FG flags off Benin-Asaba road project, says it’s private sector funded

The ministry of finance says the federal government has officially flagged off the 125-kilometre (km) Benin-Asaba superhighway project in Edo state.

In a statement on Sunday, Mohammed Manga, the ministry’s director-general of information and public relations, said the dual-carriageway, solar-lit road, is expected to drive economic growth and connectivity in the region.

He said the project is fully financed by Africa Plus Partners under a public-private partnership (PPP) model.

Speaking during the flag-off ceremony in Benin City, President Bola Tinubu, represented by Monday Okpebholo, governor of Edo state, lauded the project’s financing structure.

“This is a legacy project. For private investors to risk their capital, it shows belief in the President’s vision and the future of our economy,” he said.

On his part, Wale Edun, minister of finance and coordinating minister of the economy, described the project as a milestone in infrastructure financing.

“This is not reliant on direct federal funding. Africa Plus Consortium, backed by credible investors, has put forward the full capital commitment under the enabling policies of President Bola Tinubu,” the minister said.

Edun said the flagship initiative is part of the federal government’s renewed hope agenda, demonstrating how strategic partnerships can unlock long-term value for the economy.

Edun reiterated that the PPP model will be replicated nationwide.

“This is just one of many projects that will be delivered week after week, month after month, through sustainable financial frameworks that ensure transparency, efficiency, and speed,” he added.

Also speaking, David Umahi, minister of works, described the project as a cashless model, which “is not only possible but imminent”.