News

APC Commends FG On HDMI, Says Initiative Will Create Jobs, Boost Economy

Following the federal government’s introduction of a Highway Development Management Initiative (HDMI), the All Progressives Congress (APC) has welcomed the initiative, saying it will create thousands of direct and indirect jobs.

The APC stated this in a statement issued on Tuesday and signed by the National Secretary Caretaker/Extraordinary Convention Planning Committee (CECPC), Sen. John J. Akpanudoedehe.

The government had introduced HDMI to grant licences to individuals and other private concerns to build, operate and maintain highways across the country, starting with 12 federal roads penciled down for the first phase.

Recall that a day ago, the federal ministry of works and housing said that although the main idea behind the new HDMI is not to generate revenue, it was expecting about N1.34 trillion in private investments when the full concession of the roads earmarked for the pilot programme takes off.

According to Akpanudoedehe, the HDMI road concession arrangement will complement previous financing options initiated by the President Muhammadu Buhari administration.

These, he added included, the Sukuk Bond; Presidential Infrastructure Development Fund (PIDF) – a dedicated fund for the construction of the Second Niger Bridge, the 375km Abuja-Kano Road and Lagos-Ibadan Expressway and the Road Infrastructure Tax Credit which the Dangote Group and LNG have leveraged on to construct the Obajana-Kabba Road, Apapa-Oworonshoki Road and the Bonny-Bodo Road and Bridge, respectively.

He also said, “Aside from complementing the infrastructure drive of the President Buhari administration to bequeath a world-class national road network, the concessionaire agreement will ensure the development of indigenous small and medium-scale businesses along the highways and create thousands of direct and indirect jobs.

“As the President Buhari administration embarks on initiatives to mitigate the economic impact of the COVID-19 pandemic and continue to execute ongoing critical infrastructure projects, we call on the support of all Nigerians and stakeholders.

“The economic impact and gains of the Highway Development Management Initiative value chain and private sector investment estimated at N1.34 trillion for the development and maintenance of the 12 pilot routes are enormous and will benefit all.”
 

Categories: News

Tagged as: ,

Leave a Reply