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COVERNEWSLETTERREAL ESTATE & CONSTRUCTION

Bid For Concession Of 12 Federal Roads Opens Tuesday – Ministry

Senate Rejects $434.7m Request For Road Repairs

The Federal Ministry of Works and Housing will officially open up 12 federal roads officially for the concession on Tuesday, June 1, 2021, as part of the Highway Development and Management Initiative (HDMI).

The ministry, in a statement signed by a spokesperson for the Ministry of Works, Boade Akinola, on Sunday, said that the bidding process would be open in the presence of the Infrastructure Concession Regulatory Commission (ICRC) and other interested partners and stakeholders.

The 12 roads that are up for concession in the first phase of the HDMI include Benin-Asaba, Abuja-Lokoja, Kaduna-Kano, Onitsha-Owerri-Aba, Shagamu-Benin, and Abuja-Keffi-Akwanga federal highways.

Others include Lokoja-Benin, Enugu-Port Harcourt, Ilorin-Jebba, Lagos-Ota-Abeokuta, Lagos-Badagry, and Kano-Shuari-PortisKum-Damaturu roads.

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The ministry said applications were received from interested prospective concessionaires in response to the request for qualification.

The Minister of Works and Housing, Babatunde Fashola, received the Certificate of Compliance for the Outline Business Case for the HDMI in December 2020.

This was followed by the official inauguration of the electronic portal by the minister on March 29, 2021.

The Highway Development and Management Initiative was created by the Federal Ministry of Works and Housing to develop and manage the federal road network through private sector investment, maximising the use of assets along the right of way.

The ministry said the initiative aimed at creating an alternative source of financing road development and management across the country while unlocking the massive economic potential of the project routes with attendant job creation.

About Author

Ife Ogunfuwa is an award-winning reporter who is versed in reporting business and economy, technology, gadgets reviews, telecoms, tax, and business policy review, among others. She loves telling stories behind the numbers. She has professional certifications in business and financial reporting. You can reach her via – [email protected]

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