The North East Development Commission (NEDC) has revealed that it has taken over the reconstruction of major bridges destroyed by Boko Haram insurgents in the North-East.
Mr Mohammed Alkali, the Managing Director of the commission, disclosed this during the inauguration of the commission’s infrastructure reconstruction and rehabilitation projects on Tuesday, March 2, in Yola.
Alkali said that the 12 years of insurgency in the region had affected commerce, following the destruction of markets, roads, and bridges as well as public sector infrastructure.
He said the Federal Ministry of Works and Housing had awarded numerous contracts for the rehabilitation and reconstruction of roads in the region.
TODAY
February 26, 2021
The federal government plans to hire an asset manager for its new Infrastructure Development Company (Infraco), designed to raise as much as N15 trillion ($36.7 billion) for infrastructural projects and to accelerate growth.
President Muhammadu Buhari about a fortnight ago, had approved the establishment of the Infraco, a Public-Private Partnership-styled infrastructure company with an initial seed capital of N1 trillion, to tackle Nigeria’s growing infrastructure deficit.
A report yesterday by Bloomberg quoted a source as saying that the Central Bank of Nigeria (CBN) and its funding partners, the Africa Finance Corporation (AFC) and Nigeria Sovereign Investment Authority (NSIA), are seeking proposals from companies to independently manage the infrastructure company’s capital-raising plan.
•PwC, KPMG, others apply to be transaction advisers
Peter Uzoho with agency report
The federal government plans to hire an asset manager for its new Infrastructure Development Company (Infraco), designed to raise as much as N15 trillion ($36.7 billion) for infrastructural projects and to accelerate growth.
President Muhammadu Buhari about a fortnight ago, had approved the establishment of the Infraco, a Public-Private Partnership-styled infrastructure company with an initial seed capital of N1 trillion, to tackle Nigeria’s growing infrastructure deficit.
A report yesterday by Bloomberg quoted a source as saying that the Central Bank of Nigeria (CBN) and its funding partners, the Africa Finance Corporation (AFC) and Nigeria Sovereign Investment Authority (NSIA), are seeking proposals from companies to independently manage the infrastructure company’s capital-raising plan.
FG restates commitment to completion of abandoned roads tribuneonlineng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribuneonlineng.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