed federal roads is inimical to the effective<br \/>\ndevelopment, management, and maintenance of road infrastructure across<br \/>\nthe country.<\/p>\n<p>He made this assertion in his opening address at the 26th meeting of the<br \/>\nNational Council on Works in Port Harcourt on Thursday.<\/p>\n<p>Governor Wike said the theme of the meeting: &#8220;Infrastructure<br \/>\nDevelopment, Job Creation and National Economic Growth&#8221; fits to the<br \/>\ngenerally held view that road infrastructure plays a critical role in<br \/>\nenabling economic development, poverty reduction and inclusive progress.<\/p>\n<p>Governor Wike pointed out that the East \u2013 West road which is too<br \/>\nimportant to the economic prosperity of the South-South region and the<br \/>\nnation has been under construction for over 15 years, yet a completion<br \/>\ndate is still not in sight.<\/p>\n<p>He urged Federal Government to urgently consider funding the East-West<br \/>\nRoad from the Sovereign Wealth Fund to guarantee its completion by 2022<br \/>\nas being taunted by the Minister of the Niger Delta.<\/p>\n<p>The governor observed that presently the Federal Government appears<br \/>\noverwhelmed with the construction and provision of too many road<br \/>\nprojects across the country. He then suggested that it would have been<br \/>\nbetter for the Federal Government to complete most of the on-going roads<br \/>\nbefore embarking on new ones.<\/p>\n<p>Governor Wike, advised the Federal Government to reconsider its<br \/>\ndirective stopping State Governments from funding the construction or<br \/>\nrehabilitation of failed federal road which if not promptly fixed will<br \/>\nupset economic growth in the affected States and challenge the wellbeing<br \/>\nof citizens.<\/p>\n<p>&#8220;It makes progressive sense as a development strategy therefore for<br \/>\nState Governments to reconstruct such federal roads with reputable<br \/>\ncontractors on behalf of the Federal Government and get refunded after<br \/>\ndue verification of the price and quality of work done.<\/p>\n<p>&#8220;The Federal and State Governments need to consult and collaborate<br \/>\nregularly to accelerate the delivery of road infrastructure to advance<br \/>\nand realize the hopes and aspirations of our people for development and<br \/>\ndecent living.&#8221;<\/p>\n<p>Governor Wike explained that the State government is presently<br \/>\nconstructing six flyovers a federal government road to ease the<br \/>\nperennial traffic congestions on the problematic intersections of Port<br \/>\nHarcourt \u2013 Aba expressway.<\/p>\n<p>&#8220;Let me, therefore, appeal to the Federal Government to continue to<br \/>\ncollaborate with the State Governments on road development by allowing<br \/>\nStates to fix federal roads with the assurance of a refund.&#8221;<\/p>\n<p>The governor stated that his administration has consistently dedicated<br \/>\nover 65% of the State budget annually for the construction of new roads<br \/>\nor the reconstruction and or maintenance and rehabilitation of existing<br \/>\nroads across the State, including federal roads.<\/p>\n<p>&#8220;The result is the unprecedented delivery of close to 900 kilometres of<br \/>\nroads, bridges and flyovers spread across the length and breadth of the<br \/>\nState, including some of the far-flung communities that have now been<br \/>\nlinked by roads for the first time.&#8221;<\/p>\n<p>Minster of Work and Housing, Babatunde Fashola said the covid-19<br \/>\npandemic brought to the fore the importance of human mobility to the<br \/>\nhealth of any economy with the urban poor appearing to be the worse hit<br \/>\nas a result of the lockdown.<\/p>\n<p>According to him, part of measures adopted by the Federal Government to<br \/>\nkick-start economic recovery processes was to focus on agriculture<br \/>\nincluding the resumption of construction work in 26 states with its<br \/>\nattendant multiple effects on the local economy.<\/p>\n<p>Mr. Fashola explained that against the former practice of flexible<br \/>\npavement connection module that was cost-intensive, but his ministry is<br \/>\nready to unveil the rigid design manual which is cost-effective and will<br \/>\nguide construction activities in the country.<\/p>\n<p>Chairman of Senate committee of works,\u00a0 Senator Adamu Aliero who<br \/>\nadvocated the setting up of an infrastructural bank as an alternative<br \/>\nsource of funding of federal road projects said it has become<br \/>\npractically difficult for the Federal Government to fund the 711 roads<br \/>\ncaptured in the federal budget.<\/p>\n<p>Rivers State Commissioner for Works,\u00a0 Edoka Tasie-Amadi said it has<br \/>\nbecome more imperative for the present generation to plan for the future<br \/>\nand end the perennial road infrastructural deficit expletives today.<\/p>\n<div class=\"yj6qo\"><\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Rivers State Governor, Nyesom Ezenwo Wike, has advised the Federal Government to include the East-West road among the critical infrastructural projects being funded from the coffers of the nation&#8217;s Sovereign&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":75181,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-77297","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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