The federal government has said that the proposed 1,374-kilometre road projects will generate approximately 11.54 trillion naira for the nation’s treasury.
On Thursday, Manji Yarleng, Head of Media and Publicity, Infrastructure Concession Regulatory Commission revealed this in Abuja.
The authority explained that the projects will use the public-private partnership (PPP) model in the concession period of 25 years.
He outlined the routes to include 125 kilometers of the Benin-Asaba road, which has been awarded a 25-year concession and is expected to generate N1.58 trillion with the concessionaire, the Africa Plus Consortium.
Others are the 195km Abuja-Lokoja road which also has a 25-year concession period and is expected to generate US$1.76 trillion with Avia Infrastructure Services Ltd (AISL) as the concessionaire.
According to him, the 161.2-kilometre Onitsha-Owerri-Aba road will generate N706 billion with the Eyimba Economic City consortium as the concessionaire, among others.
Jarling said the projects aim to ensure the management and development of the country’s federal road network and to achieve adequate highway services.
“It also aims at maximizing income generation opportunities for roads and achieving equality in road tolls,” he said.
FG has approved 1,374 km road projects to generate 11.54 trillion nitrogen for Nigeria – ICRC