The Senate has launched a panel to investigate the alarming number of viable projects abandoned across Nigeria in various sectors. This committee aims to recommend solutions to reduce project abandonment and explore ways to recover most of the projects.
The ad-hoc committee is led by Senators Lola Shiru (chairman), Jimoh Ibrahim, Mpigi Barinada, Abdullahi Yahaya, Victor Umeh, and Isah Jibrin. This move follows a motion sponsored by Senator Jimoh Ibrahim highlighting the need to address the 11,856 mega projects abandoned by the Federal Government.
The investigation stems from a report by a Presidential committee in 2011, which identified the extensive abandonment of projects since Nigeria’s independence in 1960. The alarming 63% abandonment rate of projects in Nigeria raised concerns about the country’s infrastructural development.
The committee emphasizes the importance of effective infrastructure development for economic growth, stressing the need to salvage and utilize abandoned projects like Ajaokuta Steel Company and the Second Niger Bridge. The Senate President urged the committee to prioritize revenue-generating projects to alleviate the burden of loan interests.
In conclusion, the Senate has tasked the committee to deliver its findings and recommendations within a month to address the pressing issue of project abandonment plaguing Nigeria’s development.