The Minister of Works and Housing, Babatunde Raji Fashola, yesterday lamented what he described as the huge liabilities of N69.9billion to 3,504 contractors in the Housing Sector by the Federal Government.
Fashola revealed this while defending the budget of the Housing Sector of his Ministry before the Senate and House of Representatives Joint Committees on Housing in Abuja.
According to the minister, while the capital allocation to the housing sector of his Ministry in the 2021 budget proposal is N76.45billion, the ministry is presently indebted to contractors to the tune of N69.9billion.
He added that the sum of N76, 456,840,472.11 is proposed for capital allocation for the Housing Sector in the 2021 budget estimates.
