₦airaland Forum

The ministry of finance says the federal government has officially flagged off the 125-kilometre (km) Benin-Asaba superhighway project in Edo state.

In a statement on Sunday, Mohammed Manga, the ministry’s director-general of information and public relations, said the dual-carriageway, solar-lit road, is expected to drive economic growth and connectivity in the region.

He said the project is fully financed by Africa Plus Partners under a public-private partnership (PPP) model.

Speaking during the flag-off ceremony in Benin City, President Bola Tinubu, represented by Monday Okpebholo, governor of Edo state, lauded the project’s financing structure.


“This is a legacy project. For private investors to risk their capital, it shows belief in the President’s vision and the future of our economy,” he said.

On his part, Wale Edun, minister of finance and coordinating minister of the economy, described the project as a milestone in infrastructure financing.

“This is not reliant on direct federal funding. Africa Plus Consortium, backed by credible investors, has put forward the full capital commitment under the enabling policies of President Bola Tinubu,” the minister said.


Edun said the flagship initiative is part of the federal government’s renewed hope agenda, demonstrating how strategic partnerships can unlock long-term value for the economy.

Edun reiterated that the PPP model will be replicated nationwide.

“This is just one of many projects that will be delivered week after week, month after month, through sustainable financial frameworks that ensure transparency, efficiency, and speed,” he added.

Also speaking, David Umahi, minister of works, described the project as a cashless model, which “is not only possible but imminent”.

tundegan:
That road is long overdue.

I am glad the FG is getting it done through PPP.

2special:
PPP, commendable feat but private partnership means their will likely be a toll gates there

bewisemasses:
Great. APC are good at infrastructural development.
But there shud be no loophole to channel a part of these tollgate's funds to a politicians pocket. What Nigerian politicians cannot do in terms of corruption does not exist

dominique:
In other words, the road will be tolled when it's done

sarrki:
What’s bad in tilling it ?

We aren’t as rich as we proclaimed as a nation

Sele08971:
Highly over due

triple996:
Just look at how all these obidients binges are bitter about this good news. I wonder how these people sleep at night with all these hate

abc115:
https://www.thecable.ng/fg-flags-off-benin-asaba-road-project-says-its-private-sector-funded/

chisomkachy:
Nigerian President Bola Tinubu’s first supplementary budget includes a fleet of SUVs for himself and his wife, a presidential yacht and the renovation of his villa amid a cost-of-living crisis for some of the poorest people in the world.

The proposal — which seeks additional funding beyond the annual budget approved by Tinubu’s predecessor — comes as the government asks Nigerians to persevere through pain caused in part by a raft of economic reforms ushered in by the new president. Africa’s most populous country faces rampant unemployment, soaring food prices and a plummeting currency.

Federal lawmakers approved the president’s request for extra spending on Thursday, but eliminated the provision of 5 billion naira ($6.01 million) to buy a presidential yacht. Instead, they doubled the allocation to a student loan fund to 10 billion naira, according Abubakar Bichi, chairman of an appropriations committee in the House of Representatives.

The lawmakers approved 1.5 billion-naira proposed to purchase SUVs for the office of First Lady Oluremi Tinubu — an amount larger than that allocated to many individual federal colleges. The supplementary budget also proposes almost 6 billion naira to purchase SUVs for the presidency — more than the amount initially allocated to fund a student loan program for poor families.


https://www.bloomberg.com/news/articles/2023-11-02/nigeria-budgets-for-suvs-and-yachts-amid-economic-hardship

sarrki:
What’s bad in tilling it ?

We aren’t as rich as we proclaimed as a nation