In a bold step toward fixing Nigeria’s aging road infrastructure, the Federal Government has doubled down on its strategy to attract over ₦1.5 trillion in private investment for highway projects—signaling a new era of public-private collaboration aimed at boosting growth, jobs, and connectivity.
The move, anchored on the Highway Development and Management Initiative (HDMI), was reinforced at a high-level meeting chaired by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, alongside his Budget and Economic Planning counterpart, Senator Abubakar Atiku Bagudu.
Director of Information and Public Relations, Muhammed Manga in a statement said the meeting brought together concessionaires overseeing nine key highway corridors covering more than 900 kilometers.
Explaining further the state indicated that each project is structured as a long-term concession deal that allows private investors to fund, build, operate, and maintain the roads over a 25-year period.
According to Mr. Edun, this approach represents a critical shift away from dependence on public budgets toward a market-driven strategy that leverages institutional and global capital to fast-track infrastructure delivery.
“We have stabilised the economy. Now we must grow—faster, broader, and inclusively. Private-led infrastructure delivery is central to that mission,” Edun said, pointing to the ongoing Benin–Asaba expressway concession as a model of success.
The Finance Minister also confirmed that all concessionaires are expected to show proof of funds, in line with the Ministry of Works’ directive, to ensure early mobilisation and timely execution of the projects.
Senator Bagudu highlighted the economic transformation potential of the initiative, stressing that allowing investors to recover costs through tolling would help close the country’s massive infrastructure financing gap without burdening public coffers.
The HDMI is a central pillar of President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritizes fiscal responsibility, economic expansion, and job creation.
With the private sector now firmly at the heart of road development, the government believes a new path is being paved—not just with asphalt, but with opportunity.