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HomeNewsTinubu, Lagos state Govt hails President of Dangote Groups and HiTech

Tinubu, Lagos state Govt hails President of Dangote Groups and HiTech

#Zulum238Projects #Term2 Focus: Education (54 Projects) Zulum's 5th year in office, consolidating on sterling 4 years of the first tenure. “1,195 Projects and Counting.” Series on 238 projects in the first year of the second tenure of Governor Zulum.

….We have privilage to patner with Federal Government to transformative activities

By Rabiu Sanusi

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President Bola Ahmed Tinubu, Lagos State Governor Babajide Sanwo-Olu, Minister of Works, Engr David Umahi, among others hailed President of the Dangote Industries Limited, Alhaji Aliko Dangote, and HiTech Construction for their roles in the completion of the Oworonshoki-Apapa Expreswway.

Tinubu who represented by Senate President Godswill Akpabio, enthused that the 37 kilometres road, which commenced in 2018 by the former administration and completed in 2024, is a win for all Nigerians.

He explained that the importance of Lagos State to Nigeria makes it very vital and as such must work for the benefit of all.

“Lagos is home to all, I thank Mr Dangote for coming up with this initiative and in partnership with HiTech have delivered the Tenth Wonder of The World.

“I also congratulate the Minister of Works David Umahi for his passionate commitment to structural development across Nigeria.”

Speaking on the condition of the road before December 2018, Mr Dangote stressed that the road “severely hampered the evacuation of goods and restricted access to the markets, paralyzing the shipping and manufacturing industries and disrupting supply chains across the entire economic landscape.

“Before the completion of this road, it used to take two weeks before we get to the port and in about 18 months, we lost over N60bn in demurrage.

“The successful completion of this project is an example of the positive impact that can be achieved when the public sector collaborate with private sector.

“Utilising the visionary framework of Executive Order 007 in Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme, the Dangote Group has been able to mobilise capital for complete refurbishment of the entire 37 kilometres length of Apapa-Isolo-Oworonshoki road and its expansion to 10 lanes.”

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Dangote added that the Group was privileged to partner with the Federal Government in the transformative efforts, reaffirming its commitment to national development and prosperity.

He also stated that it is imperative that the scheme should be revisited to make it more viable for the private sector participants.

“In this case, we have so far recovered only 40 per cent of our investments and the balance is not due until 2027, we consider this project merely as Corporate Social Responsibility.

We believe that a more commercial interest rate recovery should be allowed in view of the high cost of capital in the Nigerian fiscal environment,” he said.

In his remarks, Engr Umahi also commended the Dangote Group for delivering a well-executed project, adding that the quality of the Dangote Cement is a testament to the value seen on the road.

“I was once trapped for 8 hours on my way to the airport and so, I understand how terrible the road was. We are celebrating this project today because it was well done and a display of new technology. It is fully completed with solar-powered streetlights.

“In the same vein, the Third Mainland Bridge wasn’t just another rehabilitation work, a road that has been standing for about 40 years… in an effort to ensure that our bridges last longer, I’m happy to announce that Mr President has approved the ban on excavation of sands 10 kilometres from bridges across Nigeria.”

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