FG to realise N11.54tn from highway concession

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Abuja, Jan. 20, 2023 – The Infrastructure Concession Regulatory Commission (ICRC) says government will realise N11.54 trillion on the 25-year concession granted for maintenance of some highways in the country.

Manji Yarling, the Acting Head, Media and Publicity of ICRC, said this in a statement in Abuja on Thursday.

The ICPC said that the approvals came through the Highway Development and Management Initiative (HDMI).

It said the goals of the project were to ensure efficient management and development of the country’s federal road network and provide adequate highway services.

The ICPC said that the aim of the partnership was also to supplant the federal government’s budgetary allocation for infrastructure development.

The concession is also to leverage private sector investment to improve facilities and operations on the selected routes, infrastructural development using a commercial approach that bridge s funding gap.

ICRC listed some of the routes approved for concession to include the 125 kilometres Benin-Asaba road which has been granted the concession for a 25-year period and is expected to generate N1.58 trillion with the concessionaire, Africa Plus Consortium.

The 195km Abuja-Lokoja road also has a 25-year concession period and is expected to generate N1.76 trillion with Avia Infrastructure Services Ltd (AISL) as a concessionaire.

The 161.2km Onitsha-Owerri-Aba route would generate N706 billion with Enyimba Economic City Consortium as a concessionaire.

The ICPC said the emergent concessionaires were expected to recoup their investments through the use of road tolls and other land value capture infrastructure. (GBN)

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