Fed Govt targets N163b from new road investment initiative

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The Federal Government on Wednesday unveiled an initiative capable of generating N163.323 billion in a new arrangement to concession 10 routes across the country.

It also said the initiative will create at least 23,322,000 jobs in the first phase, which covers 2,275 kilometres of the Federal highways spread across 10 routes in the six geopolitical zones.

He explained that the initiative is anchored on private sector engagement to develop and manage the nation’s road networks. “Because the undertaking is big, we have decided to take it in very small sizes, just to test and see what it looks like and what is possible. We believe that if we start small and succeed, we can then scale up and grow big.“So, we are looking at 10 routes for the value-added concession across Nigeria’s highway. As much as possible, we have tried to ensure that there is geographic spread in those 10 routes as pilot.

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