EKO HOT BLOG reports that the Minister of Works, Senator David Umahi, yesterday met behind closed doors with prominent members of Nigeria’s business community to deliberate on new strategies of engaging the private sector in providing financing for the nation’s road infrastructure.
The meeting, which was part of a series of consultations over the involvement of the private sector in infrastructural development, held at the ministry in Abuja.
EDITOR’S PICKS
- JUST IN: FG Gives Fresh Update On ‘Soon-To-Take-Off’ Student Loan Scheme
- FG: New Minimum Wage Committee To Be Inaugurated Before January End
- Lagos Govt Shuts Down Katangua, Oke Afa Markets
Special Adviser (Media), to the Minister, Orji Uchenna Orji, who shed light on some of the issues discussed, said: “In keeping with the road infrastructure initiatives of the Renewed Hope administration of the President, Bola Ahmed Tinubu, the Minister of Works, Sen. David Umahi, has been engaging with concessionaires and other private sector organizations on the need for private sector investment on our road infrastructure as done in advanced economies of the world.
“This informed the closed door meeting the minister had with the governor of Taraba State, Dr. Agbu Kefas, Founder and CEO of Dangote Group, Alhaji Aliko Dangote, founder and chairman of Heirs Holdings, Chief Tony Elumelu this day, January 24, 2024, (yesterday) at the Federal Ministry of Works.
It would be recalled that the minister of works, in his zeal to change the ugly narrative of road infrastructure in Nigeria, had set up three committees to work on the contracts executed by some concessionaires with the federal ministry of works, with a view to reviewing the scope and cost implications of the projects they undertook to execute under the Highway Development and Management Initiative, HDMI.
“This private sector initiative will fastrack road infrastructure revolution and bring order, accountability and profitable entrepreneurship to the operations,management and maintenance of federal highways.
“The governor of Taraba State who retired as a military professional was a one-time chairman, Governing Board of Directors Nigerian Maritime Administration and Safety Agency, NIMASA, before he became governor.
“The founder and CEO, Dangote Group, is one of Africa’s foremost captains of industry who have made ambitious investments in the development of infrastructure in Nigeria, just like his counterpart and chairman of Heirs Holdings who is also one of Africa’s leading investors who have shown manifest commitment in the transformation of Nigeria’s infrastructure through long- term investment in strategic sectors of Nigeria’s economy, including financial services, and infrastructure development.
“It is hoped that investors, local and international, would take advantage of the will power of President Bola Ahmed Tinubu’s Renewed Hope administration and the private sector experience and professional capacities of the minister of works to invest in the over 35,000 Km of national road network being managed by the federal government, as this network carries more than 70 per cent of the vehicular traffic.
”This makes it a critical infrastructure for the movement of goods and services across the nation. This initiative will trigger economic development, job creation, local content development and wealth creation for the Nigerian population.
FURTHER READING
- Court To Deliver Judgment On Rivers Assembly, Fubara Suit Today
- Over 90% Of Ibadan Explosion Victims Have Been Discharged – Makinde
- Abuja: Senate Will Summon Wike Over Kidnapping Epidemic – Kingibe
”The President means business with his efforts to prosper our country and make it the pride of Africa. Your support is critical.”
Click to watch our video of the week
Advertise or Publish a Story on EkoHot Blog:
Kindly contact us at [email protected]. Breaking stories should be sent to the above email and substantiated with pictorial evidence.
Citizen journalists will receive a token as data incentive.
Call or Whatsapp: 0803 561 7233, 0703 414 5611
