LAGOS, Nigeria (AP) — Nigeria’s federal government has released about 2.68 trillion naira (S1.8 billion) for road and bridge projects between 2023 and April 2026, far below the 54.93 trillion naira (S37 billion) budgeted for the sector during the same period, according to treasury records reviewed by The PUNCH.
The figures highlight both the government’s growing emphasis on infrastructure and the persistent financing shortfalls that continue to slow capital projects in Africa’s most populous nation.
Treasury data show wide gaps between approved allocations and actual spending. In 2023, 2.53 trillion naira was budgeted, but only 631.51 billion was released, representing 24.95 percent. In 2024, the government allocated 9.39 trillion naira, yet just 784.60 billion was disbursed, or 8.36 percent. The trend continued in 2025, with 7.22 trillion naira budgeted and 670.68 billion released, translating to 9.29 percent. By April 2026, the government had earmarked 35.79 trillion naira, but only 597.08 billion had been released, representing 1.67 percent.
Most of the funds went to road construction and rehabilitation, while maintenance projects received only a fraction of their allocations.
The spending comes as President Bola Tinubu’s administration promotes its “Renewed Hope Agenda,” a program aimed at showcasing infrastructure projects nationwide. The government has organized a media tour to highlight progress, though civil society groups have staged protests in Lagos over insecurity and economic hardship.
Nigeria is Africa’s largest economy and a key oil producer. Poor road networks have long hindered trade, agriculture, and regional integration. International investors and development partners often cite infrastructure deficits as a barrier to growth.
The disparity between budget promises and actual releases reflects broader fiscal challenges. Nigeria faces rising debt, foreign exchange pressures, and competing demands for limited public funds.
Civil society organizations warn that underfunding road projects undermines safety and economic productivity. Economists say the low implementation rates could discourage private investment in transport and logistics. Regional observers note that Nigeria’s infrastructure drive mirrors efforts across Africa, where governments are under pressure to modernize roads, ports, and power systems to support booming populations.
With more than 23 trillion naira in road budgets still unfunded as of April 2026, analysts say the government must balance ambitious infrastructure plans with realistic financing strategies. Whether Tinubu’s administration can close the gap will be closely watched by citizens and international partners alike.
