Sunday, November 1, 2026

Tinubu using Islamic bank loan Sukuk, tax credit to fund federal roads in Abia, Delta, Rivers: FG

The controller said the federal government’s decision to require states to pay compensation for right-of-way was one of the challenges hindering some jobs in Abia.

• May 28, 2024
Abia road construction
Abia road construction[Credit: The Guardian Nigeria]

The federal controller of works for Abia, Tony Onwubiko, says the federal government under President Bola Tinubu Onwubiko is using funds from budget allocation, the tax credit scheme and the Islamic bank loan called Sukuk to execute road constructions in the state and other areas.

The official disclosed this in an interview in Umuahia on Monday. He said that the current federal government had sustained road maintenance and construction for the good of the Abia people.

“We have two sets of projects: the main contracts and the maintenance works embarked upon by the ministry. The main projects we have now are the rehabilitation and reconstruction of the Enugu-Port Harcourt dual carriageway, section two, being handled by Arab Contractors, the rehabilitation and dualisation of Aba-Ikot Ekpene road in Abia and Akwa Ibom by the CGGC Global Projects, and the rehabilitation of Uturu-Isuikwuato-Akara road by Eighteenth Engineering Company International,” he said.

Mr Onwubikon named other roads handled by the federal government, including the construction of the Umuuchichi-Umueze-GZ Industries road by GZ Industries.

According to him, rehabilitation is also being done on Osisioma-Owerri road, where the NNPC depot is located by Rodo Nigeria Limited.

Mr Onwubiko said the Umuahia-Bende-Ohafia road, section two and Umuahia-Ikwuano-Ikot Ekpene Road by Heartland Nigeria Limited are part of the federal projects in Abia.

He also said that the Bende-Arochukwu road by Heartland Nigeria Limited was one of the federal government’s major ongoing contracts in Abia.

The controller said the federal government’s decision to require states to pay compensation for right-of-way was one of the challenges hindering some jobs in Abia.

He said that although Governor Alex Otti’s administration had shown interest in paying compensations, unlike the past administration, Abia has yet to acquire the right of way for any federal government construction.

The controller said the federal government used three funding patterns to provide for its projects. Mr Onwubiko said the funding patterns include budget allocation, the tax credit scheme and the Islamic bank loan called Sukuk.

However, he said that budget allocation and Sukuk had yet to pay for projects they funded, while only the tax credit scheme through NNPC provided for its supported projects.

“Abia has three roads under NNPC funding, which is part of the tax credit scheme. They are Osisioma-Owerri Road by Rodo Nigeria Limited, Aba-Ikot Ekpene Road by CGGC and Umuahia-Ikot Ekpene Road by Heartland Nigeria Limited,” added Mr Onwubiko.

He said that apart from the challenge of the rainy season, when budget allocation and Sukuk provide funds, projects they were funding in Abia would be fast-paced.

(NAN) 

We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette

Nigerian Bar Association

States

Independence: NBA urges Nigerians to expect better future

The NBA said that ordinary Nigerians should be deriving benefit from the subsidy removal rather than hardship.

farmers

Agriculture

FG tasks ECOWAS on leveraging financing strategies for agroecology

The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices

Katsina State

Politics

Katsina youths pledge to deliver over 2 million votes to Atiku

“Katsina State is Atiku’s political base because it is his second home.”

Nigeria Centre for Disease Control and Prevention

Health

Two suspected Ebola cases in Adamawa test negative, says NCDC

He commended the Adamawa commissioner for health and his team for their proactive response.

Nigeria Immigration Service

NationWide

NIS reaffirms commitment to excellent service delivery

Mrs Nandap reaffirmed ongoing reforms to improve customer satisfaction.

Anambra State logo

States

Anambra seals orphanage over unhygienic conditions, rescues eight children

Mrs Onyekesi reaffirmed the state government’s commitment to protecting children.

World

Portuguese demand scrapping of rental bill amid housing protests

On Thursday, Prime Minister Luis Montenegro insisted that the bill would not be scrapped.

Binance

World

North Korean hackers stole over $6 billion from Binance, FBI says

On October 29, Binance suffered an attack in which hackers stole $6.3 billion from its platform.

Gboyega Oyetola and Ademola Adeleke

Politics

2027: Adeleke, Oyetola inaugurate 10,000 canvassers for Tinubu’s re-election in Osun

Mr Oyetola said the inauguration demonstrated commitment, organisation and shared conviction in Mr Tinubu’s continuity agenda.