Minister of Niger Delta Affairs, Elder Godsday Orubebe, yesterday said, N140 billion is required to complete the remaining 35 percent work on the East-West road.
Speaking with newsmen in Lagos, Orubebe said the present administration took over the project when it was just 10 per cent completed and without a design.
“Today we stand at over 65 percent completion and as we stand over N209 billion has been spent on that road and what is needed to complete that road is about N140 billion,” he said.
He however assured that funding for the project was no longer a worry given financial framework worked out with the President and other stakeholders upon which N50 billion was obtained from the African Development Bank. Besides, he said funding for the project is also being derived from SURE-P and the annual budget of the Federal Government.
“Based on the pressures from us and the understanding of Mr. President, we have been able to put a financial framework that is geared for us to complete the road and we believe that in the way forward, that finance may not be a serious problem again.
“We are making arrangements with the African Development Bank and we have been able to get about N50 billion from the African Development Bank and of course, the SURE-P fund is also there as support for the East-West Road and besides that, the annual budget.
“So with these three areas put together we are on course to say that the road is completed by December 2014,” Orubebe said.