After four decades of broken promises, the Federal Government appears to be adopting a phased approach to finally complete the long-abandoned National Library project.
Specifically, it would resume work on the 19-year-old project from June this year, with the aim of completing Basement Levels One and Two, the ground floor, the first and second floors, as well as external works.
Minister of Education, Dr. Tunji Alausa, dropped the hint yesterday in Abuja during a tour of the edifice, in the company of the National Librarian, Prof. Chinwe Anunobi, some senior directors of the Federal Ministry of Education, and a team of consultants.
Designed in 1981, construction started in 2006 during the administration of former President Olusegun Obasanjo to the tune of N8.9 billion, with an initial completion period of 22 months. However, work stopped in 2012.
The Guardian reports that the library, which lies fallow on Plot 35, Cadastral Business District, in the Federal Capital Territory, was awarded to Reynolds Construction Company.
Speaking after inspecting the project, Alausa stated that the Tinubu administration had the political will to complete the project. He, however, did not give a specific timeline on when the first phase would be completed.
According to him, although the ministry is still awaiting the consultants’ cost estimate, he acknowledged that completing the national monument would likely require an enormous investment, running into hundreds of billions of Naira.
His words: “Even the quotation that the contractor quoted a few years ago to complete the project was about N90 billion.
“If we have to go back to do the costing, it will cost into hundreds of billions. But what we have been able to do is to be innovative in moving this project forward. We will begin by finishing Basement Level One, Basement Level Two, the ground floor, first floor, second floor and external works. We have enough funds to complete it, but we are still waiting for the final cost based on what the consultants will put together with regard to the bill of quantities. And the contractor will come back to us on how much it is going to cost to do this level of construction.”
He said the President had instructed the Tertiary Education Trust Fund (TETFund) to release funds for the completion of the project.
The SEC boss called on women to champion financial literacy and capital market participation, adding that the commission was ready to collaborate with the Ministry of Women Affairs to attract more Nigerian women into the market.
Suleiman-Ibrahim welcomed the collaboration, stating that women have the potential to drive economic growth, and that her ministry was prepared to support initiatives that enhance financial inclusion. She underscored the importance of access to finance, digital inclusion, and favourable lending conditions for women.
Assuring SEC of her commitment, she declared herself an ambassador for the cause, pledging to help Nigerian women gain financial literacy and access the necessary resources for economic empowerment.
Executive Commissioner for Legal and Enforcement at SEC, Frana Chukwuogor, also spoke on the need for women to avoid fraudulent investment schemes. She warned against Ponzi schemes that promise unrealistic returns, urging women to spread awareness and protect their financial resources. By educating women first, she noted, the message of financial security can reach the broader society, ensuring sustainable wealth creation.