FEC approves reconstruction, concessioning of nine federal highways

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The Federal Executive Council has approved the reconstruction and concessioning of nine federal highways across Nigeria.

This was stated by the Infrastructure Concession and Regulatory Commission on Twitter on Friday.

Eight of the roads are to be handled by the concessionaires for a minimum of 25 years while the ninth is for 27 years.

Four other proposals have yet to get approvals.

The tweets read: “The Federal Executive Council under the regulatory guidance of @icrcng approves construction/ management of 9 highway Corridors as part of the Highway Development and Management Initiative (HDMI) of @FMWHNIG .
1, 374km highway to be constructed. N11.54trn revenue expected.

Approved routes/Concession Term/Revenue:

1: Benin-Asaba, 125km; 25-year term, N1,588,774,183,303.
2: Abuja-Lokoja, 195km; 25-year term, N1,762,597,600,000
4: Onitsha-Owerri-Aba, 161.2km; 25-year term, N706,129,383,000
5. Shagamu–Benin, 258km; 25-year term, N2,049,036,914,300
6. Abuja-Keffi-Akwanga, 175.9km: 25-year term, N540,568,857,116 revenue.
7A Kano-Shuari, 100km; 27-year term, N813,463,452,806 revenue.
9. Enugu–Port Harcourt, 200km; 25-year term, N1,154,416,153,000.
11. Lagos-Ota-Abeokuta, 80km; 25-year term, N1,575,841,857,561 income.

12. Lagos-Badagry-Seme Border, 79km; 25-year term, N1,352,993,335,000
Three Corridors 3, 8, 10 and Route 7B are yet to get to the approval stage.”

 

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