Lagos-Badagry Expressway has been shortlisted among the South-West road projects to benefit from the N162.5billion SUKUK fund recently released by the Federal Government (FG).
According to Nigerian Tribune report, the approved sum for South-West and North-East are N27 billion and N30.5 billion respectively with a total of six road projects to be covered in the South-West and a total of eight roads in the North-East.
The road projects in the South-West are , Rehabilitation and expansion of Lagos-Badagry expressway (Agbara Junction-Nigeria/Benin Border) Lagos State N4.5billion, Construction of the outstanding sections of Benin-Ofosu-Ore-Ajebandele-Shagamu expressway phase III N4.5billion, Pavement strengthening and asphalt overlay of Ajebandele-Ijebu Ode-Shagamu road Ogun state N4.5billion, Dualisation of Ibadan-Ilorin section II Oyo State N5billion, rehabilitation of the outer Marina road, Lagos N4billion and rehabilitation of Lagos-Ota road, Lagos State N4.557billion.
While the parts to be covered in the North-East are Kano-Maiduguri road(section, SHUARI- AZARE)N11billion, Kano-Maiduguri road section III, Azare-Potiskum N2billion, Kano-Maiduguri road (Section IV), Potiskum-Damaturu N4billion, Rehabilitation of Gwoza-Damboa-Goniri–Ngamdu, Borno State N3billion, Mayo Belwa-Jada-Ganye-Ganye-Tougo, Adamawa State N3billion, Construction of Ibi bridge N2billion and rehabilitation of Nguru-Gashua-Bayamari road, section II PhaseII, Yobe State N1.5billion.
Apart from the two geographical zones, the 2020 SUKUK provision for North-Central, North-West, South-East and South-South are; N26.5billion, N26.5billion, N26billion and N26billion all respectively.
The Minister of Works and Housing, Babatunde Fashola last week, received a total of N162.5billion Sovereign SUKUK Symbolic Cheque for the construction of 44 road projects across the country.
The newly released sum makes it the final tranche of the total N462, 5577,000,000 raised by the Debt Management Office (DMO).