•As Emefiele Tasks Private Sector Operators On Infrastructure Bond
Alhaji Aliko Dangote, President of Dangote Industries Limited, on Saturday, November 23, 2019, assured that the first phase of the construction work on the on-going road construction from the Apapa Port to the Lagos-Ibadan Expressway toll gate would be ready before the end of December 2019.
He announced this in Lagos when Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), embarked on a tour of the project being undertaken by the Dangote Group.
Emefiele used the occasion to advise other corporate bodies in the country to take advantage of the Presidential Order 7 recently signed by President Muhammadu Buhari, to encourage the raising of infrastructure bonds at concessionary rates.
While commending President Muhammadu Buhari for signing the Executive Order, which opened the opportunity for private companies to intervene and, in the process, support the Federal Government’s desire to develop critical infrastructure in Nigeria.
According to him, the Apapa Port road, being constructed by the Dangote Group, Is comparable to those constructed in countries with more developed technology.
“It is a good thing for this country. When we talk about the Ease of Doing Business, you can imagine a situation whereby people have been complaining about the ease of transporting their goods out of the Apapa port,” he added.
While commending Alhaji Dangote for taking the initiative, the CBN governor expressed hope that the road would ease the traffic congestion on the route, particularly for trucks conveying goods cleared from the ports.
He further commended the Dangote Group for embracing local content, stressing that “this is 100% local content. Alhaji Dangote uses his cement on this road, the rods, I understand, are coming from African Foundries that smelted waste steel, which is converted into iron bars and is being used for the road.”