EDUN, UMAHI FLAG-OFF BENIN-ASABA EXPRESSWAY .... A LANDMARK IN PRIVATELY-FINANCED INFRASTRUCTURE DEVELOPMENT, SAYS FINANCE MINISTER

"This model will be replicated nationwide, saying "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." Edun.

"The Benin–Asaba Expressway Project, is more than a road. It is an ambitious, dual-carriage, solar-lit superhighway that is fully financed by the private sector under a Public-Private Partnership (PPP) model." Umahi.

The construction of the 125km Benin–Asaba Expressway Project in Edo State, described as a significant milestone in the country's infrastructure development and a testament to the power of private sector partnership, has been flagged-off.

The groundbreaking ceremony, a collaboration between the Federal Government of Nigeria and Africa Plus Partners, was today flagged off at the project site in Benin-City, the Edo State Capital.

The ceremony was performed by the Governor of Edo State, Senator Monday Okpebholo, representing President Bola Ahmed Tinubu. 

He lauded the financing structure, noting that,"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."

Dignitaries at the event included the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, as well as his counterpart from the Ministry of Works, Senator David Umahi.

Speaking at the ceremony, Wale Edun described the project as a milestone in infrastructure financing. "What you see on the front page of the pamphlet will be delivered, because the cash is there. 

"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 affirmed.

He added that the flagship initiative is part of President Bola Ahmed Tinubu administration’s Renewed Hope Agenda, demonstrating how strategic partnerships can unlock long-term value for the economy. 

The Minister of Finance reiterated that this model will be replicated nationwide, saying "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."

Also speaking, the Minister of Works, Senator David Umahi, described the project as a cashless model, which is not only possible but imminent

"The Benin–Asaba Expressway Project, is more than a road. It is an ambitious, dual-carriage, solar-lit superhighway that is fully financed by the private sector under a Public-Private Partnership (PPP) model.

"The Benin-Asaba Expressway is a statement; that with innovative financing and investor confidence, world-class infrastructure is not only possible but imminent."

"As the Benin-Asaba Expressway project takes shape, it is clear that this is just the beginning of a new era in Nigeria's infrastructure development. With innovative financing models, strategic partnerships, and a commitment to transparency and efficiency, the future of Nigeria's infrastructure has never looked."

This is contained in a statement issued and signed by Mohammed Manga, Director, Information and Public Relations in the Federal Ministry of Finance which was made available to Naij News Alert in Abuja on Sunday.