The Federal Government has opened talks with the Islamic Development Bank (IsDB) to secure funding for major road infrastructure, citing fiscal constraints but a determination to complete abandoned and ongoing projects.
The Ministry of Works recently announced plans to finish road contracts left by previous administrations, including those under the Tax Credit Scheme estimated at over N3 trillion. Minister of Works, Engr. Dave Umahi, had raised concerns over the huge resources needed to execute President Bola Tinubu’s directive to inherit all such contracts, but has not yet disclosed clear funding sources.
Although inquiries to the ministry on possible funding options went unanswered, clarity emerged during a meeting in Abuja with the Minister of Finance, Wale Edun, and IsDB’s Vice President for Operations, Dr. Rami M. S. Ahmad.
According to a statement issued by Clement Ezeora on behalf of the Director of Press and Public Relations, Ministry of Works, the government is strengthening collaboration with the bank to deliver priority infrastructure projects.
Edun described the IsDB as a “steadfast ally in Nigeria’s development journey since 2005,” noting that despite fiscal challenges, Nigeria has honored its obligations. He highlighted the bank’s interventions in education, healthcare, agriculture, and innovation, stressing their impact on communities and alignment with Tinubu’s economic reforms.
Representing the Works Minister, Minister of State Mohammed Bello Goronyo outlined the administration’s focus on road projects under the Renewed Hope Agenda. He pointed to the Ilela–Lagos–Sokoto–Badagry economic corridor as a strategic lifeline linking Nigeria with the Niger Republic and other African countries. Construction, he said, has begun on the Sokoto and Kebbi sections, with 25 kilometers cleared on the Kebbi axis by Hitech Construction. Other key projects requiring financing include the Lagos–Calabar Coastal Highway, Calabar–Nasarawa–FCT corridor, and Abuja–Kaduna–Kano Expressway.
Responding, Ahmad reaffirmed the IsDB’s commitment, stating: “For the road projects raised today, we will not allow delays to persist. Where they can be re-scoped, we will act; where not, we will close them and move forward with new initiatives. The Ilela–Lagos–Sokoto–Badagry corridor and other key projects align with our mandate, and through the Country Engagement Framework, we are ready to accelerate their delivery.”
Edun welcomed the assurances, stressing that Nigeria’s priorities would guide the partnership. “It is our bank, our sovereignty, our projects, our priorities. Today, ministries across education, works, transport, and environment have given a comprehensive insight into our legacy projects. The time has come to move beyond frameworks and concept notes to implementation, beginning with the signing of the Abia State Integrated Infrastructure Development Project,” he said.
Minister of State for Finance, Dr. Doris Nkiruka Uzoka-Anite, in her closing remarks, praised the outcome of the talks. “This dialogue has strengthened our partnership and the vast potential that lies ahead. From infrastructure and human capital to Islamic finance and the economy, the opportunities for collaboration are both strategic and urgent,” she said, pledging transparency and efficiency in fund deployment.
