Follow Us on Google
By Dickson Okafor
Chairman of AEC Unity Network Limited, Dr. Kenny Martins has said that the Federal Government has concluded plans for the construction of the 470km Abuja-Lagos Greenfield Super Highway.
Speaking at a press conference recently in Lagos, he said the contract which was awarded to his company, the AEC Unity Network Limited at $4billion was the last stage of approval by the Federal Executive Council (FEC).
The road is one of the legacy projects of the Federal Government as it is expected to be completed in 4 year
He noted that the project was initiated by the late President Muhammadu Buhari, but regretted that he was not alive to witness the progress made so far to commence the road project.
He commended President Bola Tinubu for allowing the AEC Unity Network Limited to continue with the project and several projects going on across the country, including the Federal Capital Territory (FCT).
He also commended the Minister of Works, Dave Umahi and his team of engineers and supporting experts such as advisors, consultants and the Federal Government ministries and parastatals charged with the supervision of the project for their support and cooperation.
“I applaud the cooperation of Advisors, Consultants and other stakeholders that have reached the conclusion of the preliminary aspects of the project designs, studies and approvals. Today, the company fully prepared to go to the site and commence construction as soon as they receive the Federal Executive Council’ approval for the project and the flag-off by the President Tinubu,” he said.
He pledged the readiness, ability and capability of his company to execute the project and provide Nigerians with the nearest link by road to Abuja from Lagos.
“When completed, the road will also facilitate easier and cheaper means of commuting by road between the two cities.
“Furthermore, it will also open up villages and provide a much more convenient alternative for travellers going to Abuja from Lagos, Ogun, Oyo, Osun, Ekiti, Kwara, Kogi and Niger. “We are already in discussion with the government of Niger State to construct a Spur in the state to link the Baro Port which is the only Port in the North to increase its viability,” he said.
On funding, Martins recalled that at the beginning of the journey six years ago, the proposed method of funding was for the Federal Government to provide sovereign guarantee for a sizable proportion of the project funds, but expressed regret that the mutual consensus with the Federal Government could not be kept because of huge foreign debts.
“Hence, we opted to execute the project without the usual sovereign guarantee, but a hybrid of guarantees that enable our financiers to have the confidence that their funds will not be in any danger,” he added.
Key stakeholders, contractors and financial facilitators present at the event included UBA Plc, Associate Engineering Consultants, China Harbour Engineering Company (CHEC), United Capital Plc, Futureview Financial Services Ltd, Olaniwun Ajayi LP, First Global Commerce Solution Ltd and AEC Unity Network Limited directors.
