Photo Story: Union Bank Inductees into Advertising Regulatory Council of Nigeria

L-R: (Front Row Seated) Chief Brand and Marketing Officer, Union Bank of Nigeria, Mrs. Olufunmilola Aluko; Director-General, Advertising Regulatory Council of Nigeria (ARCON), Dr. Olalekan Olumuyiwa Fadolapo; and Director Regulation, Monitoring and Enforcement, ARCON, Mrs. Emme Akande with (Back Row Standing) 2nd Right, Head Strategic Brand Management, Union Bank, Alvin Agorom; 5th Right, Head Product Marketing, Ejiebhen Egbomondion; 6th Right, Head Strategic Communications and Media, Olufisayo Adelekun with other Union Bank Inductees during their induction by ARCON as Registered Advertising Practitioners of Nigeria held at the Stallion Plaza in Marina, Lagos recently.

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Tempers flare as Works Minister defends raising of N7trn Bonds for Road Projects

Minister of Works, David Umahi, has urged the National Assembly to support President Bola Tinubu in raising N7 trillion bonds for NNPCL road projects nationwide.

Umahi made the appeal on Wednesday in Abuja while defending the ministry’s 2026 budget before the National Assembly Joint Committee on Works.

He said the request followed presidential approval for NNPCL to withdraw funding from the road projects.

He said: “NNPCL, with the approval of Mr President, has pulled out of funding this project.

“A total of N7 trillion will be needed to complete it, and Mr President has approved that the ministry take over execution.

“It is important to note that continuation of these projects is critical, as they lie within the nation’s economic corridors.”

He listed projects on the East-West Road, Suleja–Minna Road, and several in Taraba, Adamawa and Niger states.

“They are all part of the NNPCL-funded projects, just to mention a few.

“It is good for our lawmakers to encourage Mr President to raise bonds and complete them.

“Whether it was right or wrong, our people need these roads. This is very important,” Umahi stated.

He commended Tinubu’s commitment to infrastructure and praised the National Assembly for supporting the President.

Umahi said the President inherited 2,064 ongoing projects on May 29, 2023, valued at about N13 trillion.

He noted the figure predated the naira float and fuel subsidy removal.

“If you appraise building material costs now, compared to before subsidy removal, you can imagine the implications.

“But I thank the President. I do not think any other president has done that.

“When we came on board, we had to continue all 2,064 projects,” he said.

He said the Federal Executive Council directed prioritisation, phasing and re-scoping, especially within major economic corridors across the six geopolitical zones.

The minister said the total cost of ongoing projects stood at N16.9 trillion as of December 2025.

He clarified that the figure excluded the President’s four legacy projects.

Umahi said the N16.9 trillion cost was unrealistic, prompting segmentation of projects zone by zone for completion.

“The President graciously gave us additional funds in the 2026 proposal, totalling N797 billion, including contingency and counterpart funding,” he said.

He said the South-West was allocated N160 billion for critical projects, including the Third Mainland Bridge.

The South-South and North-West received N120 billion each, while the South-East got N105 billion.

North-Central and North-East were allocated N105.2 billion each, he added.

Umahi said Section-1 of the Lagos–Calabar Highway would be completed and commissioned by May 29.

He added that 50 per cent of the 55-kilometre Lekki Deep Sea Port access road would be completed by May 29.

He said: “The entire project will be completed by the end of this year.

“Section-3 in Cross River is ongoing, uninterrupted, with concrete pavement works progressing.”

He said 50 per cent of the Sokoto–Badagry axis would be ready within six months.

“We are hoping to complete that project by the end of the year,” Umahi stated.

He disclosed that contractors are owed about N2.2 trillion for certified works executed between 2024 and 2025.

However, he said efforts were underway to settle the claims following presidential approval.

Earlier, a heated altercation nearly disrupted proceedings during the budget defence.

Senate Majority Whip, Onyekachi Nwabonyi, and Deputy Minority Whip, Rufai Hanga, engaged in a shouting match.

Nwabonyi complained he was not given enough time to comment, alleging unequal allocation of speaking time.

The disagreement briefly halted the session before order was restored.

Credit NAN: Texts excluding Headline