Former Minister seeks establishment of N10trillion infrastructure bond

Edwin Akwueh, Abuja


Ministerial Nominee, Mr. Babatunde Fashola, has called for the establishment of a 10trillion Naira infrastructure bond where Nigerians can contribute to fund road projects.

He also blamed the Nigeria Electricity Regulatory Commission, for the challenges facing the power sector.

Mr. Fashola, who is the immediate past Minister of Power, Works and Housing, stated these on Monday while responding to questions from Senator during his screening.

According to him, a major challenge facing the country’s privatization project is inability of regulatory bodies to check service level compliance for Nigerians.

Responding to Senators on what it will take to fund the road and power sub-sector, Mr. Fashola lamented that the budget do no get  full cash backing.

Another nominee, Mr. Rauf Aregbesola says the narrative on Osun State salary is either because of ignorance or mischievous, noting that public servants were paid based on the prevailing circumstances of 2015 to 2018.

Tax System
Mr. Aregbesola who is the former Governor of Osun State in South West Nigeria, advocate for a tax system in Nigeria which would bridge the wide gap between the elites and the masses.

The screening and confirmation of the ministerial nominees is expected to end on Tuesday as 40 out of the 43 nominees had been screened by the Senate.


Confidence Okwuchi