By Chris Udochukwu
Abuja (Precise Post) – The Federal Government has rolled out the details of new Highway Development & Management Programme (HDMI).
According to the released details, “Phase one is for 10 Federal Government Highways namely: Benin–Asaba; Abuja–Lokoja; Kaduna–Kano; Onitsha–Owerri–Aba; Shagamu—Benin; Abuja—Keffi—Akwanga; Kano–Maiduguri; Lokoja–Benin; Enugu—Port Harcourt; Ilorin—Jebba.”
The HDMI programme is funded by a series of highly-subscribed SUKUK bonds. The third of which has recently attracted a capital investment of N163.3bn for a provision of N16.3bn for each of the 10 roads. This creates and sustains 23,322 jobs on the construction of the 10 highways.
Ajuli Ngelale disclosed this through his twitter handle @AjuriNgelale.
According to Ajuli, SUKUK bonds will be taken annually until Phase one of HDMI is completed by Q1 2023. These capital investments will be paid back through the services provided by investors in the post-construction period, including: Cashless e-Tolling, Rest Areas & Weighbridge Stations.
He stated that Phase 2 will commence with another set of economically-strategic federal highways. Weighbridge stations will fine/stop overloading tankers & trailers which undermine road durability. Rest areas will lessen accidents and open commercial points for vendors, employing locals.
