Business
Investors Are Seeking To Refund And Toll President Tinubu’s Legacy Projects – Umahi
Published
3 months agoon
By
Preport
The Federal Ministry of Works witnessed another major milestone on Wednesday and Thursday, May 13 and 14, as the Federal Government signed Memoranda of Understanding and contract agreements for eight major road projects across the country.
The signing ceremony, which took place at the Ministry’s Headquarters in Mabushi, Abuja, brought together government officials, contractors and stakeholders in what was described as another bold step in President Bola Ahmed Tinubu’s drive to modernize Nigeria’s road infrastructure and strengthen the economy through strategic investments.
This was made known by Francis Nwaze, FIPMD
Senior Special Assistant to the Honourable Minister of Works (Media) .
Speaking during the ceremony, the Minister of Works, Senator Engr. David Umahi, CON, described the projects as part of the growing legacy of President Tinubu’s administration.
“Today is another event that adds to the great work that President Bola Tinubu is doing,” Umahi said.
The Minister revealed that the Federal Government has already procured the first 123 kilometres single carriageway of the Calabar-Ebonyi-Abuja Super Highway, stretching from Calabar through Ebonyi State to the Benue border. According to him, the newly signed section covers another 173 kilometres through Benue, Kogi and Nasarawa States, ending at the Oweto Bridge.
He further disclosed that government would soon procure the second carriageway of about 300 kilometres from Ndibe Beach to Oweto in Nasarawa State.
Umahi said the project would significantly reduce travel time between the South East and Abuja while boosting economic activities in the region.
“I want to say this without any apology the SouthEast People will reciprocate what the President has done for the people. What happened in 2023 was an accident of history and in 2027, we will show our appreciation,” he stated.
“I was a governor, I was a deputy governor and we never witnessed federal government projects in SouthEast but today, we may not be the first, or the second or the third but definitely, we are not the last.”
“So, we are very proud of what the president is doing in the entire SouthEast and I pledge on behalf of the entire SouthEast that we are going to reciprocate because with this project, any part of the SouthEast you are, you will be in Abuja in 3 to 4 hours. And this is a plus to our commercial activities.”
The Minister noted that five companies competed for the project before Infouest emerged successful, adding that the same transparent procurement process was adopted for the Sokoto-Badagry Super Highway project.
Umahi also spoke on the progress of the Lagos-Calabar Coastal Highway, saying the project had moved from skepticism to national admiration.
“When we started the coastal highway, 750km, people did not believe that it would be a reality. And some that knew that it would be a reality, out of envy and jealousy, started to criticize the project,” he said.
“But today, the entire country is waving their flags for President Bola Tinubu because that project is a beauty to behold. It is an economic catalyst for the nation, Nigeria.”
According to him, by November, motorists will be able to travel from Ahmadu Bello Way in Lagos through Sections One, Two and part of Section Four to Ondo State on completed portions of the road.
He added that Sections 3A and 3B in Cross River and Akwa Ibom States are ongoing, while Section Five covering 165.6 kilometres has also commenced.
Describing the coastal highway as more than a road project, Umahi said it was a long-term national investment designed to last for decades.
“This is not just a road project. I have always said that this is an investment that the President is doing, and this is a road that is going to last for another hundred years with no maintenance,” he said.
He commended HITEC Construction Company for what he described as speed, capacity and commitment to delivery, noting that the company has built a reputation for constructing up to one kilometre of road per day.
Umahi also explained that the cost of the projects include extensive drainage systems, reinforced pavement, concrete works and other durable engineering components.
“And for those who are asking us about cost per kilometer, we will be talking now at an average cost per kilometer, which is about N7.5b for a standard carriageway,” he explained.
“But this one is even with a lot of road architecture. You see the concrete poles, the drainage, the culverts, the reinforcement, the pavement. So it is not just a road. This is an investment.”
The Minister further revealed that investors are already showing strong interest in the completed sections of the Lagos-Calabar Coastal Highway.
“Just like in section one that we finished in Lagos, a lot of investors are begging to be given that section for them to toll and then give back our money even before they start tolling,” Umahi disclosed.
“So it is an investment, and it is only a person like President Bola Tinubu that can do this.”
On the Sokoto-Badagry Super Highway, Umahi said Section IV covering the Oyo axis spans 360 kilometres, explaining that the project demonstrates government’s determination to spread development across all geopolitical zones.
“The President is President for the entire country. His four legacy projects are dotted throughout the six geopolitical zones,” he said.
He also highlighted progress on the Akwanga-Jos-Bauchi-Gombe-Biu-Maiduguri Road project, explaining that President Tinubu insisted on changing the original asphalt design to concrete pavement to guarantee durability.
“The President said, ‘No, we want to do concrete road so that when we build it, it will last for a hundred years,’” Umahi stated.
The Minister said the Federal Government would provide 30 percent counterpart funding for the projects, while 70 percent would be sourced through loans. He added that tolling and strategic land acquisition along the roads would ensure long-term returns on investment.
“We neither review timing nor rates. The moment we sign, as we have signed now, that is the end of the matter,”.
The four major legacy project sections signed include:
1. Calabar-Ebonyi-Abuja Superhighway, Section II: Ebonyi State Border – Benue – Kogi – Nasarawa States
2. Sokoto-Badagry Superhighway, Section IV: Oyo State
3. Lagos-Calabar Coastal Highway, Section V: Akwa Ibom State
4. Dualisation of Akwanga-Jos-Bauchi-Gombe-Biu-Maiduguri Road, Section II: Gombe – Biu
Other projects signed on Thursday, May 14, include:
1. Reconstruction of Mando (Kaduna) – Birnin Gwari Road in Kaduna State by Messrs J. Patel and Sons Nigeria Limited
2. Dualisation of Ibadan–Ijebu Ode Road in Oyo and Ogun States by Messrs JRB Construction Company Limited
3. Construction of Osogbo–Ikirun–Akoda Road in Osun State by Messrs Truecrete Solutions Limited
4. Construction of Osogbo–Iwo–Ibadan Road in Osun and Oyo States by Messrs Peculiar Ultimate Concerns Limited
Earlier in his remarks, the Permanent Secretary of the Ministry, Mr. Rafiu Olarinre Adeladan, described the signing ceremony as the successful conclusion of the procurement process and the formal commencement of project implementation.
Responding on behalf of the contractors, the Chief Executive Officer of HITEC Construction Company, Dany Abboud, assured the Federal Government of timely delivery and quality execution.
“Our commitment is always on the table. We are committed to delivering those jobs before the thirty-six months that were awarded.
“We commit to delivering a standard even better than what we have done on Coastal Highway Section One.” Abboud said.
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Business
COP17: Africa must connect science to action to tackle land degradation — Expert
Published
5 hours agoon
August 25, 2026By
Preport
In this interview with PREMIUM TIMES on the sidelines of COP17 in Ulaanbaatar, Mongolia, Oluseyi Ifatimehin, a Professor of Geography (Environmental Resource Planning) at Kogi State University, Nigeria, and Science and Technology Correspondent to the United Nations Convention to Combat Desertification (UNCCD), outlines the scientific and institutional gaps confronting Nigeria and other African countries and proposes stronger land and drought observatories, artificial intelligence, satellite technology, indigenous knowledge and improved science-policy mechanisms to tackle the challenges.
Excerpt:
PT: What are the biggest scientific gaps preventing Nigeria and other African countries from effectively addressing land degradation and drought?
Ifatimehin: From my perspective, Africa does not primarily suffer from a lack of scientific knowledge. The bigger problems are gaps in data continuity, local-scale evidence, technology deployment and the capacity to translate evidence into decisions. For Nigeria, one major gap is the lack of sufficiently dense, continuous and interoperable datasets on soil health, land degradation, groundwater, vegetation, drought indicators and land-use change. Satellite data are increasingly available, but they need to be combined with reliable ground observations to produce information that is useful at the farm, watershed and community scales.
A second gap is predictive capacity. We need to move from asking, “Where has degradation or drought occurred?” to ask, “Where is it likely to occur next, when will it happen, how severe will it be, and what should farmers and governments do now?”
A third gap is the shortage of sustained investment in African scientific institutions, laboratories, field-monitoring networks, data infrastructure and technical personnel. Nigeria’s priority should therefore be to establish stronger national and regional land and drought observatories, integrate satellite and ground data, strengthen universities and research institutions, and develop indicators that measure outcomes. These could include hectares of degraded land restored, changes in soil organic carbon, vegetation recovery, water availability and the number of farmers receiving actionable early warnings.
PT: Why is there a disconnect between research institutions and policymakers, and how can COP17 help close that gap?
Ifatimehin: The disconnect is partly because research and policymaking often operate on different timelines and communicate in different languages. Researchers may produce excellent scientific papers, but policymakers need concise answers to practical questions: What is the problem? What will it cost? What intervention works? Where should it be implemented? What result can we expect within three or five years? There is also insufficient institutional linkage between universities, government ministries, agencies and communities. Research funding is frequently project-based, while policy implementation requires long-term evidence and monitoring. COP17 can help by strengthening the UNCCD Science-Policy Interface (SPI) and encouraging countries to establish stronger national science-policy mechanisms. Universities should not be viewed simply as institutions that produce publications; they should become knowledge partners in national land-restoration programmes.
In line with this, proposals from two Nigerian universities — the Federal University Lokoja (FUL) and Confluence University of Science and Technology (CUSTECH), Osara — were presented at the COP17 side events.
FUL presented two proposals: ECO-HUB for Land Restoration Technical Education, focused on ecopreneurship, restored land, resilient food systems and shared prosperity; and Building a University-led Knowledge Curriculum and Research Platforms for Sustainable Rangeland Resource Governance, Livestock Reform and Peace-building for Nigeria’s Sub-humid and Humid Ecological Zones.
CUSTECH presented Measuring Nature, Building Skills and Restoring Land: Bio-resource Quantification, Ecosystem Evaluation and Land Degradation Neutrality Capacity in Kogi State, Nigeria.
For Nigeria, I would like to see a measurable mechanism whereby scientific baselines, measurable targets, independent monitoring and periodic evidence reviews accompany major land-restoration policies and programmes. The ultimate test is simple: Can scientific evidence change a government decision, improve an investment or change what happens on the farm? If the answer is yes, then we are closing the science-policy gap.
PT: What technologies could Nigeria realistically deploy to predict drought and prevent its worst impacts?
Ifatimehin: Nigeria does not need to wait for futuristic technology. Much of the technology required already exists; the challenge is integrating it and deploying it at scale.
First is satellite Earth observation. Satellite systems can monitor vegetation stress, soil moisture, rainfall anomalies, surface water and land-use change across Nigeria. This allows the government to identify emerging drought conditions over large areas much faster than conventional field surveys.
Second is artificial intelligence and machine learning. AI can combine satellite observations with rainfall, temperature, soil, crop, hydrological and historical drought data to identify patterns and generate localised drought-risk forecasts. Third is multi-hazard early-warning systems. Nigeria should connect meteorological and hydrological forecasts with agricultural advisory services so that a warning becomes an actionable message — for example, when to plant, which crop or variety is more appropriate, when to conserve water, or where livestock movement and water resources may become constrained.
Fourth is climate modelling and seasonal forecasting, which can support planning several months ahead. But technology alone is insufficient. Nigeria needs an end-to-end drought information system linking observation to forecasting, early warning, communication, early action and impact assessment. A measurable target could be to ensure that drought warnings reach vulnerable farming and pastoral communities before critical agricultural decisions are made, rather than after losses have already occurred.
PT: How can modern science and Indigenous knowledge be combined at the community level?
Ifatimehin: The answer is not to choose between modern science and Indigenous knowledge. We need to put them into dialogue. Farmers and pastoralists possess generations of knowledge about rainfall patterns, soil characteristics, pasture availability, water sources, drought indicators, livestock behaviour and locally adapted crops. Modern science brings remote sensing, climate modelling, soil analysis, forecasting and new technologies.
The most effective approach is therefore co-production of knowledge. Scientists should work with communities to test Indigenous observations against meteorological, ecological and satellite data and determine what is reliable, where it works and under what conditions. For example, if pastoral communities have traditional indicators for anticipating pasture or water scarcity, these can be assessed alongside satellite vegetation indices, rainfall forecasts and groundwater information. Where both sources provide consistent signals, the resulting early-warning system is likely to have greater local credibility and uptake.
We should also ensure that communities are not merely treated as recipients of scientific information but as knowledge partners.
ALSO READ: COP17 advances $1.3bn for land restoration, puts rangelands at centre
A measurable approach would be to establish community demonstration sites where restoration interventions are jointly designed, tested and monitored, with indicators such as vegetation recovery, soil health, water availability, livestock productivity and household livelihoods.
PT: What should governments, universities and development partners do differently to move African innovations from laboratories into practical solutions?
Ifatimehin: Africa needs to change the way it measures research success. A scientific publication is important, but it should not be the final destination.
Governments should create innovation-to-implementation pathways in which promising technologies are identified, field-tested, independently evaluated and then incorporated into national programmes and procurement systems.
Universities should strengthen technology-transfer offices, innovation hubs, demonstration farms and partnerships with farmers, pastoralists, government and industry. Research funding should include resources for field validation, scaling and adoption, not only laboratory research.
Development partners should move beyond financing short-term pilot projects. Where a technology has demonstrated effectiveness, financing should support the transition from pilot to demonstration, scale-up and institutional adoption.
The private sector is also critical because governments and donors alone cannot finance the scale required.
For Nigeria, I would propose a Land Restoration Innovation Pipeline with clear stages: Research → Field testing → Independent validation → Community adoption → Investment readiness → Scale-up → Impact measurement. Success should be measured not simply by the number of papers or projects produced, but by outcomes such as hectares restored, farmers and pastoralists reached, increases in soil and water productivity, drought losses avoided, jobs created, technologies commercialised and sustained improvements in livelihoods.
My central message from COP17 is that Africa does not need to reinvent science; it needs to connect the science we already have to decisions, finance and action.
Nigeria has universities, research institutions, satellite technologies, climate scientists, Indigenous knowledge and a growing innovation ecosystem. The opportunity now is to connect these assets through stronger science-policy institutions, digital knowledge platforms, predictable financing and measurable implementation. “Restoring Land, Restoring Hope” must therefore mean moving from knowledge to action, and from isolated projects to nationally and locally scalable solutions.
PT: Thank you so much for your time, Prof.
Ifatimehin: Thank you for the opportunity. Bye.
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Business
Nigeria Targets $21 Billion Investment in Landmark Bonga Southwest Deal
Published
13 hours agoon
August 25, 2026By
PreportBYAGENCY REPORTERS —The Nigerian National Petroleum Company Limited (NNPC Ltd), and the OML 118 Contractor Parties — Shell Nigeria Exploration and Production Company Limited (SNEPCo), Esso Exploration and Production Nigeria (Deepwater) Limited, and Nigerian Agip Exploration Limited (NAE) — yesterday executed the Addendum to the OML 118 Production Sharing Contract (PSC) and the Addendum to the Dispute Settlement Agreement (DSA), marking a major milestone in the advancement of the deepwater Bonga Southwest/Aparo project (BWSAp) towards Final Investment Decision (FID).
The execution gives effect to the fiscal and commercial terms approved by the Federal Government to support the development of BSWAp and it reinforces Nigeria’s commitment to creating a competitive, stable and attractive environment for large-scale deepwater investment.
The milestone follows the approval by President Bola Ahmed Tinubu of the Deep Offshore Oil and Gas Projects Incentives (Tax Remission) Order, 2026, an important component of the Federal Government’s ongoing reforms to enhance the competitiveness of Nigeria’s deepwater sector and unlock new investment. The BSWA PSC and DSA Addenda demonstrate the practical impact of these reforms in translating policy into investment and project development.
BSWAp is expected to be one of Nigeria’s largest deepwater developments, with the potential to attract US$15 billion to US$21 billion in investment over the life of the project and achieve peak production of about 175 kbopd of oil and 140 mmscfd of gas. The development is expected to contribute significantly to Nigeria’s economy through increased oil and gas production, government revenues, foreign exchange earnings, local content development, employment and expanded opportunities for Nigerian businesses.
Speaking on the milestone, the Group Chief Executive Officer of NNPC Ltd, Engr. Bashir Bayo Ojulari, said: “The execution of the BSWAp PSC and DSA Addenda demonstrates the effectiveness of President Tinubu’s reforms in translating policy into investment. This is about unlocking a major deepwater project and demonstrating that Nigeria has a competitive fiscal framework and a clear pathway for sustainable investment in its energy sector. NNPC Ltd will continue to work closely with the Federal Government, our partners and other stakeholders to ensure that this project delivers maximum value for the Federation and the Nigerian people.”
The Contractor Parties also announced the successful completion of the project’s Pre-Front End Engineering Design (Pre-FEED) phase, marking an important milestone in maturing the technical and commercial scope of the development and positioning the project to progress into the Front End Engineering Design (FEED) phase, subject to applicable partner, assurance and governance requirements.
Following a competitive selection process, a bidder has been identified as the preferred Floating Production Storage and Offloading (FPSO) contractor for the BSWA project, subject to completion of applicable partner, regulatory, assurance and governance processes. The selection provides a basis for progressing the FPSO concept into FEED and for undertaking the further engineering and commercial work required to mature the project towards FID. Any eventual award of the FPSO Engineering, Procurement, Construction and Installation (EPCI) contract remains subject to the completion of all applicable approvals and requirements.
Once operational, BSWAp is expected to become one of Nigeria’s most significant new deepwater production hubs, contributing materially to national oil production and supporting the country’s ambition to sustainably grow oil and gas output over the coming years.
The project is expected to deliver substantial benefits to Nigeria through billions of dollars of investment, increased participation by Nigerian contractors and suppliers, and significant direct and indirect employment opportunities across engineering, fabrication, offshore construction, logistics and operations.
BSWAp is also expected to strengthen Nigerian content through increased contracting opportunities for indigenous companies, enhance local fabrication, marine and engineering capabilities, facilitate technology transfer and skills development, and create lasting value across the wider Nigerian economy.
The milestone reflects the strong collaboration among NNPC Ltd, the Federal Government, relevant regulatory agencies and the OML 118 Contractor Parties , and reinforces Nigeria’s position as a competitive destination for deepwater investment.
NNPC Ltd reaffirmed its commitment to working with all stakeholders to advance the BSWA project safely, competitively and responsibly, while maximising value for Nigeria and the Nigerian people.
The post Nigeria Targets $21 Billion Investment in Landmark Bonga Southwest Deal appeared first on Business Today NG.
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