A former minister of Power, Works and Housing, Babatunde Raji Fashola has advocated for the introduction of a N10tr infrastructure bond. Fashola spoke on Monday morning when he appeared before the Senate for screening. He is the first ministerial nominee to be screened on the day.
Lamenting the paucity of fund, he said the only way to address the infrastructural challenges facing the country was the introduction of infrastructure bond.He said the bond should be backed by legislative instrument and that people should be able to invest as low as N1,000. He said, in the last four years, the federal government had been operating deficit budget due to paucity of fund.
He said at
the moment, the federal government had road projects, at least one, in
each state of the Federation. Fashola also disclosed that housing
projects were ongoing in 34 out of the 36 states of the Federation.