The verification of the capital projects valued at N2.9 trillion is part of efforts to actualise President Bola Tinubu’s renewed hope agenda in the areas of prudence, value for money and transparency.
By Deborah Hassan
365Daily – The Executive Chairman of the Fiscal Responsibility Commission (FRC), Victor Muruako, has disclosed that the agency is set to begin physical verification of selected federal government (FG) capital projects across the six geopolitical zones of the country.
Some of the projects include the rehabilitation of the Bende-Arochukwu-Ohafia Road, the dualisation of the Sapele-Ewu Road in Delta, the dualisation of the Lagos-Otta road in Lagos State and the construction of the NDLEA zonal (Area) command in Igumale, Ado/Okpokwu, and Benue, among others.
He made this known on Saturday, January 27, 2024, in a statement signed by the commission’s Head of Strategic Communication Directorate, Bede Anyanwu, in Abuja.
Muruako said the verification of the capital projects valued at N2.9 trillion is part of efforts to actualise President Bola Tinubu’s renewed hope agenda in the areas of prudence, value for money and transparency.
He implored officials undertaking the task to do it with ”great diligence and a sense of purpose” to meet the yearnings of Nigerians, noting that the exercise is one of the core mandates of the commission.
“Ensure that you verify the actual existence of the projects as well as monitor the progress of the work done so far,” he stated, adding, ”The verification exercise is further designed to give a fillip to President Bola Tinubu’s renewed hope agenda in the areas of prudence, value for money and transparency.
While explaining that the verification must also be done within the ambit of the Medium Term Expenditure Framework (MTEF), the executive chairman highlighted that the verification exercise will enable the government to embark on projects that it can fund.
He said, “The aim is to reduce approvals for new capital projects for ministries, departments and agencies (MDAs), where the existing indebtedness to contractors is billions of naira, to the barest minimum,” he said.