May 1, 2025
By InvestAdvocate
Lagos (INVESTADVOCATE)-
In a decisive stride toward revitalising Nigeria’s road infrastructure, the Federal Government has unveiled an ambitious ₦1.5 trillion initiative to harness private capital for the development of over 900 kilometres of highways.
Spearheaded under the Highway Development and Management Initiative (HDMI), the programme marks a pivotal shift in policy, anchoring national growth on public-private collaboration.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, announced the initiative following a high-level strategy session in Abuja, co-chaired with the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu. The meeting convened concessionaires overseeing nine priority road corridors, each governed by a 25-year concession agreement.
“With macroeconomic stability restored despite global headwinds and declining oil revenues, the imperative now is to catalyse inclusive growth,” Edun declared. “Private-led infrastructure delivery is not a choice—it is a necessity.”
Citing the Benin-Asaba highway as a successful proof of concept already backed by institutional and international investors, Edun underscored the credibility of the concession model. He also conveyed the Minister of Works’ insistence on demonstrable proof of funding by concessionaires to ensure rapid mobilisation and execution.
Senator Bagudu reinforced the administration’s commitment to leveraging private capital, noting that investors would recover costs through regulated tolling mechanisms—an approach designed to bridge yawning public financing deficits.
The initiative is a cornerstone of President Tinubu’s Renewed Hope Agenda, which envisions a modernised economy underpinned by fiscal prudence, strategic infrastructure investment, and mass job creation.
As Nigeria turns a new page in infrastructure delivery, the federal government’s posture is unequivocal: the private sector is no longer a partner of convenience, but a cornerstone of the nation’s developmental renaissance.
