These are strategic economic road project across the country.
The Federal Government of Nigeria (FGN) has released the proceeds of its first Sukuk bonds to the country’s Ministry of Power, Works and Housing to execute 25 strategic economic projects across the country.
Nigeria’s Minister of Finance, Mrs Kemi Adeosun stated during the ceremony held in Abuja on Thursday, October 6, 2017, that the N100 billion Sukuk were oversubscribed by 5.87%. She stated that it is a sign of confidence in the economy of Nigeria by investors.
“This is the first Sukuk bond issuance for Nigeria. It is about financial inclusion and deepening of our financial markets. The proceeds will be used to further support government capital spending for 2017 – the construction and rehabilitation of 25 key economic roads across the six geo-political zones of the country,” the minister stated.
“The roads will ease commuting, spur economic activities across the country and further close our infrastructural gap.”
The following are the list and locations of the 25 key roads that would be financed by the fund.
South West
1. Reconstruction of Benin-Ofosu-Ore-Ajebandele-Shagamu dual carriageway (Phase 3 and 4).
2. Dualization of Ibadan-Ilorin road (Section 2)
South-South
3. Rehabilitation of Enugu-Port Harcourt road (Section 4).
4. Dualization of Yenagwa road junction- kolo-Otuoke Bayelsa Palm.
5. Dualization of Lokoja-Benin road (Section 2-4)
South East
6. Rehabilitation of Onitsha-Enugu expressway
7. Rehabilitation of Enugu-Port Harcourt road (Section 1-3).
North Central
8. Construction of Loko Oweto Bridge
9. Dualization of Abuja-Lokoja road (Section 1 and 4)
10. Dualization of Suleja –Minna road (Phase 2)
11. Dualization of Lokoja-Benin road (Section 1)
North East
12. Dualization of Kano-Maiduguri road (Section 2-5)
North West
13. Dualization of Kano-Maiduguri road (Section 1)
14. Dualization of Kano-Kastina road (Phase 1)
15. Construction of Kano Western bypass and Kaduna Eastern bypass.