The Senate has said that Nigeria is losing ₦1trillion due to the bad roads across the 36 states in the country.
The Federal Roads Maintenance Agency (FERMA) also calculated the number of hours people loss annually in cost, when they are being delayed on the road because of traffic and bad roads, putting it at ₦1.02 trillion.
Nigeria is losing ₦1trillion due to the bad roads across the 36 states in the country
The Senate Committee Chairman for FERMA, Senator Gershom Bassey revealed this at stakeholders meeting on road maintenance put together by the agency.
Naijauto gathered that experts made some findings regarding the state of the roads in the country and its effect on the citizens’ productivity and submitted it to the Senate.
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Senator Bassey was of the view that enacting prescribed laws would be of immersed help in the maintenance of Nigerian roads.
"I think the first thing is to obey the law. Clearly, there is a FERMA Act and the key issue in road maintenance is funding. This issue was addressed in 2008 in the amendment of the FERMA Act, which provided for additional sources of funding for road maintenance.
But the problem we have now is that that law has not been obeyed by the Petroleum Products Pricing Regulatory Agency, as it is supposed to ensure that a portion of the tax on petrol and diesel is credited to FERMA for the maintenance of roads."
The Senate believes that enacting prescribed laws would be of immersed help in the maintenance of Nigerian roads
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The Chairman of FERMA's Governing Board, Tunde Lemo, stated that the capital for the maintenance of roads across the states was less than 1% of Nigerian's Gross Domestic Product (GDP). He said it was less than 3% of the GDP World Bank recommends as the least spending limit.
Mr.Lemo added that more than 80% of the trips made in Nigeria are by road, and 90% of the travels are on Federal interstate roads.
He went further to point out that the Federal roads in good condition are just 10, 0000 km while fair and bad roads are 13,300km and 11,600km respectively. According to him, it’s the reason why road density in the country is just 0.21 km/sq.km2.
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