FG Begins Procurement for Private Management of 12 Highways thisdaylive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisdaylive.com Daily Mail and Mail on Sunday newspapers.
By Omeiza Ajayi, ABUJA
The ruling All Progressives Congress APC has hailed the federal government’s introduction of a Highway Development Management Initiative HDMI, which will grant licences to individuals and other private concerns to build, operate and maintain highways across the country.
About 12 federal roads have been pencilled down for the first phase of the initiative.
National Secretary of the APC’s Caretaker Extraordinary Convention Planning Committee, Sen. John James Akpanudoedehe in a statement issued Tuesday in Abuja said “aside from being a global best practice, the HDMI road concession arrangement complements previous financing options initiated by President Muhammadu Buhari administration, including the Sukuk Bond; Presidential Infrastructure Development Fund (PIDF) – a dedicated fund for the construction of the Second Niger Bridge, the 375km Abuja-Kano Road and Lagos-Ibadan Expressway and the Road Infrastructure Tax Credit which the Dangote Group and LNG
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.
Fashola receives certificate of compliance for 12 federal roads concession from ICRC
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The Minister of Works and Housing, Mr Babatunde Fashola has received the Outline Business Case Certificate of Compliance for 12 federal road corridors for concession by the Infrastructure Concession Regulatory Agency (ICRC).
Fashola received the document from Mr Micheal Ohiari, acting-Director-General, ICRC at a formal handover ceremony on Friday in Abuja.
According to him, the concession option is another way of financing the construction and maintenance of federal roads which is also key to Buhari’s administration.
“You must have heard about the road infrastructure tax credit scheme. That is being used on the Apapa-Oshodi road, the Bonny Bridge and a couple of other roads, then we have the Sukuk funding.