 10 abandoned projects in Nigeria worth $15 billion. Nigeria was designated as a developing new nation when it gained independence in 1960. However, 61 years later, they are still among the world's most undeveloped and backward countries. Their economic, social, political, and human development indexes are all among the lowest in the world, and their budget deficits are among the biggest. As of August 2021, the cost of Nigeria's unfinished projects was expected to be $12 trillion. According to the Nigerian Institute of Quantity Surveyors, there are around 56,000 abandoned projects in Nigeria. While the federal government abandoned some of the projects, the states ignored others. The latest revelation that Nigeria has 56,000 abandoned projects backs up the assertion of the country's backwardness. In a recent lecture at the University of Ibadan, the Nigerian Society of Engineers, NSE, affirmed this truth. But why is this abnormality occurring? In a lecture at the University of Ibadan, Abator, the president of NIQS, claims that the Nigerian Society of Engineers, NSE, just confirmed this fact. But why is this baffling anomaly occurring? In Nigeria, the majority of contracts fail due to underestimation of costs. Politicians and even private citizens frequently start on projects without consulting experts, and even when they do, they do not always heed expert advice. Most abandoned public initiatives are the result of corruption. The majority of contracts are given to politically exposed construction businessmen and women who receive mobilization fees and then stop work. Stay tuned to our channel for more information on Nigeria's 10 abandoned projects valued more than $15 billion. A project in Nigeria that would have been the first of its kind in Africa if completed has turned out to be yet another abandoned project. Honorable Rotomi Amici, the state's former governor, came up with the concept for the Moonrail project. The project was created to address the state's transportation issues. The Moonrail project was supposed to be 12 kilometers long and cost 50 billion nera. However, it was only completed for 2.6 kilometers. A sports stadium project that began in 1988 is still on the rocks nearly 30 years later, with billions of nera and equipment decaying away. The plan was for the project to be a standard stadium that could compete with any other in the country, if not the continent. When the stadium's foundation was constructed in 1988, it was expected to be one of a kind. The stadium, however, has yet to host its maiden event 32 years later. From 1988 to 2014, a total of 7 billion nera was spent building the construction with another 4 billion nera needed to finish it. The project was started by the Plateau State government in 1981 and has a long history. The project's goal was to create a magnificent 5-star hotel destination that would appeal to both investors and tourists. Our OC hotel is situated on 29 hectares of land in Shear Hills, Joss North local government in Plateau State. On completion, the 318-room project will feature presidential suites, luxury suites, executive suites, specialized restaurants, a casino, a standard Olympic-sized swimming pool, and a variety of other opulent amenities. The Niger State government devised the concept to create a 5-star hotel in 2009, but the project was abandoned. The project has so far cost 500 million nera, but it still needs 19.6 billion nera to be completed. The Millennium Tower and Cultural Center is one of several developments in Nigeria's capital city of Abuja's Central District. It is Abuja's tallest artificial structure, standing at 170 meters. Manfredi Nikolte built the tower, which is part of the Nigerian National Complex, which also contains the Nigerian Cultural Center, a low-rise, pyramid-shaped 8-story building. The tower began building in 2006 and was completed in 2014, but the Cultural Center is still being built. The project is set to be completed in 2011, just in time for the capital's 20th birthday, and it promises to be far more interesting. 5. Bailsa Tower Hotel The 18-story, 5-star tower hotel project was codenamed Tower of Controversies since it has sparked debate in Bailsa State. The late D.Pri Alaymi Esaya started the initiative to serve as a tourism destination for people from all walks of life in Nigeria. The project, however, is nowhere near completion after six governors and billions of nera spent. The multi-billion nera state-owned project, however, has become the proverbial stillborn several years after the notion was conceived and billions of nera put into it. 4. Sulaja International Hotel When the notion of relocating Nigeria's capital city from Lagos to Abuja was considered, federal peristals were located in the Sulaja Emirate. For nearly 37 years, the Sulaja International Hotel located at the foot of the iconic Zuma Rock on the Abuja Cajunar Road has been abandoned. Because of its strategic location, near to the stunning Zuma Rock, the Sulaja International Hotel project was launched not only as a 5-star hotel, but also as a tourist center based on these considerations. However, work on the structures has been abandoned for decades, therefore the idea has not come to conclusion. Zuma Rock has been blamed for the Niger State Government's decision to discontinue the Sulaja International Hotel project, which began 39 years ago. For many years, various tales have surrounding the famed rock, including that it is a portal to the afterlife, a celestial protector, and supernatural creature, and an avenger of wrongdoings against those who reside nearby. 3. Federal Secretariat Aikoi The Federal Secretariat complex in Aikoi, Lagos state, used to be a bustling facility, housing government businesses, bureaucrats, and others who worked in the several ministries, departments, and agencies that were housed there. Before the country's federal capital was moved to Abuja in 1991, the huge 15-story tower that served as a landmark property in a prime location in Lagos state was stripped of its grandeur and splendor. Louds and miscreants have taken up residence in the masterpiece. 2. Ajiocutus Steel Project The Ajiocutus Steel complex in Kogi state was supposed to form the foundation for Nigeria's industrialization. The steel complex had apparently reached 98% completion as early as 1994. But when it was abandoned, no steel was produced. The project, which was meant to cost $650 million, has cost the federal government over $8 billion. The Senate had passed a measure asking $1 billion from the excess crude account to fund the plant's completion. But the President, Major General Muhaimandabu Hari, had rejected it. This dormant project was conceived in 1979 by General Alosegun Obasanjo's administration with the goal of developing industrialization and establishing a functional steel industry in Nigeria. With a delivery date of 1986, the contract for the establishment of the Ajiocutus Steel Project was signed with Tyed's prom export of the then Union of Soviet Socialist Republic. However, the project has yet to be completed. 1. Nigeria Airways Nigeria Airways was founded in 1958 as the West African Airways Corporation Nigeria with Nigeria as the principal shareholder. Nigerian Airlines had 20 planes and over 8,000 employees during its rule, supplying consumers all throughout West Africa and Europe. Nigeria Airways has been steadily declining since the 1980s due to the adoption of international monetary fund programs as well as corruption, mismanagement, and overstaffing. Since the mid-1980s, the airline has accrued large debts that have outstripped its profits to the point that planes have been detained or confiscated for outstanding obligations. The project as a whole was never completed. Corruption has become a major call for concern in Nigeria as many projects are left uncompleted as a result of individuals embezzling funds for their personal use. For these projects to be completed, the government needs to be corruption-free and not let individuals meddle in the affairs of the state. For more updates, please make sure to like, share, comment, and subscribe to Africa Reloaded.