FG Backs ₦1.5Trillion Highway Projects Under Private Concessions To Drive Infrastructure Growth

The Federal Government has reiterated its resolve to unlock infrastructure investment through long-term private sector concessions, beginning with the implementation of nine major highway projects valued at ₦1.5 trillion.

This was disclosed by the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, shortly after chairing a high-level meeting with partners under the Highway Development and Management Initiative (HDMI) in Abuja.

The session, held jointly with the Honourable Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, brought together concessionaires overseeing projects that cover over 900 kilometers of federal highways.

Speaking during the meeting, Mr. Edun emphasized the importance of private capital in accelerating infrastructure development, especially in the aftermath of global economic shocks and declining oil revenues.

“We have stabilised the economy. Now, we must grow—faster, broader, and inclusively. Private-led infrastructure delivery is central to that mission,” he stated.

He pointed to the successful concession of the Benin–Asaba highway as a viable model already attracting institutional and global investors. Edun also noted the directive of the Honourable Minister of Works that all concessionaires must present proof of funds to guarantee swift mobilisation and execution of their respective projects.

Also speaking at the meeting, Senator Bagudu reaffirmed the Tinubu administration’s strategic commitment to private sector-led infrastructure development. According to him, the HDMI provides a sustainable framework where investors can recover their capital through tolling mechanisms while closing the nation’s public infrastructure financing gaps.

The initiative, both ministers noted, aligns with the Renewed Hope Agenda of President Bola Tinubu, which is focused on fiscal discipline, strategic investment, and massive job creation.

Director of Information and Public Relations at the Federal Ministry of Finance, Mohammed Manga, FCAI, confirmed the outcome of the meeting in a statement issued in Abuja. According to Manga, “With private sector partners fully onboard, the Federal Government is now better positioned to deliver on its promise of improved infrastructure and economic growth. This marks a significant stride toward achieving the Renewed Hope Agenda’s core objectives.”

The ₦1.5 trillion in planned investments under the HDMI represents a bold step in leveraging private sector efficiency and capital to transform Nigeria’s critical infrastructure landscape.