Mr Stewart raised his serious concern about the warnings after a presentation to the Infrastructure Committee was made by the Northern Ireland Mineral Products Association on Wednesday.
"This briefing created a grave concern with the whole committee that funding for road maintenance could be exhausted by November unless the Department of Finance can allocate necessary additional funding urgently," he said.
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"The potential impact of having no budget, for even emergency road maintenance, in less than 8 weeks' time, means that lives could be put at risk through dangerous road surfaces.
"It was clear in the presentation that this is a recurring pressure which ultimately increases costs and decreases the ability to deliver a planned road maintenance schedule. The need for multi-year budgets was highlighted as the single most important action the Department can take to reduce this pressure."
Mr Stewart then stated it has been "impossible" thus far to create any long-term strategy due to the collapsing of the Northern Ireland Assembly.
"Every department and service is now suffering from the fact that we have had no functioning Assembly for five of the last seven years," he said.
"We need to see decisive action from the Executive to ensure that what money is available in the next monitoring round is placed where it can make the most impact. We simply cannot allow essential road maintenance to be left unfunded."
