The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, today chaired a high-level meeting with concession partners under the Federal Government’s Highway Development and Management Initiative (HDMI), reaffirming its commitment to mobilising private capital for national infrastructure delivery.
The session—co-chaired by the Honourable Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu—brought together concessionaires overseeing nine major highway projects spanning over 900km, with a combined investment value of ₦1.5 trillion. These projects are to be delivered under long-term concession agreements of up to 25 years.
Minister Edun stressed the critical role of private sector financing in sustaining Nigeria’s development trajectory, following the return to macroeconomic stability, evidenced by a 3.4% GDP growth in 2024 despite global headwinds and declining oil revenues.
“We have stabilised the economy. Now we must grow—faster, broader, and more inclusively. Privately-led infrastructure delivery is vital to achieving that objective,” he stated.
He cited the Benin-Asaba highway concession as a successful proof of concept, already progressing with financing from institutional and international partners. He also conveyed the Honourable Minister of Works’ directive requiring concessionaires to provide proof of funds to ensure immediate mobilisation and project delivery.
Senator Bagudu underscored the administration’s strategic pivot toward private sector-led infrastructure development, enabling investors to recoup investments through tolling mechanisms while bridging public financing gaps.
The HDMI initiative is a cornerstone of the Renewed Hope Agenda, grounded in fiscal responsibility, strategic investment, and inclusive job creation.