Power, road, rail projects to cost N35trn, says FG

PresidentGoodluckJonathan has disclosed that the key projects of his administrsation, which include power, road and rail transportation system, would cost N35 trillion.He said the projects were expected to be completed between 2011 and 2015 and would be financed by the three levels of government and the private sector.The president said the Federal Government would contribute N11trillion, the state and local governments would bring N9 trillion and the private sector N15 trillion.Speaking at the 2011 Annual Conference of the National Institute of Marketing of Nigeria (NIMN) in Abuja, the president said the plan is encapsulated in the transformation agenda of his administration and for it to succeed, all hands should be on deck.Jonathan, represented by a deputy director in the Ministry of Trade and Investment, Alhaji Bawa Lere Lawal, noted that the project would be accomplished in his time.The president said, 'as stated in my 51st Independence anniversary address to the nation on October 1, 2011, our administration has begun to do things differently, believing that integrity, honour, patriotism, selfless service and fear of God are the hallmarks of leadership at all levels. We recognise that private investment and entrepreneurial development at small, medium and large scales are critical factors in economic growth and development.'He further noted that his administration was out to create an environment where private investment could thrive adding that it was in view of this that a Ministry of Trade and Investment, whose mandate include working closely with the private sector, especially the entrepreneurs and investors, was formed.Jonathan also explained that his administration, through the transformation programme, would promote creativity, discipline and greater accountability.
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