₦1.5 Trillion Road Boom: FG Greenlights Private Sector to Supercharge Nigeria’s Highway Revolution
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In a bold reaffirmation of its infrastructure push, the Federal Government of Nigeria has restated its commitment to mobilising ₦1.5 trillion in private sector investment for the transformation of over 900 kilometers of critical highways across the country.
At a high-level meeting chaired by the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, alongside the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, key concessionaires under the Highway Development and Management Initiative (HDMI) gathered to align on the ambitious rollout of nine major road projects.
“These are not just roads; they are economic lifelines,” Edun declared. “Now that we’ve stabilised the economy, the next frontier is growth—fast, broad-based, and inclusive. And that means leveraging private capital.” 
The highway projects, structured under 25-year concession agreements, are designed to be investor-led, with funding expected from both institutional and international sources. The success of the Benin-Asaba corridor—already underway—was highlighted as a template for future concessions.
In a significant policy directive, the Honourable Minister of Works has mandated all concessionaires to present proof of funding before mobilising to site, a move aimed at ensuring timely and credible execution.
Senator Bagudu echoed the government’s pivot to private sector infrastructure financing as a central plank of President Tinubu’s Renewed Hope Agenda. “We’re bridging the public funding gap with sustainable, investor-friendly models—where tolling and smart management make these roads self-sufficient,” he noted.
The HDMI initiative, rooted in fiscal discipline and long-term planning, is expected not only to enhance transportation but also to create jobs, unlock economic corridors, and reduce pressure on government finances.
With Nigeria targeting 3.4% GDP growth in 2024 despite global headwinds and oil revenue constraints, this landmark road investment could mark a turning point in the nation’s infrastructure journey.
