On Sunday, the federal government and Africa Plus Partners began building the 125-kilometer Benin-Asaba Expressway in Edo State.
At the Benin City project site, Edo State Governor Monday Okpebholo presided over the groundbreaking event on behalf of President Bola Ahmed Tinubu.
Governor Okpebholo praised the project’s financing structure, stating, “This is a legacy project. For private investors to risk their capital, it shows belief in the President’s vision and the future of our economy.”
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, described the project as a significant achievement in infrastructure financing.
“What you see on the front page of the pamphlet will be delivered—because the cash is there. This is not reliant on direct federal funding. Africa Plus Consortium, backed by credible investors, has put forward the full capital commitment under the enabling policies of President Bola Tinubu,” the Minister said.
He also said that this project is part of President Bola Ahmed Tinubu Administration’s Renewed Hope Agenda, illustrating how strategic partnerships can unlock long-term economic value.
Mr. Edun stated that this funding model will be implemented across the country: “This is just one of many projects that will be delivered week after week, month after month, through sustainable financial frameworks that ensure transparency, efficiency, and speed.”
The project is a “cashless model,” according to Senator David Umahi, Minister of Works, who also said that this kind of finance is both feasible and would become more common in the future. A dual-carriage, solar-lit freeway is being built as part of the Benin–Asaba Expressway Project, which is entirely private sector funded using a Public-Private Partnership (PPP) model.
The project serves as an illustration of how creative funding and investor trust may result in the creation of top-notch infrastructure.
