The Minister of Works, Dave Umahi, has initiated discussions with the African Development Bank regarding potential funding for the construction of segments of the Coastal and Trans-Saharan Highways within Nigeria.
The crucial talks unfolded during a meeting held at the ministry’s headquarters on Tuesday, led by Umahi and a delegation from the African Development Bank, spearheaded by Mike Salawou, the Director of Infrastructure and Urban Development.
Uchenna Orji, the Special Adviser on Media, conveyed that the government is actively seeking avenues for investment in infrastructure development along the coastal and trans-Saharan routes. These investment opportunities encompass various sectors such as hospitality, tourism, agriculture, real estate, parks, and industrial ventures.
Umahi emphasized the necessity of funding to address sections of the Coastal and Trans-Saharan Highways that are yet to be constructed, awarded, or taken over by concessionaires under the Highway Development and Management Initiative.
This ambitious project aims to establish enduring infrastructure and spur industrialization along the corridors, creating a robust network of paved highways conducive to efficient transportation and trade flow along the North-South corridors.
Umahi disclosed, “The Ministry of Works has initiated discussions with the African Development Bank regarding potential funding for the construction of some sections of the Coastal and Trans-Saharan Highways in parts of Nigeria.”
He delineated the scope of the coastal road, spanning 700 kilometres from Lagos through Ogun State to Ondo State, traversing the coastal states of Delta, Bayelsa, Rivers, Akwa Ibom, and concluding in Cross River.
He also highlighted the ongoing efforts, including the recent awarding of section one, phase one, spanning 47.47 kilometers to Hi-tech Construction Limited.
In response, Mike Salawou reaffirmed the African Development Bank’s commitment to supporting Nigeria’s sustainable economic development by offering technical and financial assistance for road infrastructure development.
He expressed his readiness to collaborate closely with the Nigerian government, stressing the importance of conducting the necessary studies to facilitate support for the projects.
The engagement with the African Development Bank aligns with the Ministry of Works’ overarching objective of securing additional funding to revitalise the nation’s economy. Despite allocating substantial funds in the 2024 budget for road construction and rehabilitation, the state of highways remains a pressing concern, necessitating supplementary sources of funding.
Furthermore, the Federal Government recently secured a €25 million grant from the Netherlands for the construction of 28 priority bridges in Nigeria, demonstrating ongoing efforts to address infrastructure challenges. Additionally, the Ministry of Works is actively engaging concessionaires and private sector entities to attract investments in the construction of 35,000 kilometres of federal road networks, further bolstering infrastructure development efforts nationwide.