The Federal Government has taken steps to remove bureaucratic hurdles that had stalled private sector investment in key road projects for over a year.
The move is part of measures aimed at unlocking significant infrastructure development under a Public-Private Partnership (PPP) framework.
Minister of Finance and Coordinating Minister for the Economy, Wale Edun, disclosed this in an interview. Edun reaffirmed President Bola Tinubu’s commitment to addressing Nigeria’s $100 billion annual infrastructure deficit by mobilizing private capital.
He highlighted recent approvals by the Federal Economic Council, allowing private investors to proceed with the Benin-Asaba Highway and the Lagos-Abeokuta Road both part of the Highway Development and Management Initiative (HDMI), launched under the Buhari administration.
The HDMI initially, he said, attracted strong domestic investor interest but faced bureaucratic delays that slowed execution. Edun said: “Now, with the Tinubu administration’s intervention, the projects alongside a broader 5,000-kilometre road concession programme are moving forward.”
