(Ecofin Agency) - In Nigeria, six large firms will finance the construction of new roads, the Global Construction Review indicated this week.  

The new project, part of a public-private partnership initiated by the country’s president Muhammadu Buhari, should help build 19 new roads, of 794 km long in total, in eleven states.

Dangote Industries Limited, Lafarge Africa Plc, Unilever Nigeria Plc, Flour Mills of Nigeria Plc, Nigeria LNG Limited as well as the China Road and Bridge Corporation Nigeria Limited would be the main investors in this project. In return, the government would offer tax incentives.

“This order will allow private sector to use their capital, their knowhow and also their efficiency in terms of delivering roads in time”, Aliko Dangote said this week hailing the government’s decision.  

The road construction program is structured through the 2019 budget of more than $28 billion resolutely focused on the infrastructures sector to reduce Nigeria’s dependency on the oil sector.

Let’s note that in late 2018, Muhammadu Buhari pressured the parliament for an authorization to issue $2.8 billion bond to finance the budget while the country was preparing for the presidential elections of February 2019.

Moutiou Adjibi Nourou