The federal government says it is considering the concession of 10 highways to generate investments and provide jobs.
Babatunde Fashola (pictured), the minister of works and housing, told the joint senate and house committee on Wednesday that the estimated impact of the concession is N163.32 billion and 22,000 jobs.
There are 35,000 federal highways in the country.
NAN reports that the meeting was organised to deliberate on the public-private partnership on road and infrastructure with the ministry of works and housing and the Infrastructure Concession Regulatory Commission (ICRC).
The minister listed the roads being considered for the concession as Benin-Asaba, Abuja-Lokoja, Kaduna-Kano, Onitsha-Owerri-Aba, Sagamu-Benin, Abuja-Keffi-Akwanga, Kano-Maiduguri, Lokoja-Benin, Enugu-Port Harcourt and Ilorin-Jebba.
Fashola said the plan would attract sustainable investment and funding in the development of road infrastructure, maximise the use of assets along the right of way and develop other highway furniture.
He said the highway development and management initiative (HDMI) was hinged on private sector engagement, which was broken down into two categories, including value-added concession (VAC) and the unbundled assets approval (UAA).
Fashola noted that what the ministry sought to do was to bring more diverse capacities to managing road infrastructure.
“The current administration is already involved in those areas: the tax credits, SUKUK and we are looking at many other options,” he said.
In his remarks, Adamu Aliero, chairman of the committee, said the initiative would add value to the roads and ease funds for other critical sectors of the economy
“Toll plazas were demolished overnight, not minding the fact that a lot of money was used in constructing them. There was no legislation; strong legislation that will prohibit that kind of a thing,” he said.
“I can assure you that with the kind of support we have with the leadership of the national assembly and the two committees, we will come up with very strong legislation that will give legal backing to this.
“No administration will come and overturn it.”
He said that having such strong legislation was the only thing with which the government could convince the private sector to come and invest.