The Minister of Works and Housing, Babatunde Fashola has told the National Assembly that the N76.4bn allocated to his ministry in the 2021 budget will not be adequate.
He revealed that the federal government through his ministry is already owing 3,504 contractors handling various projects across the country the sum of N69.9bn.
Fashola made the disclosure on Thursday when he appeared before the joint National Assembly Committee on Housing, to defend his ministry’s 2021 budget figures.
Fashola said: “The Housing Sector has outstanding liabilities currently to the tune of N69, 909,492,390.76.”
“If we have N69.9billion outstanding liabilities to contractors, where can a capital budget of N76billion take us?”