The Presidential Infrastructure Development Fund (“PIDF”) is an initiative of President Muhammadu Buhari managed by the Nigeria Sovereign Investment Authority (“NSIA”). PIDF was conceived in 2018 as the President’s initiative to accelerate the execution of certain critical, strategic infrastructure projects essential to the rapid growth and modernization of Nigeria’s economy.
At inception, there were 5 projects under PIDF namely (i) Lagos-Ibadan Expressway (“LIE”), (ii) Second Niger Bridge Project (“2NB”); (iii) Abuja-Kano Road (“AKR”), (iv) Mambilla Hydro-Power Project (“Mambilla”) and (v) East West Road (“EWR”).
The EWR project was removed from the PIDF Portfolio based on the request of the Federal Ministry of Niger Delta Affairs (“FMNDA”), to enable the FMNDA undertake the EWR project as a public works contract. This request was approved by Mr. President in a directive communicated on June 8, 2020. Further, the Mambilla Project is yet to be fully developed for to enable NSIA to participate in the project.
The LIE, 2NB and AKR projects (the “Ongoing Projects”) are currently under implementation. NSIA is responsible for administering the financing required to develop the Ongoing Projects. The three roads will be commercialised through tolling, concessions, marketing, and other revenue generating strategies
- Second Niger Bridge (2NB): A greenfield construction of an 11.9km, 2x3 lane Greenfield highway connecting Asaba (Delta State) and Onitsha (Anambra State).
- Lagos - Ibadan Expressway (LIE): Involves the rehabilitation, reconstruction, and expansion of the Lagos-Ibadan Expressway. The 127km highway links the city of Lagos with Ibadan and proceeding onwards to connect the northern region of the country. It is among Africa’s most important roadways.
- Abuja – Kano Road (AKR): The project as initially conceived as a rehabilitation contract to correct certain sections of the road as well as construction of new sections. It is a critical part of the A2, which is a main artery within Nigeria’s transportation grid, enabling the movement of people and products from the North to the South and vice versa. The project has subsequently been rescoped to a full reconstruction of the entire 375km of the road spanning from Abuja to Kaduna to Kano.
At completion, it is expected that these projects will greatly enhance the prospects of Nigeria’s growth. The projects are being undertaken using international best-practices.