The Nigerian government is set to reintroduce toll gates on Nigerian roads as 12 highways have been earmarked for concession to private companies.
This was made known on Friday in Abuja by the Minister of Works and Housing, Babatunde Fashola, while receiving the Outline Business Case Certificate of Compliance for 12 pilot federal highways billed for the concession which signifies the return of the toll gates as concessionaires will have to recoup their investments.
The Minister said that the 12 earmarked roads were under the ministry’s Highway Development Management Initiative, adding that the Infrastructure Concession Regulatory Commission would hand over the certificate to the ministry at the FMWH headquarters in the FCT.
FG to commence procurement process for concession of highways FG to commence procurement process for concession of highways
Share
The Federal Government (FG) has unfolded plans to commence procurement process for the highway concessions under the Highway Development and Management Initiative (HDMI).
It said the HDMI would facilitate further development of Nigeria’s federal highway network by bringing in investment to improve efficiency, accountability, and profitable entrepreneurship to the operation, management, and maintenance of all assets within the Right of Way on the highways.
The Minister of Works and Housing, Mr Babatunde Fashola, stated this at the official handover of the Certificate of Compliance by ICRC, on Friday, in Abuja.
Vanguard News
FG to concession 12 highways to private sectors
On
By Chris Ochayi – Abuja
Faced with reality of paucity of funds confronting it, the Federal Government, Friday, commenced the procurement process to concession 12 highways to the private sectors under the Public Private Partnership, PPP, scheme.
The concessions arrangement tagged the ‘Highway Development and Management Initiative HDMI’, being promoted by the Federal Ministry of Works and Housing, would attract investments to the tune of over N1.134 trillion.
The 12 highways selected for the pilot scheme include the Benin-Asaba, Abuja-Lokoja, Kano –Katsina, Onitsha-Owerri-Aba, Shagamu-Benin, Abuja-Keffi-Akwanga, Kano-Shuari, Potiskum-Damaturu, Lokoja-Benin, Enugu-Port Harcourt, Ilorin-Jebba, Lagos-Ota-Abeokuta, and Lagos-Badagry-Seme.
Spread the love
Head, Nigeria Bureau, Lagos
(AFRICAN EXAMINER) – Business institutions and budget specialists in the country have agreed to constitute implementation, monitoring and supervision body, so as to influence the economic policies makers to be more proactive, disciplined and efficient, as well as ensure excellent budget performance in every fiscal year.
The Abeokuta Business School ABS, Crescent University’s Director, Dr. Jubril Salaudeen while reacting to the budget and business professionals, at the school’s “Colloquium on 2021 FGN Budget”, Tuesday in Abeokuta, the Ogun State capital, declared that the idea of budget implementation monitoring was a brilliant one and a pragmatic approach to put the government on its toes – towards a substantial compliance to budget provisions.