The Federal Government on Tuesday launched the commencement of toll operations on the 227.2km Abuja-Akwanga-Lafia-Makurdi Road corridor to repay the loan obtained from the China Exim Bank to rehabilitate and upgrade the road.
The Minister of Works, David Umahi, officially launched the road.
Cars would pay N500 on each of the four tollgates, SUVs would.oay N800, busses N1,000 and trucks N1,600.
Umahi, who was represented by the Minister of State for Works, Bello Goronyo, reiterated the government’s commitment to ensuring that Nigeria’s federal roads are properly maintained through sustainable funding mechanisms.
The Abuja-Akwanga-Lafia-Makurdi Road was rehabilitated and upgraded through a preferential credit loan from the China Exim Bank. The last administration secured a $460.8 million loan from China Exim Bank, covering 85% of the project’s $542 million total cost.
As part of the loan agreement, the Federal Government committed to tolling the road upon completion, with revenue collected from operations to be used preferentially for the loan repayment.
“It is with great pride and optimism that I stand before you today on behalf of the Federal Government of Nigeria as we officially launch the commencement of toll operations on our federal roads, beginning with the 227.2km Abuja-Akwanga-Lafia-Makurdi Road corridor,” Umahi stated.
He added, “It is to be recalled that the Federal Government of Nigeria rehabilitated and upgraded the road through the preferential credit loan from the China Exim Bank. The loan agreement provided among other things, that upon completion, the road would be tolled, operated, and maintained by a private party and that revenue collected from the operation shall be preferentially used for the loan repayment to the China Exim Bank.”
According to the Minister, the Ministry of Works, under the previous administration in 2023, executed a 25-year Operate and Maintain concession agreement with Messrs China Harbour Operations and Maintenance Company Limited in partnership with Messrs Catamaran Nigeria Limited.
Source: Nairametrics
