Federal Government announces preferred bidders for Nigeria Highway Development Management Initiative (HDMI) concession programme.
Written by News Room on May 1, 2022
The Federal Government has announced preferred bidders for the Nigeria Highway Development and Management Initiative (HDMI) concession programme.
This, it said, is in line with its objective to attract private sector technical expertise, managerial capacity and financial resources to improve the quantity and quality of road assets in Nigeria.
The government said the move is with a view to propelling rapid economic development and growth through the haulage of passengers and goods.
Sources familiar with the HDMI programme confirm that the Federal Ministry of Works and Housing, and the Infrastructure Concession Regulatory Commission (ICRC) have commenced notification of preferred bidders for the programme.
The next phase of the programme is the negotiation stage, during which preferred bidders will be invited to negotiate financial terms to be used by the ministry and its advisers to develop and submit a Full Business Case (FBC) to the ICRC for compliance certification and onward transmission to the Federal Executive Council (FEC) for final approval.