The Minister of Works, David Umahi, has said that the Federal Government is discussing with the African Development Bank (AfDB) on the possibility of funding the construction of some sections of the Coastal and Trans-Sahara Highways in parts of Nigeria.
Speaking after a meeting with a delegation from AfDB led by the Director of Infrastructure and Urban Development, Mike Salawou, Umahi said the construction is part of the action plan of the Federal Government to increase the economic opportunities of the nation and enhance the transnational investment process as envisioned by the Renewed Hope administration of President Bola Tinubu.
Umahi said this project would be a measure to provide enduring infrastructure and industrialisation along the corridors. He said that it is expected to carry a large network of paved highways that will create a good transport environment and trade routes for moving goods and services along the North-South corridors.
The Minister said opportunities for investment in infrastructure development abound along the coastal and Trans-Sahara routes, including opportunities for investment in the hospitality industry, tourism, agricultural production, estate, park, and industrial business.
He said that funding would be required to tackle the sections of the Coastal and Trans-Sahara Highways not yet constructed, awarded, or taken over by concessionaires under the Highway Development and Management Initiative (HDMI).
Umahi said: “The coastal road is 700 km. That is phase one and it is running from Lagos through Ogun State to Ondo State, passing through the coastal states of Delta, Bayelsa, Port Harcourt, Akwa Ibom and ending in Cross River in 700 kilometres.
“We have spores to the Ogoja road, the one you did, the African Trans-Sahara road that is going to Cameroon. We are sectioning the roads. Just last week, we awarded section one, phase one, and phase one is 47.47 kilometres.
“It’s already been awarded to Hi-tech Construction Limited. We have phase two, which is about 57 kilometres, taking us from the end of phase one. Phase one ends at Lekki Peninsula. It takes us from Ahmadu Bello Way to Lekki deep sea port.
“Phase two takes us to the boundary between Ogun State and Ondo State. That’s about 57km. It’s going to be available for several funders under the lead investor, that’s Hi-tech Construction Nigeria Limited.
“So that is available, and when the discussion comes up, then there will be a need for us to meet with Hi-tech and the Honourable Minister of Finance Coordinating Minister of the Economy.”
On his part, AfDB Director of Infrastructure and Urban Development, Salawou, said the bank has a mandate to contribute to the sustainable economic development and social progress of its regional members individually and jointly.
Salawou said the bank is prepared as a multilateral institution to offer a robust partnership to the Federal Government of Nigeria, especially by providing technical and financial support for the development of road infrastructure in Nigeria.
He said: “So as the African Development Bank, we are ready to assist you. To make it easy for us, we need to have any studies available to make sure how we can support you on this project.
“So, we are ready, we can see where we can find the resources to support you in structuring the different projects. And the third one, the dualisation of the road between Nigeria and Cameroon will foster regional integration between the two countries because I believe Nigeria is Cameroon’s number one trade partner So, we need to reinforce the modernized infrastructure there.”
