By Adaeze Onuora, Abakaliki
In furtherance of the policy direction of the Federal Ministry of Works on road infrastructure development and innovation, the Hon. Minister of Works, Sen. Engr.Nweze David Umahi has said
is working day and night and even on weekends to ensure that Nigerians get value for the massive investments of the President Bola Tinubu on road infrastructure.
Hon. Minister of Works, expressed hope that the new policy on road infrastructure development can geometrically boost the economy, encourage local manufacturing and entrepreneurship, encourage education, enhance solid mineral development, and create job opportunities for Nigerians.
In a press release signed by Barr. Orji Uchenna Orji, the Chief Press Secretary to the Hon. Minister of Works, he explained that the Highway development and management initiative (HDMI) is a Public Private Partnership (PPP) arrangement of Federal Government designed to amongst others, bring order, accountability and profitable entrepreneurship to the operations, management and maintenance of Federal Highways. The recoupe mergent Concessionaires will their investments through Toll and Non-Toll revenues as may be negotiated.
He disclosed that Nigerian Government had passed into law the Infrastructure Concession Regulatory Commission (ICRC) Act. The Act engenders renewed hope in the quest for holistic infrastructural development through the use of alternative sources of financing. It provides the much-needed regulator in the Nigerian PPP space that will attract and enable the private sector to effectively partner with the public sector in the provision of critical infrastructure through a clear framework.
He also stated that Nigeria is currently at the conceptual stage of developing two major highway projects, namely:
the Lagos – Abuja Super Highway, which provides a direct link from Lagos to Abuja; and the Lagos – Calabar coastal Highway that would open up the coastal communities of Nigeria, and this Renewed Hope conceptualization has the potential for enhancing vistas of opportunities in agriculture, tourism, shipping, industrialization and oil and gas.
