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Ministry to partner sovereign fund authority on infrastructure

Published by Guardian on Thu, 25 Apr 2013

THE Federal Ministry of Works is to partner with the Nigerian Sovereign Investment Authority (NS on the Lagos-Ibadan Expressway and an additional 39-kilometer road linking the Second Niger Bridge.The Minister of Works, Mike Onolememen, an architect, disclosed this when a delegation from the organization led by its Managing Director, Mr. Uche Orji paid him a courtesy call, in his Mabushi Office. The Federal Government owned authority established Sovereign Wealth Fund (SWF) with an initial funding of US$1 billion.NSIA is legislated to invest pledged funds for their medium and long-term benefit through investments: savings for future generations, infrastructure development and stabilization of the Nigerian economy.Onolememen stated that projects such as the Lagos-Ibadan Expressway would be increased to a four-lane carriageway with the construction of a fly-over, while the 2nd Niger Bridge is coming with an additional 39-kilometer dual carriageway along the Onitsha-Enugu axis.The Minister also stated that the Ministry will continue to collaborate with the Organization in developmental projects across the country, adding that there are many other projectsbut for now the ministry is prioritizing on these two key projectsThe Minister of State for Works, Ambassador Bashir Yuguda, who was present at the event, reminded the Sovereign Wealth Organization that there is the need to speed up the project, restating that the project needs to be completed before the tenure of this administration lapses.Onolememen, however, nominated Director, Highways (Roads), Mrs. Nworinka and Director, Highways (Bridges),Anaette Effiong and two representatives of the Sovereign Wealth Fund Tope Akinyemi and Chris Akpan and work out modalities for the successful delivery of the proposed partnership.The Permanent Secretary, Alhaji Abubakar Koro Muhammad, Director, Highways (Planning and Development), Bala Danshehu, and Director, Road Sector Development Team (RSDT), Ishaq Mohammed also attended the meeting amongst others.The Permanent Secretary, Federal Ministry of Works, Dr. Abubakar Koro Muhammad has reiterated the Ministry's resolve at enhancing welfare of staff with a view to maximizing output.He made the disclosure at the commissioning of three newly acquired 36-seater buses to be added to the Ministry's fleet for the conveyance of staff to and from the office.Dr. Muhammad admonished staff of the Ministry to put in their best in the performance of their duties and, most importantly to report to work at the stipulated time of 8am as no excuse for lateness will henceforth be entertained.Earlier in his opening remarks, the Director, Human Resource Management, Mr. Samuel Oluwole stated that the commissioning of the staff buses is a fulfillment of an earlier promise made by the management to the executive members of the Staff Union.
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