470-Km Abuja-Lagos Superhighway to gulp $5bn – Contractors

The proposed 470-km Abuja-Lagos superhighway is set to cost $5 billion, according to the contractors involved in the project. The Minister of Works, David Umahi, confirmed that the private sector consortium leading the project will cover the cost, with the government's support.

The project is expected to be completed within four years, marking a significant infrastructure development in Nigeria. The chairman of AEC Unity Network Limited, Kenny Martins, highlighted the progress made in the preliminary aspects of the project, including design studies and approvals.

The superhighway aims to reduce travel time between Lagos and Abuja to four hours, providing a more convenient and efficient alternative for commuters. The project has received necessary approvals, including an environmental impact assessment, and is poised to begin construction pending final approvals from regulatory bodies.

Financing for the project is being lined up by potential financiers, with a focus on addressing the infrastructure gap in Nigeria. The next phase of the project will involve approvals from the Infrastructure Concession.