ln247 logo

Economic Reform Agenda: Federal Government Targets N1.34tr From Concession Of Roads

The Federal Government has hinted that it will concession 35,000 kilometers of roads across the country, which will attract N1.134 trillion revenue.

This followed its economic reform agenda, anchored on public-private partnership (PPP) meant to develop and manage two federal roads in each geopolitical zone of the country, thereby supplementing the government’s budgetary allocation for development.

Minister of Works and Housing, Babatunde Raji Fashola, stated Monday, during the presentation of certificates of 12 roads in Abuja, saying this was the first phase, which commenced with breaking the projects into smaller highways.

On the concession plan, he explained that no part of the country would be left out, adding that government was doing these to address marginalisation as all stakeholders had been consulted on the plan.

Meanwhile, Director, PPP Resource Department, Michael Ohiani, listed the routes for the concession as the Benin-Asaba, Abuja-Lokoja, Kano-Katsina, Onitsha-Owerri-Aba and Shagamu-Benin road networks.

Others are, Abuja-Keffi-Akwanga, Kano-Shuari, Potiskum-Damaturu, Lokoja-Benin, Enugu-Port Harcourt, Ilorin-Jebba, Lagos-Otta-Abeokuta and Lagos-Badagry-Seme roads, which negotiations would end in December this year.

Ohiani stressed that the challenges and lessons learnt from the pilot PPP scheme would provide a guide in future transactions on other viable routes of the road networks in the country.

He explained that in the long term, the successful implementation of the scheme would lead to the imparting of new knowledge and skills on Nigerians with regards to development, operations and maintenance of highways and other road infrastructure across the country.

Related Articles


Please enter your comment!
Please enter your name here

For Advert Placements, Email: info@ln247.news

Latest Articles