The Federal Government has initiated high-level talks with private concessionaires prepared to invest over N1.5 trillion in Nigeria’s road infrastructure but whose projects have stalled due to unresolved administrative challenges.

At a meeting on Wednesday in Abuja, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun; the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu; and the Director-General of the Infrastructure Concession Regulatory Commission, Dr. Jobson Ewalefoh, met with representatives of the concessionaire firms to address the concerns delaying the start of major highway projects.

The Minister of Works, Dave Umahi, who participated in the meeting virtually, assured the concessionaires of the Federal Government’s commitment to resolving all outstanding issues to enable immediate mobilisation to project sites.

During the meeting, Edun revealed that the government had concluded agreements for the reconstruction and management of nine major highways covering about 900 kilometres.

These include the Lagos-Badagry-Seme Border, Shagamu-Benin, Lagos-Abeokuta, Abuja-Lokoja, Enugu-Port Harcourt-Owerri-Aba, and Potiskum-Damaturu-Kano-Zaria corridors.

“These road projects are valued at about N1.5tn and will be financed and executed by the private sector under a 25-year concession agreement, with cost recovery through tolling,” Edun said.

Edun noted that although most legal and financial arrangements had been finalised, certain administrative hurdles were still holding back the commencement of work—necessitating the meeting with the investors to address and resolve the delays.

Edun said, “It’s a substantial investment by the private sector, bridging budgetary gaps and taking over revenue-generating assets which they can manage, improve, and maintain over a long period.”

He reaffirmed the Tinubu administration’s commitment to fostering an enabling environment for private investment, emphasizing that highway development is central to the government’s strategy to enhance productivity, generate employment, and alleviate poverty.

The Finance Minister highlighted the Benin-Asaba Highway as a flagship project under the initiative.

Spanning 125km, the road has already been handed over to the concessionaire, and reconstruction is underway. Once completed, the project is expected to shorten travel time between Benin and Asaba from four hours to just one hour.

One of the concessionaires, Mr Kola Karim of Shoreline, urged the government to provide updated, enforceable documentation specifying takeoff and handover dates.

He also called for the signing of an addendum to the original agreements to allow tolling on completed sections of the highways, even as construction progresses on the remaining parts.

“Each concessionaire has unique challenges that need to be addressed,” Karim said.

Although the meeting ended without final resolutions, Edun revealed that a follow-up session had been scheduled for Tuesday, where all stakeholders, including the Minister of Works, are expected to finalise the outstanding issues.

In his remarks, Minister of Budget and Economic Planning, described the meeting as a significant milestone and assured investors of the government’s backing.

“Your funders need confidence that reforms are in place and will be sustained. We are here to give you that assurance,” he said.