Alhaji Aliko Dangote, the president of Dangote Industries Limited, and HiTech Construction have been praised by President Bola Ahmed Tinubu, Lagos State Governor Babajide Sanwo-Olu, and Minister of Works, Engr David Umahi, among others, for their contributions to the completion of the Oworonshoki-Apapa Expressway.
The 37-kilometer road was started in 2018 by the previous administration and is expected to be finished in 2024. President Tinubu, who was accompanied by Senate President Godswill Akpabio, exclaimed that this is a victory for all Nigerians.
He clarified that Lagos State is extremely crucial to Nigeria and as such, it must act in everyone’s best interests.
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Lagos is everyone’s home, and I appreciate Mr. Dangote conceived of this project and, along with HiTech, created the Tenth Wonder of the World.Under the renewed hope agenda, Lagos is not the only state seeing growth and development.
He said, ‘I also commend Minister of Works David Umahi for his fervent dedication to structural development throughout Nigeria.’
Prior to December 2018, Mr. Dangote emphasized that the road’s “extremely poor” condition severely hindered the evacuation of goods and restricted access to markets, paralyzing the manufacturing and shipping industries and disrupting supply chains throughout the entire economic landscape.
‘It used to take two weeks to go to the port before this road was completed, and in around 18 months, we lost over N60 billion in dissent. ‘This project’s successful completion serves as an illustration of the beneficial effects that can result from public-private sector collaboration.
‘With the help of the innovative Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme, Executive Order 007, the Dangote Group has been able to raise capital for the full restoration of the 37-kilometer Apapa-Isolo-Oworonshoki Road and its enlargement to 10 lanes.’
Oworonshoki-Apapa Expressway: Tinubu, Sanwo-Olu Umahi Dangote HiTech
Dangote went on to say that the Group was honored to work with the Federal Government on the revolutionary projects, restating its dedication to the prosperity and development of the country.
In order to make the plan more feasible for the private sector players, he added, it is essential that it be reviewed.
In this instance, we’ve so We view this project solely as a kind of corporate social responsibility because we have only collected 40% of our investments thus far, and the remaining amount is not due until 2027.
‘Given the high cost of capital in the Nigerian fiscal environment, we feel that a more commercial interest rate recovery should be permitted;’ he stated.
During his speech, Engineer Umahi also praised the Dangote Group for a job well done, noting that the Dangote Cement’s quality bears witness to its value when driving.
‘I know how bad the road was since I was once stuck for eight hours on my way to the airport. Today, we are commemorating this project because it was executed skillfully and featured cutting-edge technology. Streetlights powered by solar energy complete the look.
In a similar spirit, the Third Mainland Bridge, a route that has existed for almost 40 years, wasn’t just another restoration project. I’m pleased to inform that the President has ordered a prohibition on sand excavation 10 kilometers from bridges throughout Nigeria in an effort to extend the lifespan of our bridges.
About 20 businesses have left the Apapa area of the state, according to Lagos State Governor Babajide Sanwo-Olu, who was represented by his deputy, Obafemi Hamzat, because of the terrible state of the road.
‘We appreciate Aliko Dangote and HiTech’s outstanding work. Driving from there used to take more than seven hours. It now takes about an hour to travel from one end of the road to the other;’ he continued.
