BICOURTNEY & FEDERAL MINISTRY OF WORKS SIGN N90 BILLION CONCESSION AGREMENT FOR LAGOS-IBADAN EXPRESS WAY

The Minister of Works, Housing and Urban Development, Dr. Hassan Lawal, on Tuesday described President Musa Yar’Adua’s commitment to infrastructure development as legendry and worthy of support by both local and international investors.

Speaking at a ceremony to sign the 25-year concession agreement with Bi-Courtney Consortium, concessionaires of the Lagos-Ibadan Motorway, the minister noted that Nigerians’ response to call by government for partnership to rescue the nation’s ailing infrastructure was a demonstration of the people’s faith in the nation.

“No investor will want to invest billions of naira in a nation where he has no confidence. No businessman or woman would want to enter into any serious business relationship with a nation for which they have no trust. The warm embrace that entrepreneurs give to President Umaru Yar’Adua’s seven-point agenda and the vision of his administration is a reflection of their belief in his leadership and his vision,” the minister said.

He described the Lagos-Ibadan Motorway as of immense economic importance to the nation and to most Nigerians and therefore sought support and cooperation from all stakeholders for the successful implementation of the concession agreement by Bi-Courtney.

In his address, chairman of Bi-Courtney, Dr. Wale Babalakin (SAN), noted that the concession agreement, which climaxed 27 months of due process, was made possible at this time because of the commitment of President Yar’Adua.

“The president has maintained that his focus on infrastructure development and successful pursuit of the seven-point agenda and Vision 20, 2020 would be resolutely promoted. His belief in partnership with the private sector is also a demonstration of his foresight so that Nigeria’s growth speed can be quickened,” he said

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