FG Commences Cashless Tolling System on Abuja-Keffi-Makurdi Highway
The Minister of State for Works, Barr. Bello Muhammad Goronyo, has stated that the concession of the Abuja-Keffi-Akwanga-Lafia-Makurdi Expressway is set to drive significant economic growth, job creation, and investment opportunities in northern Nigeria.
Goronyo made this known on Tuesday during the official commissioning of tolling operations on the 227.2km highway.
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The Federal Ministry of Works, on May 26, 2023, executed a Concession Agreement with China Harbour Operation and Maintenance Company Ltd (CHOMC) for the operation and maintenance (O&M) of the Abuja-Keffi-Akwanga-Lafia-Makurdi road corridor for a period of 25 years.
In his remarks, Goronyo stated that the concessionaire has been mandated by the ministry to implement a cashless tolling system on the road.
He explained that the rehabilitation and upgrading of the road were financed through a Preferential Buyer Credit Loan from the China Export and Import (EXIM) Bank.
He further noted that the loan agreement stipulates that revenue generated from tolling—after deducting operational costs—shall be primarily used for loan repayment to the China EXIM Bank.
“Meanwhile, toll tariffs are projected to increase by 20% every five years,” he added.
