Lagos-Ibadan Expressway under construction
Nigeria has reiterated that its focus on roads rehabilitation and construction will boost socio-economic activities retarded by poor road conditions.
In a fact-sheet on the performance of the Buhari Administration, the Presidency says the Presidential Infrastructure Development Fund (PDF) has so far invested over a billion dollars in the Lagos-Ibadan Expressway, the Second Niger Bridge, and the Abuja-Kaduna-Zaria-Kano Expressway.
It says the issuance of Executive Order 7 has mobilised private investment into the development of key roads and bridges, citing the Bodo-Bonny in Rivers State, and Apapa-Oshodi-Oworonshoki-Ojota in Lagos State.
According to the scorecard, the Highway Development and Management Initiative, HDMI, a public-private partnership programme, has succeeded in mobilising over a trillion Naira in its initial private investment into the development and maintenance of 12 roads, totalling 1,963 kilometres in length.
The administration says over 360 billion Naira worth of Sukuk Bonds raised since 2017 has been sunk in the construction and rehabilitation of dozens of critical road projects across the six geopolitical zones.
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