FG Unveils Highway Devt & Management Initiative

June 20, 2020
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The Federal Government has, on Friday, unveiled a new Highway Development and Management Initiative (HDMI).

Phase one is for ten Federal Government Highways:

  1. Benin–Asaba;
  2. Abuja–Lokoja;
  3. Kaduna–Kano;
  4. Onitsha–Owerri–Aba;
  5. Shagamu—Benin;
  6. Abuja—Keffi—Akwanga;
  7. Kano–Maiduguri;
  8. Lokoja–Benin;
  9. Enugu—Port Harcourt; and,
  10. Ilorin—Jebba.
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Commenting on the proposed projects, the Federal Government stated in a statement made available to ElombahNews:

“The HDMI programme is funded by a series of highly-subscribed SUKUK bonds.

“The third of this has recently attracted a capital investment of N163.3 billion for a provision of N16.3 billion for each of the ten roads.

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“This creates and sustains 23,322 jobs on the construction of the ten highways.

‘SUKUK bonds will be taken annually until Phase one of HDMI is completed by First Quarter of 2023.

“These capital investments will be paid back through the services provided by investors in the post-construction period, including: Cashless e-Tolling, Rest Areas & Weighbridge Stations.”

The statement also noted that Weighbridge Stations will fine/stop overloading tankers/trailers which undermine user safety and road durability.

‘Rest Areas will lessen accidents and offer commercial points for locals,” it added.



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