The Federal Government has officially flagged off the construction of the 125-kilometer Benin-Asaba superhighway project in Edo State, marking a significant step towards improving infrastructure in the southern region of Nigeria. The road, designed to be a dual-carriageway with solar-powered lighting, is expected to boost economic growth, enhance connectivity, and improve the overall transportation system in the area.
The project was launched by President Bola Tinubu, who was represented at the event by Monday Okpebholo, the Governor of Edo State. The ceremony took place in Benin City, and it highlighted the collaboration between the government and private sector investors in driving infrastructure development across the country.
The Federal Ministry of Finance, in a statement issued on Sunday, confirmed that the project will be fully financed through a public-private partnership (PPP) model by Africa Plus Partners. The project is seen as a vital step in addressing Nigeria’s infrastructure deficit while also showcasing the effectiveness of private sector participation in financing key national projects.
Speaking during the flag-off ceremony, Governor Okpebholo praised the financing model, calling it a landmark development for the state and the country. He emphasized that the project is not only a significant infrastructural advancement but also a testament to the trust and belief that private investors have in the leadership of President Tinubu and the future of the Nigerian economy.
“This is a legacy project. For private investors to risk their capital, it shows belief in the President’s vision and the future of our economy,” Okpebholo said.
The road, which will connect Benin City in Edo State with Asaba in Delta State, is expected to enhance the flow of goods and services between the two major cities. The project will also provide a faster, safer, and more efficient route for travelers, reducing congestion and promoting regional integration.
The Benin-Asaba superhighway is part of the broader efforts by the Nigerian government to improve the country’s infrastructure and attract private sector investment into critical sectors of the economy. The PPP model being used to finance the road has garnered attention as a potential blueprint for future infrastructure projects across the country.
Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, also addressed the crowd during the flag-off ceremony. He described the project as a major milestone in infrastructure financing and noted that it would not rely on direct federal government funding. Instead, it is fully backed by Africa Plus Consortium, a private sector group comprising credible investors.
“This is not reliant on direct federal funding. Africa Plus Consortium, backed by credible investors, has put forward the full capital commitment under the enabling policies of President Bola Tinubu,” Edun said.
He went on to explain that the Benin-Asaba superhighway project is just one example of the federal government’s renewed focus on using strategic partnerships to unlock long-term economic value. The PPP model used for this project, according to Edun, will be replicated across the country in other critical infrastructure projects, fostering growth and development in various sectors.
Edun also emphasized that the federal government’s ongoing efforts under President Tinubu’s administration are focused on building sustainable financial frameworks that prioritize transparency, efficiency, and speed. This approach aims to ensure that projects are delivered on time and meet the highest standards of quality.
“This is just one of many projects that will be delivered week after week, month after month, through sustainable financial frameworks that ensure transparency, efficiency, and speed,” he added.
The minister’s comments highlight the government’s commitment to developing infrastructure without overburdening the public treasury, relying instead on the expertise and capital of private investors. By leveraging the resources of the private sector, the government aims to accelerate the delivery of key infrastructure projects that are critical to national development.
David Umahi, the Minister of Works, also expressed his support for the project, describing it as part of a cashless model for infrastructure development. According to Umahi, this model, which relies on private sector financing rather than direct government expenditure, is not only possible but imminent. He believes that this approach will revolutionize the way infrastructure is developed in Nigeria, paving the way for more efficient and sustainable projects in the future.
“This is a cashless model, which is not only possible but imminent,” Umahi said, stressing the importance of adopting innovative financing models to address the country’s infrastructure challenges.
The Benin-Asaba superhighway is expected to generate significant economic benefits for the region. It will improve transportation efficiency, reduce travel times, and lower the cost of goods and services. The road will also support job creation, both directly through construction-related activities and indirectly by boosting local businesses along the route.
The project’s completion is expected to drive increased trade and commerce between the South-Eastern and southern parts of Nigeria, which are critical economic hubs. The enhanced connectivity will open up new opportunities for businesses and investors, contributing to the overall growth of the Nigerian economy.
The successful financing of the Benin-Asaba superhighway is also expected to encourage further private sector involvement in the country’s infrastructure development. With the support of credible investors, the project serves as a model for how public-private partnerships can be leveraged to build critical infrastructure without placing excessive strain on the government’s finances.
The road’s solar-powered lighting system is another innovative aspect of the project. It reflects the government’s commitment to adopting sustainable energy solutions in infrastructure projects, ensuring that the highway is both environmentally friendly and cost-effective in the long run.
The Benin-Asaba superhighway is a key part of Nigeria’s broader infrastructure development strategy, which aims to modernize the country’s transport network and improve regional integration. As the project progresses, it is expected to serve as a catalyst for further investment in Nigeria’s infrastructure, particularly in sectors such as energy, transportation, and housing.
