Nigeria’s Minister of Finance, Wale Edun, says the Federal Government will soon finalise a N1.5 trillion road concession project.
Edun disclosed this during a meeting with some private sector investors in Abuja on Wednesday.
He said that the government was on the verge of finalising the landmark N1.5 trillion road concession project, launched in 2021 under the Highway Development and Management Initiative (HDMI).
The roads include Benin–Asaba, Abuja–Lokoja, Kano–Katsina, Onitsha–Owerri–Aba, Shagamu–Benin, Abuja–Keffi–Akwanga, and Kano–Shuari.
Others are the Potiskum–Damaturu, Lokoja–Benin, Enugu–Port Harcourt, Ilorin–Jebba, Lagos–Ota–Abeokuta, and Lagos–Badagry–Seme roads.
Edun said that the concessionaires were expected to recoup their investments through tolling fees.
“We met the concessionaires who have virtually concluded all the agreement arrangements for nine roads, nine major highways, which they are contracting to refinance the rebuilding of and to recover their funds from tolling fees under 25-year or so agreements.
“And we met them to iron out the remaining administrative obstacles for the kicking off construction of these roads,”; he said.
The development comes as Nigerians lament the deplorable road network in the country, which poses a significant cause of accidents.
