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Apr
23
2024
Those Criticizing the Ongoing Lagos- Calabar Coastal Highway Project Being  Done by  The Renewed Hope Administration Of President Asiwaju Bola Ahmed Tinubu  Either Have Little Knowledge of the Concept of EPC+F On Project Financing Or  Are Deliberately Sacrificing The Cause Of  Development  At The Altar Of Politics

Those Criticizing the Ongoing Lagos- Calabar Coastal Highway Project Being  Done by  The Renewed Hope Administration Of President Asiwaju Bola Ahmed Tinubu  Either Have Little Knowledge of the Concept of EPC+F On Project Financing Or  Are Deliberately Sacrificing The Cause Of  Development  At The Altar Of Politics

The trending posts of   criticisms by some notable  politicians on the propriety and priority of the Lagos-Calabar coastal highway project being executed  by the Renewed  Hope administration  of His Excellency President Asiwaju Bola Ahmed Tinubu GCFR are no doubt baseless thoughts of critics who are either bereft of the knowledge of the workings of the project  initiative or they deliberately  want to sacrifice the modest developmental efforts  of Mr. President  at the altar of  their political ambitions. It is unthinkable  that such highly  placed people fail to understand  the various  elucidations provided  by the Honourable Minister  of Works,  His Excellency,  Sen Engr Nweze David Umahi CON  on when the project  was conceptualized, the various  administrations that attempted   but failed to carry out the project, the economic  and technical  considerations that gave rise to the commencement  of the project under the Renewed Hope administration, the funding  and procurement details  and indeed the dimensions, importance, priority and propriety of the projects  in the national developmental trajectory.

For the avoidance  of doubt,  the Lagos- Calabar coastal highway  project is being done under EPC +F. What does this type of funding  entail? This is a project financing mechanism in which EPC+F contractors also arrange financing for the project. EPC+F is Engineering, Procurement  and Construction plus Financing. Engineering  here includes design and specification. This initiative provides  a fixed  price, fixed date, and transfers risks to the contractor. This type of funding requires only a counter- part funding  from the Federal Government. Such funds  are sourced  by contractors where they have confidence  in the  economic policies of government, which essentially entails  allowing  the participation of the private  sector  in the road infrastructure  development through  PPP or EPC+F.  

In the recent  Inauguration  of the Committee  on Compensation  of owners of properties that will be affected  by section 1 of the Lagos- Calabar Coastal Highway, the Honourable Minister emphasized the nature of the project funding  and the workings of EPC + F when he said, "And graciously, Mr. President had approved that this section three will start from Calabar, which is the end point of the project, and start running towards Akwa Ibom. So, the 700 km is procured  under phase one, in phases, and it's EPC +F. EPC+F is engineering, procurement, construction, and finance. And so, under this kind of arrangement, the contractor is expected to bring in a certain amount of money, and Federal Government is expected to pay certain counterpart funding."

No patriotic  Nigerian  should discourage  this kind of project  where funding is substantially  from the contractor. There is no doubt  that Mr. President  is aggressively  tackling  the backlogs  of uncompleted  road projects. In the 2023  Supplementary Budget,  Mr. President  approved funds for intervention on the over 260 dilapidated roads nationwide.  The 2024 appropriation  made provision for capital  investment  on our critical  roads across  the 6 Geo- political  zones of Nigeria. The Honourable Minister  has already  made a great difference  in the road infrastructure development  roadmap of this administration through his new innovations on road construction  and rehabilitation, his power of supervision, and his contract negotiation power which  is second  to none in the history  of the Federal Ministry of Works. He has been touring around and supervising   the various  ongoing  projects  of the  federal government, and the difference  is already  there. The people  are testifying of the quality  and speed of road projects being  executed by the Renewed Hope administration. He has proven track records on road  infrastructure development.  He is not into rhetorics like many politicians who talk high but can do only less. The administration of President  Tinubu  is doing roads that will stand the test of time. The  roads he is fixing  will  facilitate economic  recovery.  The patriotic  Nigerians are already  applauding  the good efforts of Mr. Presidentt, but professional  politicians  are busy criticizing  a landmark  project  that will launch Nigeria into the league  of the best economies of the continent. 

On the importance  of the Lagos-Calabar coastal highway project  to the economy  of the  nation, it is clear that the coastal highway, when completed, will foster national economic growth. Notably,
 all roads in the country are  important as reflected by the interventions of this administration on road rehabilitation across the nation, but the coastal highway offers much more economic benefits to the nation because  of its connectivity  to the North  and South through  the existing spurs. The road, when completed, has the potential to increase Nigeria’s GDP and trigger industrialisation, create trade, enhance the  transportation  of goods and services, and  safety of road users.The road is going to be the biggest super highway in Africa in terms of the structure and solidity as we all as utility value, having ten lanes with a rail track designed for concrete technology, covering 700 kilometers. It is going to attract foreign direct  investment to Nigeria, and it is going to trigger economic development. It is going to develop the potential of our coastal businesses, especially  at the local economic corridors, and boost tourism and marine businesses. 

PHOTO NEWS

Mar
07
2024

HONOURABLE MINISTER OF WORKS, HIS EXCELLENCY SEN. ENGR. NWEZE DAVID UMAHI, CON, WITH OTHER DIGNITARIES DURING THE OFFICIAL HANDOVER OF THE FIRST PHASE OF THE PROJECT, MADE UP OF 47.47 KILOMETERS DUAL CARRIAGEWAY, TO HITECH CONSTRUCTION COMPANY LTD

Honourable Minister of Works, His Excellency Sen. Engr. Nweze David Umahi, CON, with other dignitaries during the official handover of the first phase of the project, made up of 47.47 kilometers dual carriageway, to Hitech Construction Company Ltd

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PHOTO NEWS

Feb
23
2024

HONOURABLE MINISTER OF WORKS, HIS EXCELLENCY, SEN. ENGR. NWEZE DAVID UMAHI CON FINALIZING DISCUSSIONS WITH INVESTORS FROM NETHERLANDS TO ATTRACT A GRANT OF 25 MILLION EUROS FOR THE CONSTRUCTION OF PRIORITY BRIDGES IN NIGERIA.

Honourable Minister of Works, His Excellency, Sen. Engr. Nweze David Umahi CON finalizing discussions with investors from Netherlands to attract a grant of 25 million Euros for the construction of priority bridges in Nigeria.

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