The ruling All Progressives Congress APC has lauded the Administration of President Mohammadu Buhari for the introduction of a Highway Development Management Initiative HDMI.
Under the HDMI, licences will be granted to to individuals and other private concerns to build, operate and maintain highways across the country.
It was gathered that not less than 12 federal roads have been pencilled down for the first phase of the initiative.
Acccording to the National Secretary of the APC’s Caretaker Extraordinary Convention Planning Committee, Sen. John James Akpanudoedehe “aside from being a global best practice, the HDMI road concession arrangement complements previous financing options initiated by President Muhammadu Buhari administration, including the Sukuk Bond; Presidential Infrastructure Development Fund (PIDF) – a dedicated fund for the construction of the Second Niger Bridge, the 375km Abuja-Kano Road and Lagos-Ibadan Expressway and the Road Infrastructure Tax Credit which the Dangote Group and LNG have leveraged on to construct the Obajana-Kabba Road, Apapa-Oworonshoki Road and the Bonny-Bodo Road and Bridge, respectively”.
He noted that the concessionaire concessionaire agreement will ensure the development of indigenous small and medium-scale businesses to build first class road networkcreate thousands of direct and indirect jobs.
“As the President Buhari administration embarks on initiatives to mitigate the economic impact of the COVID-19 pandemic and continue to execute ongoing critical infrastructure projects, we call on the support of all Nigerians and stakeholders.
“The economic impact and gains of the Highway Development Management Initiative value chain and private sector investment estimated at N1.34 trillion for the development and maintenance of the 12 pilot routes are enormous and will benefit all”, he stated.