Must read: Unlocking Value From Nigeria’s Road Assets To Finance Infrastructure Expansion
Article on Nigerian roads The Current administration has come in at the most unfortunate time with the price of crude oil at historical lows, thus mounting pressure on already stretched public finances. As such, even when the government of the day earnestly seeks to improve public works, the resources are just not there. Even if it decided to go to the debt market to source financing, they would be at such an expensive rate, that is in the event that it finds willing lenders given the currency situation. With a road network of 200,000km nationwide of which 17% (34,000km) are federal roads, though a great portion of these are not in the very best of motorable conditions. They are however solid assets of the federal government on behalf of the people of Nigeria. Official government statistics put it that federal roads carry 80% of the vehicular traffic. As at 2012, the number of vehicles was estimated at 9mil. From the same ministry of works