From Adanna Nnamani, Abuja
The federal government is finalising a N1.5 trillion road concession project under the Highway Development and Management Initiative (HDMI), launched in 2021.
The initiative involves private sector partners reconstructing and managing nine major highways across Nigeria, spanning approximately 900 kilometres, through 25-year concession agreements.
On Wednesday, April 30, Minister of Finance Wale Edun, after meeting concessionaires in Abuja, announced that agreement arrangements are nearly complete. “We met the concessionaires who have virtually concluded all the agreement arrangements for nine major highways, which they will finance, rebuild, and maintain, recovering funds through tolling fees,” Edun said.
He noted that Minister of Works David Umahi, joining virtually from Lagos, will return by Tuesday, May 6, to resolve remaining administrative issues.
Edun noted that the Benin–Asaba Highway (125 km) concession agreement and addendum are signed, with the Ministry of Works handing over the road to Africa Plus Consortium. Preliminary reconstruction has begun for a 10-lane highway, expected to cut travel time from four hours to one, boosting efficiency to the Niger Bridge. “It’s an investment that will reduce travel time between Benin and Asaba,” Edun stated.
The HDMI aims to address funding and maintenance gaps through Public-Private Partnerships (PPP), initially targeting 12 highways (1,963 km), including Benin–Asaba, Abuja–Lokoja, and Enugu–Port Harcourt. It is projected to create 50,000 direct and 200,000 indirect jobs, per the Infrastructure Concession Regulatory Commission (ICRC).
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