Nigeria, South Africa, Road infrastructure

Mr Hulisani Makhuvha, of the Development Bank of Southern Africa (DBSA), has said that the bank would collaborate with the Government of Nigeria to build road infrastructure in the country.

He said this while speaking with newsmen on Monday in Abuja on the sideline of a conference of Nigeria-South Africa Intergraded Road Transport Infrastructure Initiative.

News Agency of Nigeria (NAN) reports that the event was to launch a road infrastructure programme for the West African region and ultimately integrate the African continent.

ALSO READ: Nigeria created 450,000 new jobs in 2018 ― World Bank

The event is a collaborative initiative between the DBSA and Infrastructure Concession Regulatory Commission (ICRC) on how to fashion a transport and logistics infrastructure agenda for the West African region.

DBSA, established to accelerate sustainable socio-economic development and improve the quality of life of the people in South Africa, is a development finance institution wholly owned by the South African Government.

Makhuvha noted that because Nigeria and South Africa were the biggest economies on the Africa continent, there was need for both countries to increase their collaboration and work together to build road network on the continent.

“We are going to look at possible ways of collaborating within the Public-Private Partnership (PPP) space, working with ICRC and the Nigerian government.

“We will look at opportunities and how we can collaborate with the Nigerian government; our mandate is driven primarily by how much is required to build roads basically.

“So we cannot say upfront that we are coming with investment, we need to first understand and access what projects are out there in the country and how we can participate,“ he said.

Makhuvha added that this would, however, be guided as the bank continued with the engagements on the way forward.

Earlier, Mr Chidi Izuwah, Managing Director ICRC, said the importance of a good road network in the development of ever economy could not be underscored. Izuwah said road does not only connect and integrates but facilitates supply chains and enhances a nations competitiveness index.

ALSO READ: FG to galvanise mining sector with downstream mineral value chain initiative

“Road has a transformational effect primary to technology or any other contemporary development programme.

“Road creates jobs and catalyses factors of production, road appreciates land value capture for funding infrastructure,“ he said

He expressed optimism that participants who were drawn from some African countries would learn from history, not just case studies of success stories but challenged successes.

This, Izuwah added would teach participants how not to structure bad projects, saying that ICRC had made some significant contributions to the delivery of PPP in the country.

He further added that the event and others to come were indicative of ICRC`s drive to collaborate with the rest of Africa to make PPP delivery an integrative process. He told participants that ICRC had hosted a PPP project screening roundtable sponsored by AfreximBank to build first-mover project pipeline for their project preparation.

“Am happy to announce to you that ICRC has been appointed by AfreximBank as the clearinghouse in Nigeria for all prospective federal and sub-national PPP projects that may require project development funding.

“At the same event ICRC has screened 11 PPP projects valued at over $10 billion out of over 30 across federal and sub-national MDAs, “Izuwah said.

NAN further reports that the event was organised by ICRC in partnership with Federal Road Maintenance Agency (FERMA).

Vanguard News


Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.