The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, says the Federal Government will soon finalise N1.5 trillion road concession project.

Edun made the statement during a meeting with some private sector investors in Abuja on Wednesday.

He said that the government was on the verge of finalising the landmark N1.

5 trillion road concession project, launched in 2021 under the Highway Development and Management Initiative (HDMI).

The minister said that the initiative aimed to involve private sector partners in the reconstruction and management of nine major highways across the country, spanning approximately 900 kilometers.

He said that the partners had almost completed all arrangements for the highways, which they would finance, rebuild, and maintain under 25-years concession agreements.

Edun said that the concessionaires were expected to recoup their investments through tolling fees.

“We met the concessionaires who have virtually concluded all the agreement arrangements for nine roads, nine major highways, which they are contracting to refinance the rebuilding of and to recover their funds from tolling fees under 25-year or so agreements.

“And we met them to iron out the remaining administrative obstacles for the kicking off construction of these roads,” he said.

Edun said that the substantial private sector investment would bridge budgetary gaps.

He added that it would also allow investors to undertake revenue-generating projects, leveraging their expertise and resources for long-term implementation and maintenance.

“Thereafter, it will be a question of signing the addendums and moving to the site.

“As you know, already the 125-kilometer Benin–Asaba Highway concession agreement has been signed. The addendum has been signed.

“All arrangements have been finalised, in fact, the ministry of works have handed over the road to the concessionaires.

“They have already started the preliminary arrangements for reconstruction of that road in place of a 10 lane highway.

“It is an investment, it’s a project and an initiative that will reduce the travel time between Benin and Asaba right up to the Niger Bridge,” the minister said.

Edun said that the Benin–Asaba Highway project, which has already commenced, is expected to reduce travel time between Benin and Asaba from four hours to one hour, significantly enhancing productivity and efficiency in the region.

He described the HDMI, launched in 2021, as a strategic programme by the federal government aimed at attracting private sector investment to improve Nigeria’s federal road network.

Edun said that the initiative seeks to address the challenges of inadequate funding and maintenance by leveraging Public-Private Partnerships (PPP) to develop and manage road infrastructure.

Under the HDMI, 12 highways were initially selected for concession, covering a total of 1,963 kilometers.

These roads include Benin–Asaba, Abuja–Lokoja, Kano–Katsina, Onitsha–Owerri–Aba, Shagamu–Benin, Abuja–Keffi–Akwanga, Kano–Shuari.

Others are Potiskum–Damaturu, Lokoja–Benin, Enugu–Port Harcourt, Ilorin–Jebba, Lagos–Ota–Abeokuta, and Lagos–Badagry–Seme roads.

The minister said that the initiative was projected to generate over 50,000 direct and 200,000 indirect jobs, contributing significantly to the country’s economic growth and development.

The Minister of Works, Engineer David Umahi who joined the meeting virtually reassured the private sector partners on the HDMI of the federal government commitment.

He said that everything possible would be done to resolve the contending issues, adding he will soon be back to address all pending issues.

One of the concessionaires, Mr Kola Karim, representing Shoreline, emphasised the need for right and enforceable documents stipulating the takeoff and handover dates, which would attract investors to invest their funds.

Other private sector partners also requested for the addendum to the original agreement to be signed that would enable toll sections of the completed highways while work was in progress on other sections.

They noted that each concessionaire has unique challenges that should be dealt with accordingly.

Also in the meeting were Minister of Budget and Economic Planning, Abubakar Bagudu, and the Director General Infrastructure Concession and Regulatory Commission (ICRC), Dr Jobson Ewalefoh

By Jennifer Enuma, Abuja

President Bola Tinubu has congratulated Alhaji Aliko Dangote, the President of Dangote Group, on his appointment to the World Bank’s Private Sector Investment Lab, a body tasked with promoting investment and job creation in emerging economies.

In a statement by Special Adviser on Media and Publicity, Bayo Onanauga, the President described the appointment as apt, given Dangote’s rich private sector experience, strategic investments, and many employment opportunities created through his Dangote Group.

The Dangote Group became one of Africa’s leading conglomerates through innovation and continuous investment.

Dangote Group’s business interests span cement, fertiliser, salt, sugar, oil, and gas. However, the $20 billion Dangote Petroleum Refinery and Petrochemicals remains Africa’s most daring project and most significant single private investment.

“President Tinubu urges Dangote to bring to bear on the World Bank appointment his transformative ideas and initiatives to impact the emerging markets across the world fully” the statement said.

The World Bank announced Dangote’s appointment on Wednesday, as part of a broader expansion of its Private Sector Investment Lab. The lab now enters a new phase aimed at scaling up solutions to attract private capital and create jobs in the developing world.

The CEO of Bayer AG, Bill Anderson, the Chair of Bharti Enterprises, Sunil Bharti Mittal, and the President and CEO of Hyatt Hotels Corporation, Mark Hoplamazian, are on the Private Sector Investment Lab with Dangote.

The World Bank said the expanded membership brings together business leaders with proven track records in generating employment in developing economies, supporting the Bank’s focus on job creation as a central pillar of global development.

By Olasunkanmi Onifade

Abuja, April 29, 2025 The National Gas Expansion Programme (NGEP) has called on stakeholders to promote the integration of gas reticulation systems in estates, districts, and industrial areas, following best practices seen in developed countries.

Chairman of NGEP, Prof.

Mohammed Ibrahim, made the call on Tuesday during the Builders’ Conference and Annual General Meeting of the Nigerian Institute of Building (NIOB), FCT Chapter, in Abuja.

The conference, themed “Gas Reticulation in Building: Design, Safety, Environmental Compliance and Prospects for Builders,” focused on enhancing energy infrastructure in Nigeria’s built environment.

Ibrahim noted that with Nigeria’s vast natural gas reserves, gas reticulation offered a sustainable solution to improve energy accessibility, affordability, and reliability in homes and businesses.

“Gas reticulation in buildings presents a compelling pathway to a more sustainable, efficient, and resilient built environment.

“By prioritising sound design principles and ensuring strict adherence to safety and environmental standards, we can unlock the full potential of natural gas to drive progress,” he said.

He highlighted the key benefits of gas reticulation, including energy efficiency, cost effectiveness, versatility, and reliability.

Also speaking, the Chairman of the Council of Registered Builders of Nigeria, Samson Opaluwah, stressed the importance of capacity building for safe and efficient gas distribution.

He said this involved training engineers, technicians, and other professionals in system design, installation, and maintenance, while also strengthening regulatory frameworks and encouraging local innovation and manufacturing.

The Chairman of NIOB, FCT Chapter, Usman Okehi, emphasised the growing need to incorporate gas systems in residential, commercial, and industrial developments across Nigeria due to rising energy demands and gas availability.

According to him, with this advancement comes the need for strict adherence to design standards, rigorous safety protocols, and full environmental compliance.

“It is our responsibility as professionals and regulators to ensure these systems are functional, safe, and environmentally sound,” Okehi said.

He described the conference as a platform where stakeholders could explore the evolving landscape of gas infrastructure in building projects, share best practices, examine safety and environmental considerations, and assess future opportunities for builders in the sector.

The News Agency of Nigeria (NAN) reports that the Nigerian Institute of Building is the professional body for builders in Nigeria. It traces its origins to the Builders’ Society, established in London in 1834.