FG seeks funding from AFDB for Lagos-Abuja coastal highway
The Minister of Works and Housing, Sen David Umahi, has stated that Nigeria is open to discussion with African Development Bank (AFDB) on possible funding for the construction of some sections of the Coastal and Trans- Sahara Highways. The minister during a meeting with a delegation from AFDB led by its Director, Infrastructure and Urban […]
David Umahi
The Minister of Works and Housing, Sen David Umahi, has stated that Nigeria is open to discussion with African Development Bank (AFDB) on possible funding for the construction of some sections of the Coastal and Trans- Sahara Highways.
The minister during a meeting with a delegation from AFDB led by its Director, Infrastructure and Urban Development, Mike Salawou, said the projects have the economic potential to provide the needed infrastructure and industrialization along their corridors.
“It is expected to carry a large network of paved highways that will create a good transport environment and trade routes for moving goods and services along the North- South corridors. They also have investments on infrastructure including, opportunities for investment in the hospitality industry, tourism, agricultural production, estate, park, and industrial business.
Umahi in a statement by his media aide, Orji Uchenna, said that funding would be required to tackle the sections of the Coastal and Trans-Sahara Highways, which are not yet constructed, awarded, or taken over by concessionaires under the Highway Development and Management Initiative (HDMI).
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Earlier, Salawou said bank has a mandate to contribute to the sustainable economic development and social progress of its regional members individually and jointly and is therefore prepared as a multilateral institution to offer a robust partnership to the Federal Government of Nigeria, especially by providing technical and financial support for the development of road infrastructure in Nigeria.