The Benin-Asaba Expressway redevelopment project, a collaborative effort between Africa Plus Partners (APP) and the Federal Ministry of Works, marks a significant stride in Nigeria’s Highway Development and Management Initiative (HDMI). This 125km corridor, part of HDMI Phase 1, is a critical component of the Federal Government’s broader highway program, designed to ensure sustainable development, maintenance, and world-class management of vital road infrastructure. The project is not only about rehabilitating a crucial link between the Southern and Northern regions of Nigeria, but also demonstrates a novel approach to infrastructure financing that leverages private sector investment and emphasizes long-term sustainability. This initiative aligns with President Tinubu’s “Renewed Hope Agenda,” which prioritizes robust infrastructure development as a catalyst for economic growth and improved quality of life.
The official handover ceremony, presided over by the Minister of Works, David Umahi, underscored the transformative potential of this project. Umahi emphasized the government’s commitment to modernizing infrastructure and ensuring its long-term sustainability. He highlighted the Benin-Asaba highway’s importance as a vital trade route and a key component of the nation’s economic backbone, acknowledging the urgent need for its rehabilitation and upgrade. The project’s significance transcends mere road construction; it represents a broader vision for infrastructure development in Nigeria, one that emphasizes private sector involvement, financial sustainability, and long-term value creation. The project aims to not only improve transportation but also stimulate economic activity and contribute to the overall development of the regions it connects.
Edo State Governor, Monday Okpebholo, representing President Tinubu, commended the private sector-led financing structure of the project. Okpebholo hailed the project as a legacy initiative, highlighting the private investors’ confidence in President Tinubu’s vision and the promising future of the Nigerian economy. This sentiment reflects the growing recognition of public-private partnerships as a crucial mechanism for driving infrastructure development in developing economies. The involvement of private investors signifies not only a commitment to the specific project but also a broader belief in the country’s economic potential and the government’s commitment to creating a conducive investment environment.
Wale Edun, the Minister of Finance and Coordinating Minister for the Economy, lauded the project as a milestone in infrastructure financing. Edun emphasized the project’s financial viability, assuring that the necessary funds are secured through APP’s commitment, backed by credible investors. He stressed that this project, independent of direct federal funding, is a testament to the enabling policies of President Tinubu’s administration. Edun further highlighted the project’s significance as a precursor to numerous other infrastructure projects to be rolled out under sustainable financial frameworks that prioritize transparency, efficiency, and speed. This signals a shift towards a more sustainable and predictable approach to infrastructure development, moving away from reliance on volatile government budgets.
Anhad Narula, Chairman of APP, emphasized the company’s commitment to delivering infrastructure that is both economically viable and environmentally sustainable. Narula outlined APP’s approach to building infrastructure that not only connects cities but also creates value through features like solar-powered streetlights and CNG-powered facilities, ensuring 24/7 reliability while minimizing environmental impact. This approach aligns with a growing global emphasis on sustainable infrastructure development, incorporating renewable energy and environmentally friendly technologies to minimize the carbon footprint of such projects. The focus on long-term value creation underscores the importance of building infrastructure that not only serves immediate needs but also contributes to sustainable development goals.
Adeniran Ajakaiye, CEO of APP, expressed gratitude for the visionary leadership of President Tinubu and the Minister of Works in realizing the HDMI program. Ajakaiye described the Benin-Asaba highway project as a blueprint for future road construction in Nigeria, emphasizing efficiency, sustainability, and long-term capital investment. He highlighted the importance of strong local engagement and private sector discipline in delivering transformative impact. The commitment to local engagement underscores the project’s potential to create jobs and stimulate economic activity within the communities it serves, while private sector discipline ensures efficient project execution and financial accountability. This project, therefore, represents not only a crucial infrastructure upgrade but also a demonstration of a new model for infrastructure development in Nigeria, one that leverages private sector capital and expertise to achieve sustainable and impactful results.
