Pres. Tinubu orders reevaluation of projects requiring additional funding

By Kunle Sanni

President Bola Tinubu has directed that all projects needing additional funding be put on hold.

This directive was disclosed by the Minister of Information and National Orientation, Idris Muhammed, during a press briefing on Wednesday in Abuja.

President Tinubu has instructed all Ministries, Departments, and Agencies (MDAs) to reassess their procurement plans to identify and address any funding discrepancies, according to Muhammed.

The Minister of Budget and Economic Planning, Atiku Bagudu, elaborated on the decision, explaining that the aim is to align the Appropriation Act, Public Procurement Law, and Fiscal Responsibility Act.

The Information Minister also noted that the President has directed the Federal Ministry of Works to step down memos presented to the Federal Executive Council (FEC) for the review of projects that require additional funding.

The council has tasked Minister of Works David Umahi with collaborating with Minister of Budget and National Planning Atiku Bagudu and Minister of Finance Wale Edun to streamline all projects listed in the memo for proper funding intervention.

The projects being stepped down were inherited from previous administrations and are now being streamlined and reworked, with a priority on ensuring their completion in installments. Notably, the Lagos-Calabar highway and other newly approved roads by the Tinubu administration are not among the projects requiring additional funding.

Muhammed emphasized that the decision to step down these projects is not solely due to funding issues but also involves other considerations.

He further stressed that the directive not constitute abandonment, as the augmentations and reviews do not apply to new projects without funding issues.