The Senate on Thursday demanded details of how the Nigerian Sovereign Investment Authority (NSIA) spent $1.5 billion remitted to it by the Federal and State governments for road construction.
The Senate Committee Finance made this request during a meeting with representatives of the Managing Director of the NSIA, Aminu Umar-Sadiq, in Abuja.
The Chairman of the Committee, Senator Sani Musa, said the request has become imperative as there was little or no information on the operations of the NSIA.
In his contribution, a member of the committee, Senator Adamu Aliero, said the only “visible project” that could be identified with the agency was the Abuja-Kaduna Expressway, still under construction.
He added: “You have received $1.5billion to invest. How are you using the money?
“Give us the details of all your investments, the dividends and so on. We want to see the details.”
Senator Ned Nwoko supported Aliero’s position ans sought to know why the NSIA did not consider the 2nd Niger Bridge as a priority project for investment.
Nwoko stated that though the main bridge project had been completed, the bridge could not be put to use by motorists due to the absence of required bypasses.
“The 2nd Niger Bridge has been built but not being used because of the lack of bypasses.
“Why can’t you fund the bypasses? The NSIA can fund the bypasses, especially on the Asaba end. The bridge is now wasting at a loss to the government.”
The committee directed the agency to supply the information at the next adjourned date of the committee, where Umar-Sadiq is expected be present.
