The Nigerian government has highlighted the urgent need for alternative funding sources to maintain the nation's extensive road network, which spans over 35,000 kilometers. The Minister of Works and Housing, Mr. Babatunde Raji Fashola, made the statement during a recent meeting with key stakeholders in Abuja, stressing that without innovative financial strategies, the country may struggle to sustain its infrastructure development.
Nigeria's road system, critical to both economic activities and social mobility, faces a growing challenge of wear and tear. With limited resources allocated for road maintenance, the government has been exploring alternative methods of funding to ensure the continued repair, upgrade, and management of its roads.
“We are dealing with the reality that Nigeria has over 35,000 kilometers of roads that need constant attention, and traditional funding avenues are no longer sufficient to meet the demand. We must be creative in seeking alternative funding mechanisms, including public-private partnerships, road tolls, and international investments, to help maintain these vital assets,” said Fashola.
He emphasized that proper maintenance is crucial to improving safety, reducing travel time, and enhancing the overall economic efficiency of the country. The government is also exploring the possibility of leveraging technology and innovative financing models to help reduce costs and increase the efficiency of road projects.
The minister acknowledged that maintaining the nation's road infrastructure is not only vital to the transportation sector but also plays a crucial role in achieving Nigeria's broader development goals. In his words, “Roads are the lifeblood of our economy, and without them, we cannot fully harness our potential. We are committed to ensuring that they remain in optimal condition for the benefit of all Nigerians.”