The Ministry of Works is actively engaging with concessionaires and private sector organizations to attract investments for the construction of 35,000km of federal road networks nationwide.
In collaboration with state governors and private-sector leaders, the ministry is exploring funding options to address the deteriorating road network. Minister of Works, David Umahi, held a closed-door meeting with Taraba State Governor, Dr. Agbu Kefas, Aliko Dangote, and Ndudi Elumelu to discuss this initiative and enhance relationships, aiming to find alternative funding methods through Public Private Partnerships for the reconstruction and rehabilitation of federal roads.
The statement read, “In keeping with the road infrastructure initiatives, the Minister of Works, David Umahi, has been engaging with concessionaires and other private sector organisations on the need for private sector investment in our road infrastructure as done in advanced economies of the world.
“This private sector initiative will fast-track road infrastructure revolution and bring order, accountability, and profitable entrepreneurship to the operations, management, and maintenance of Federal Highways.
“It is hoped that investors, local and international, and other organised bodies would take advantage of the willpower of the current administration and the private sector experience and professional capacities to invest in the over 35,000 Km of the national road network. This road network carries more than 70 per cent of the vehicular traffic, making it a critical infrastructure for the movement of goods and services across the nation.”
It further stated, “The founder and CEO of Dangote have shown manifest commitment to the transformation of Nigeria’s infrastructure through long-term investment in strategic sectors of Nigeria’s economy, including financial services, and infrastructure development.
“This initiative will trigger economic development, job creation, local content development, and wealth creation for the Nigerian population. The President means business with his efforts to prosper our country and make it the pride of the African continent.”
In the earlier part of 2021, the Federal Government initiated the procurement process for the 12 federal highways designated for concession through the Highway Development Management Initiative.
Subsequently, on June 1, 2021, the official bid opening for Value Added Concession for federal roads under HDMI was announced. As early as April 2022, the Federal Government disclosed the identification of preferred/reserved bidders for the 12 federal highways slated for concession under the HDMI.
………..
Note : To submit Press Releases, Statements, and Advert Inquiries for publication on Waffi blog (website) or Television 📺, please use the following contact details: You can send an email to info@waffitv.com or reach us via Whatsapp at 07068286500
