Roads & Construction
Nigeria To Raise N163.32 Billion Through Road Concessions Programme, Tollgates
The Federal Government has perfected a plan to concession 10 major highways in the country.
This was made known by the Minister of Works and Housing, Babatunde Fashola who told the National Assembly Joint Committee on Works, on Wednesday, that the Federal Government is proposing a plan to concession 10 key highways in the country.
The project will be called the “Highway Project and Management Initiative.”
The roads in the planned project are Onitsha – Owerri– Aba, Shagamu – Benin; Abuja – Keffi – Akwanga; Kano – Maiduguri; Lokoja – Benin; Enugu – Port Harcourt; Benin – Asaba; Ilorin –Jebba; Kaduna – Kano; and Abuja – Lokoja.
Mr. Fashola added that the concessions would raise a total of N163.32 billion, with N16 billion for each road, and over 23,000 jobs would be created in its initial phase.
He also added that the Highway Management Initiative was developed with planned private sector engagement.
Investors are expected to develop the added road infrastructure, from toll plazas to street lights, as the project should attract and maximise the development of Federal road infrastructure.