The ruling All Progressives Congress (APC) said it has welcomed the federal government’s introduction of a Highway Development Management Initiative (HDMI), which it said will grant licences to individuals and other private concerns to build, operate and maintain highways across the country, starting with 12 federal roads penciled down for the first phase.
Speaking on behalf of the party, Senator John J. Akpanudoedehe, National Secretary, Caretaker/Extraordinary Convention Planning Committee (CECPC) of APC stated in a press release issued in Abuja on Tuesday, February 23, 2021, that aside being a global best practice, the HDMI road concession arrangement complements previous financing options initiated by the President Muhammadu Buhari administration.
He enumerated these to include 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.
APC said, aside from complementing the infrastructure drive of the President Buhari administration to bequeath a world-class national road network, the concessionaire agreement will ensure the development of indigenous small and medium-scale businesses along the highways and create 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 said.