ABUJA: The Federal government in partnership with the Exim Bank of China is targeting a toll collection of N814.08billion on the Abuja-Lafia-Keffi-Makurdi Highway to repay the $542million loan for the construction of the road.
…says completed Roads under the EPC+F will be tolled, projects ongoingJohn AlechenuABUJA: The Federal government in partnership with the Exim Bank of China is targeting a toll collection of N814.08billion on the Abuja-Lafia-Keffi-Makurdi Highway to repay the $542million loan for the construction of the road.’We aren’t just a band of blind musicians; we have journalists, teachers and computer…0:00 / 1:00This amount was calculated using the prevailing official exchange rate of N1,502 =$1 USD).The contract which was executed using the EPC+F a financing model where Engineering, Procurement, and Construction (EPC) services are combined with financing (the “+F” part).This model allows for the provision of financing solutions, such as export loans and credit insurance, to support the project’s implementation.In the context of the Nigeria-China Exim bank loan for roads, the EPC+F model is used to finance the construction of several roads the total number which was not readily available as at the time of filing this report.The Keffi-Abuja-Makurdi Expressway is one of such projects which involves the expansion and dualization of the existing carriageway and has been used to flag off the exercise.
Umahi said, “Before we toll any road we would have 100 percent completed the road, but where we have done roads, completed, maybe in the past 10 years and it is failing and we are still working in some sections, we reach an agreement with the stakeholders because one of the key problems of our roads is lack of maintenance.
Search for:SearchHomeNewsE-EditionsPoliticsMetroBusinessSportsEditorialColumnsAllureNewsFebruary 15, 2025Tolls: FG targets N814.08bn from Abuja-Lafia-Keffi-Makurdi HighwayAbuja-Lafia-Keffi-Makurdi Highway…says completed Roads under the EPC+F will be tolled, projects ongoingJohn AlechenuABUJA: The Federal government in partnership with the Exim Bank of China is targeting a toll collection of N814.08billion on the Abuja-Lafia-Keffi-Makurdi Highway to repay the $542million loan for the construction of the road.We had no N5m bribe for SARS, so i spent 10 Years in jail0:00 / 1:00This amount was calculated using the prevailing official exchange rate of N1,502 =$1 USD).The contract which was executed using the EPC+F a financing model where Engineering, Procurement, and Construction (EPC) services are combined with financing (the “+F” part).This model allows for the provision of financing solutions, such as export loans and credit insurance, to support the project’s implementation.In the context of the Nigeria-China Exim bank loan for roads, the EPC+F model is used to finance the construction of several roads the total number which was not readily available as at the time of filing this report.The Keffi-Abuja-Makurdi Expressway is one of such projects which involves the expansion and dualization of the existing carriageway and has been used to flag off the exercise.The project is valued at $542 million, with the China Exim bank providing 85 percent of the funding and the Nigerian government contributing 15 percent.The minister of works, Engr. David Umahi while inspecting the Kaduna section of the Abuja-Kaduna-Kano carriageway which is currently under construction and is expected to come on stream by March, explained that only completed roads within the geopolitical zones that fall to the economic corridors will be tolled.Umahi said, “Before we toll any road we would have 100 percent completed the road, but where we have done roads, completed, maybe in the past 10 years and it is failing and we are still working in some sections, we reach an agreement with the stakeholders because one of the key problems of our roads is lack of maintenance.Related NewsBenue to complement FG’s dualization of 250km Makurdi-Enugu highway – Gov AliaFG to toll more roads – UmahiUmahi gives contractor 14-day ultimatum over Abuja-Keffi section“We have to involve the private sector in this maintenance. So if you have a road that is 200 kilometers and you have concluded maybe 150, we can discuss with the public, because if we leave that 150 without maintenance, then the problem is that it can go bad”.He further said, “for now, we are not tollijg any road we have not completed.”Recall, the Federal government announced a plan to build toll gates on only 5,050 kilometers of dual carriageways it owns out of the 35,000 kilometers of federal roads nationwide.This decision was taken after the Federal Executive Council approved the reintroduction of toll gates on federal highways as far back as 2021.
…says completed Roads under the EPC+F will be tolled, projects ongoingJohn AlechenuABUJA: The Federal government in partnership with the Exim Bank of China is targeting a toll collection of N814.08billion on the Abuja-Lafia-Keffi-Makurdi Highway to repay the $542million loan for the construction of the road.
We had no N5m bribe for SARS, so i spent 10 Years in jail0:00 / 1:00This amount was calculated using the prevailing official exchange rate of N1,502 =$1 USD).The contract which was executed using the EPC+F a financing model where Engineering, Procurement, and Construction (EPC) services are combined with financing (the “+F” part).This model allows for the provision of financing solutions, such as export loans and credit insurance, to support the project’s implementation.In the context of the Nigeria-China Exim bank loan for roads, the EPC+F model is used to finance the construction of several roads the total number which was not readily available as at the time of filing this report.
The Keffi-Abuja-Makurdi Expressway is one of such projects which involves the expansion and dualization of the existing carriageway and has been used to flag off the exercise.The project is valued at $542 million, with the China Exim bank providing 85 percent of the funding and the Nigerian government contributing 15 percent.The minister of works, Engr. David Umahi while inspecting the Kaduna section of the Abuja-Kaduna-Kano carriageway which is currently under construction and is expected to come on stream by March, explained that only completed roads within the geopolitical zones that fall to the economic corridors will be tolled.Umahi said, “Before we toll any road we would have 100 percent completed the road, but where we have done roads, completed, maybe in the past 10 years and it is failing and we are still working in some sections, we reach an agreement with the stakeholders because one of the key problems of our roads is lack of maintenance.Related NewsBenue to complement FG’s dualization of 250km Makurdi-Enugu highway – Gov AliaFG to toll more roads – UmahiUmahi gives contractor 14-day ultimatum over Abuja-Keffi section“We have to involve the private sector in this maintenance.
So if you have a road that is 200 kilometers and you have concluded maybe 150, we can discuss with the public, because if we leave that 150 without maintenance, then the problem is that it can go bad”.He further said, “for now, we are not tollijg any road we have not completed.”Recall, the Federal government announced a plan to build toll gates on only 5,050 kilometers of dual carriageways it owns out of the 35,000 kilometers of federal roads nationwide.
This decision was taken after the Federal Executive Council approved the reintroduction of toll gates on federal highways as far back as 2021.The toll gates are expected to also generate revenue for road maintenance and repayment of investors who have invested in building or completing roads under the Highway Development Management Initiative.
Special Adviser (Media) to the Minister of Works, Barr Orji Uchenna Orji, told Sunday Vanguard in a telephone interview that, “Sections of the Keffi-Akwanha-Makurdi road was done on EPC+F and funded up to 85 percent by the China Exim Bank and the Federal Government paid 15 percent counterpart funding.“And the job was executed satisfactorily by the China Harbour Ltd. Part of the agreement is that they will toll the road and then recoup the money for the Federal Government to pay back the loan segment of the project. “He also explained that the decision on roads to toll was an ongoing process.Orji said, “The issue of tolling is ongoing. There are several ongoing projects and as we speak, we are with the minister in Benue State inspecting some of these projects.
“I cannot tell you you off the cuff which one is next and how many, I’ll have to consult officers in charge and documents.”
