Reconstruction officially started in Benin for the 125km Benin-Asaba expressway which is being financed under a public-private partnership by Nigeria’s infrastructure investor Africa Plus Partners.
The project is one of the first under HDMI Phase 1. HDMI - Highway Development and Management Initiative - is a PPP infrastructure development programme of the federal ministry of works. It aims to bring private sector participation into development and improvement of 35,000km of federal highways across Nigeria. The goal is to encourage operational efficiency, responsibility and profitability for all stakeholders.
Another major project under HDMI is the Lagos-Otta-Abeokuta Expressway. Both it and the Benin-Asaba Expressway are operated under a 25-year concession.
It was in February last year that the Edo state government signed an equity partnership with Africa Plus Partners for reconstruction of the Benin-Asaba Expressway. The highway is a vital link connecting the southwest, south and southeast regions of Nigeria.
Africa Plus Partners Nigeria is a specialist asset management company focused on infrastructure fund management in Nigeria and sub-Saharan Africa.
