The Honourable Minister of State, Ministry of Niger Delta Affairs (MNDA), Senator Tayo Alasoadura, has said that $1.07bn is required to construct Section V of the East-West Road, Oron in Akwa Ibom State to Calabar, Cross River State. Out of which, the Ministry is applying for only $800m loan from the China Exim Bank.
This was disclosed recently by the H Minister of State, at the interactive session with Ministries, Departments, and Agencies (MDA’s) organized by the Senate Committee on Local and Foreign Debts in the National Assembly.
Alasoadura stated that in order to realize the full economic potentials of the East-West road, it was expedient that the road cover the entire East-West segment of the Niger Delta region, up to Calabar in Cross River State, the home of Tinapa Export Free Zone.
He lamented that there was no direct link from the end of the-ongoing East-West road at Oron in Akwa Ibom State, to Calabar in Cross River State, presently.
The Honourable Minister of State said the 23.1 kilometre road was expected to be completed within 2-3 years, once construction work start.
Alasoadura further informed the Senate Committee, that the road project was scaled down from a dual carriage way to single carriage way because of the lean resources of the government.
Chairman, Senate Committee on Local and Foreign Debts, Senator, (Engr.) Clifford Odia reiterated that the essence of the interactive meeting with the MDA’s was to get a robust reason on why the proposed loan was expedient and how it would be repaid to the lending institution.
He advised that all MDA’s proposed loan submission to the National Assembly, must include all necessary requirements to enable the committee peruse and take appropriate decision on the subject.
The Minister of State was accompanied to the National Assembly by the Permanent Secretary, Mr. Olusade Adesola and other Directors of the Ministry.
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