2025 Budget Focuses On Ongoing Projects: Umahi

2025 Budget Focuses On Ongoing Projects: Umahi

The Minister of Works, David Umahi, has announced that the Ministry will not propose any new projects for the 2025 fiscal year. This decision aims to focus on completing the ongoing projects rather than starting new ones. Umahi disclosed this during a media briefing in Abuja, marking his first year in office.

The minister cited a significant funding gap of ₦16 trillion on over 4,000 ongoing projects inherited from the previous administration as the primary reason for this decision. He emphasized that inflation and currency devaluation have further escalated the costs of these projects, many of which were initiated when the naira was valued at ₦150 to $1 USD.

Umahi stated, “We will not propose new projects for 2025 unless otherwise directed by the President. Our priority will be to secure funds to complete existing projects.”

He also mentioned plans to request additional funding from the Ministry of Finance to ensure the completion of these projects.