The Nigeria Government has been awarded the ‘Africa Road Builders-Trophee Babacar Ndiaye’ 2021 awards, in recognition of its efforts towards promoting infrastructure projects across the country.
Speaking during the Trophee Babacar Ndiaye inaugural conference in Abuja on Thursday, President Muhammadu Buhari noted that road infrastructure remains one of the most critical aspects of national development capable of unlocking socio-economic benefits for the Nigerian citizens.
According to the president, who was represented by the Minister of Works and Housing, Babatunde Fashola, Nigeria remains committed to the trans-African highway program which aims to connect the African continent through a major system of nine highways, covering a distance of 56,683 kilometers.
“I am delighted to report that our policies and programs that have been made over the years are beginning to bear fruit and results.
“Very evidently, infrastructure investment is good for the economy. By building Roads, we are building economies.
According to him, infrastructural projects have been a major boost for the growth of the Nigerian economy, as well as driving a supply value chain, stimulating productivity at quarries, factories and the petroleum sectors for lubricants, fuel and bitumen.
He said, “Our collaboration with the African Development Bank has been productive and results are now manifest in projects like the Mfum-Bamenda Bridge that connects Nigeria and the Republic of Cameroon.
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“I also acknowledge the support of the Bank in financing feasibilities, consultancies and pre-construction work on the Lagos-Abidjan Corridor comprising Nigeria, the Republic of Benin, Togo, Ghana and Cote d’Ivoire which is part of Trans African Highway No. 7 from Dakar in Senegal to Lagos in Nigeria.
He further explained that apart from the trans-African highway connections, the government is focused on rebuilding, expanding and replacing strategic highways and bridges across our country.
According to him, the Apapa-Oworonshoki Highway in Lagos is strategic for trade and business facilitation to support Apapa sea port and Tin Can Island.
He also noted that the Suleja-Minna Highway is critical to the nation’s petroleum distribution network and access to strategic petroleum products depot in Niger State, while the Calabar-Itu-Odukpani unlocks access to agricultural produce and supports mining and extractive activities for construction, in the South South and South East of Nigeria.
He said, “these are only examples of over 13,000Km of Road and Bridge construction, expansion and rehabilitation nationwide.
“Our most recent GDP results of 3.40 percent, the biggest in the last 7 years clearly show that the construction sub-sectors and related sub-sectors of the economy were among the big performers of the growth surge.”
In his remark, the representative of the Department of infrastructure, African Development Bank, Mike Salawou noted that the importance of road infrastructure cannot be overemphasized, stressing that it is an enabler of economic development.
According to him, despite efforts of the African leaders in financing infrastructure projects, the continent is still far away from meeting its infrastructural needs.
“Africa is still far away from meeting its infrastructural needs. The continent requires over $130 billion to meet the existing gap.
“Financing infrastructure is key to the development of any nation, but with government revenue, there is a need to partner with relevant stakeholders.
Salawou stressed on the need for governments to prioritise infrastructure projects in order to deliver value to citizens.
Also speaking at the event, the Group Managing Director of Nigerian National Petroleum Company Limited, Mele Kyari, said that in order to address the plight faced by petroleum product marketers in transportation which affects nationwide distribution, NNPC keyed into the Federal Government Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme.
He explained that under the scheme, NNPC is providing funding to the tune of Six Hundred and Twenty-One Billion Naira (N621Billion) for the rehabilitation of 1,804.6 Km of identified Federal roads.
“The roads which are also critical to NNPC’s operations are spread across fifteen States in the Country.
“In line with the provision, the Federal Inland Revenue Service will issue Tax credits to NNPC which will be equivalent to the amount spent by NNPC on the road projects.
“The benefits of NNPC’s participation in the scheme include sustaining energy security through efficient distribution of petroleum products across the country and also improving other economic activities that are dependent on road transportation and social benefits,” he said.
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