AFRICAReports Infrastructure News & Reports Roads

FG Budgets Over N800bn for 2,254 Roads, Bridges in 2024

Flagship projects receiving chunks of funding include the East-West road and strategic Benin-Akure highway which facilitate interstate trade. Similarly, linking northern and southern regions, the critical Kano-Maiduguri road and Enugu-Makurdi artery obtain budget allocations for construction pushes. Culvert and drainage improvements totalling over N5 billion also target frequently flooding roads. Urban centres like Lagos and …read more →

Infrastructure Infrastructure Financing News & Reports Roads

FG Approves Infrastructure Support Fund for States

President Bola Tinubu has approved the establishment of Infrastructure Support Fund (ISF) for states as part of measures to cushion the effects of the petrol subsidy removal on the Nigerians. A statement by Mr Dele Alake, Special Adviser to the President on Special Duties,  Communications, and Strategy, said the approval was disclosed at the monthly …read more →

Infrastructure News & Reports Roads

Second Niger Bridge to Be Completed May 15 — Fashola

The Minister of Works and Housing, Babatunde Fashola, has given May 15 as the expected date of delivery for the Second Niger Bridge with four kilometres until completion. Fashola made the disclosure during a live appearance on a live television show, The 2023 Verdict on Monday. Asked when the project will be delivered, he said, …read more →

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Lagos to Spend N482 bn on Infrastructure Projects in 2023

Lagos Governor Babajide Sanwo-Olu on Friday signed the State’s N1.77 trillion “Budget of Continuity” into law to consolidate the development strides of his administration and satisfy the yearnings of the residents.  The Governor said the fiscal document not only “aggressively” focus on completing ongoing capital projects, but it would also expand intervention programmes and intensify …read more →

Infrastructure Financing News & Reports Roads

Works Ministry Gets N110b Sukuk Funding for Roads

The Federal Ministry of Works and Housing has received a cheque of N110 billion SUKUK fund to build roads in six geo-political zones. A statement by Director of Press and Public Relations, Lere-Adams Blessing, said two ministries benefited from N130 billion 2022 SUKUK fund: Federal Ministry of Works and Housing and Federal Capital Territory, with …read more →

Infrastructure Infrastructure Financing News & Reports Roads

FG Commences Second Phase of NNPC Road Infrastructure Tax Credit Scheme

The Federal Government has stated that the approval of phase two of the Nigerian National Petroleum Company Limited (NNPC) Road Infrastructure Tax Credit Scheme will ensure the sustainability of funding of critical infrastructure in Nigeria. The Minister of Works and Housing, Babatunde Fashola (SAN), who disclosed this in Abuja, noted that unlike in the past …read more →

Infrastructure News & Reports Roads

Julius Berger Restates Commitment to Business Expansion

Julius Berger Plc restated commitment to development and expansion of its business into the future. The company, in its 2021 Sustainability Report, said: “we remain committed to also growing and expanding our potential for a positive impact on people and the planet. “Maintaining the trust of our stakeholders through collaboration, transparency, and superior service will …read more →

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Buhari Commissions Kogi’s First Flyover, Other Legacy Projects

President Muhammadu Buhari, on Thursday, commissioned legacy projects executed by the administration of Governor Yahaya Bello in different parts of Kogi State. President Buhari, who arrived at Okene town around 10am, commissioned the Agassa-Ogboboro Road and the Ohinoyi of Ebiraland Palace before proceeding to meet traditional rulers and top officials of the Kogi State Government. …read more →

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EU Plans $22.7 billion Transport Network, Other Projects Across Africa

The European Union (EU) is working on a €20 billion ($22.7 billion) financing package to support African transport networks, as well as energy, digital, education and health projects to counter China’s reach in the continent. Member states, a Bloomberg report disclosed, however, have yet to commit to financing the infrastructure plans, according to officials familiar …read more →

Infrastructure Infrastructure Financing News & Reports Roads

FG Commences Work on 21 Roads Earmarked for NNPC’s N621bn Funds

The Federal Government has begun work on the 21 roads for which N621 billion was recently earmarked by the Nigerian National Petroleum Company (NNPC) under the Tax Credit Scheme (TCS). The implementation of the scheme coincided with a statement by the Ministry of Works led by Mr. Babatunde Fashola, that contrary to the position of …read more →