FG sets aside N290m for AfCFTA implementation

The federal government has earmarked the sum of N230 million for the purchase of law books, management of litigations and arbitrations in the Federal Ministry of Transportation in the 2022 budget as signed into law by President Muhammadu Buhari a fortnight ago. 

This is in addition to an allocation of N60m for the implementation of the African Continental Free Trade Area (AfCFTA) agreement in the transportation sector.

The two ongoing projects are part of initiatives aimed at repositioning the transport sector to optimally contribute to the nation’s Gross Domestic Product, GDP in 2022. 

Minister of Transportation, Rotimi Amaechi has consistently maintained that the Ministry under his watch would be revamped to avail Nigerians opportunities to earn legitimate income for a living.

Consequently, local contractors and skilled personal have been given opportunities to contribute their quota in the nation’s infrastructural maintenance in the past few years.

Sequel to this development, the Nigerian Transportation Master Plan, NTM is expected to be reviewed this year, with a view to strengthening the road and sea transport sub-sectors for efficient service delivery.

The review, a partnership of the Ministry of Transportation and the Nigerian Institute of Transport Technology, NITT will cost the federal government the sum of N80m. 

All capital projects currently under the supervision of the Ministry, particularly rail, dry ports and deep-sea projects would be strictly monitored as the federal government voted N90m for monitoring and evaluation of projects in 2022.

Source: Vanguard

Leave a Comment

Your email address will not be published.