In a bid to fast-track economic growth and bridge Nigeria’s infrastructure deficit, the Federal Government has placed renewed emphasis on private sector investment in highway development, anchoring its strategy on long-term public-private partnerships.
At a high-level meeting chaired by the Coordinating Minister of the Economy and Minister of Finance, Mr. Wale Edun, alongside the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, on Wednesday the government reiterated its commitment to the ₦1.5 trillion Highway Development and Management Initiative (HDMI).
The session brought together concessionaires responsible for nine highway corridors spanning over 900 kilometres. Each of the projects will be delivered under 25-year concession agreements.
Mr. Edun stressed that the government’s focus has shifted from stabilisation to growth and that infrastructure is at the heart of that agenda. “We have stabilised the economy. Now we must grow—faster, broader, and inclusively,” he said. “Private-led infrastructure delivery is central to that mission.”
He cited the Benin-Asaba corridor as a “proof of concept” that has gained traction with support from institutional and global investors. However, Edun issued a cautionary directive from the Minister of Works: all concessionaires must show verifiable proof of funding before mobilisation.
Senator Bagudu echoed the government’s stance, stating that President Tinubu’s administration is prioritising a shift from public-heavy financing to private-led models that allow investors to recoup costs through tolling mechanisms. “It’s about closing the funding gap without overburdening public coffers,” he said.
