Nigeria Seeks $35 Billion Partnership for Concrete Roads

The Minister of Works, David Umahi, has unveiled an ambitious plan to revolutionize Nigeria’s road infrastructure, disclosing that the government is seeking a $35 billion investment to kickstart the construction of concrete roads across the nation.

In a strategic move, Umahi emphasized the crucial role of the moribund Ajaokuta steel company, stating that it will contribute 16% of the steel material essential for the concrete pavement.

During a high-stakes meeting with the Minister of Steel Development, Shuaib Audu, at the ministry’s headquarters in Abuja, the ministers underscored the necessity of coordination and cooperation to execute the Federal Government’s action plans for national development.

Umahi highlighted the financial aspect of the undertaking, indicating that the required funding would be sourced through a partnership with a commercial bank, subject to approval by the Federal Executive Council. He emphasized the urgency of the initiative, stating, “If we start waiting for FG, it might become difficult.”

The minister further detailed the breakdown of the investment, with 30% allocated to cement and 16% to steel, showcasing a well-thought-out strategy.

Acknowledging the challenges inherited by President Buhari’s administration, Umahi commended the president’s passion for innovative solutions.

He stated, “The good thing is that if you have passion for something, God will give you an idea.”

In response, the Minister of Steel Development emphasized the initiative’s significance, highlighting its potential to create job opportunities, stimulate economic growth, and restart the Ajaokuta Steel Plant, which has been inactive for almost four decades.

This collaboration, if endorsed, not only signifies a bold step towards modernizing Nigeria’s infrastructure but also aligns with President Buhari’s commitment to thinking outside the box for sustainable development.

The partnership holds the promise of not only transforming the nation’s roads but also revitalizing the steel industry and contributing to the country’s economic prosperity.