Babajide Fashola, the minister of works and housing, revealed that the federal government has the power to tax Nigerians in place of taking out loans to fund projects.
Fashola stressed that the government of President Muhammadu Buhari's was determined to borrow money to carry out projects, which was consistent with results seen in other regions.
The Minister revealed this during the flag-off of the Akure-Ado expressway and said Buhari would continue to grant contracts and take on debt until the end of his term.
He claims that the president will stop exercising his executive powers by May 28 at midnight.
According to Fashola, the NNPC will fund the N90 billion project through the federal government's tax credit program.
Infrastructural growth, he continued, can only be accomplished by borrowing or taxation.
The Minister acknowledged that rumors had been made about him since the project, which had previously been approved for Dantata and Sawoe Construction Firm, had been delayed.
Fashola insisted that the project will be finished in 24 months and said Samchase Nigeria Ltd. and Kopeck Construction Company had been given the contract.
“People are asking why we are still awarding contracts when we have just a few days to go. Should we stop this road now and wait for the next government?
“It is a juvenile conversation. They forgot, among other things, that the term of this administration ends at midnight on May 28.
“This road really represents the paradox about governance, about roads, and about public debts. This is the real story.
“The work looks easy from the outside, but one decision leads to other consequences. But we have now given you contractors who have worked with you,†he said.