The Federal Government has said that the Highways Management and Development Initiative will facilitate the concessions of major highways to improve road infrastructure.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made this announcement during a Zoom dialogue meeting in Abuja on Thursday.
“The Highways Management and Development Initiative would facilitate the concessioning of major highways to improve road infrastructure,” he said.
Edun began by outlining the significant progress Nigeria’s economy has made in the last 18 to 20 months, having narrowly avoided collapse after relying on illegally borrowed Central Bank’ funds that far exceeded regulatory limits.
“Where we are now is that, in the last quarter of 2024, the economy grew at roughly 3.84 per cent, which is close to the annual target of 3.4 per cent,” Edun said.
He noted that inflation had begun to ease, dropping by 1.3 percentage points between January and February, while food inflation also showed signs of decline. The cost of petroleum and energy, he added, had decreased due to sectoral dynamics.
