The Minister of Works, Senator David Umahi, launched a new team to manage contracts for the Highways Development & Management Initiative (HDMI). The team, called the Contract Management Team (CMT), will focus on Valued-added Concessions, a category of projects under HDMI.
HDMI is an initiative of the Ministry of Works that is designed to manage and develop federal road networks. It aims to attract sustainable investment and funding in the development of road infrastructure and maximize the use of assets along the right of way (RoW).
The CMT is responsible for guiding contracts to financial close and project implementation. It is composed of representatives from the Ministry of Works, the Infrastructure Concession Regulatory Commission (ICRC), and the private sector.
In his speech at the inauguration, Minister Umahi urged the members of the CMT to be proactive and to work closely with the Concessionaires to ensure the success of HDMI. He also said that the government is committed to providing the CMT with the necessary support.
The minister’s speech was followed by a presentation by the ICRC on the HDMI framework. The presentation highlighted the benefits of HDMI, including the potential to attract private investment, improve the quality of roads, and create jobs.
The inauguration of the CMT is a significant milestone for HDMI. It marks the beginning of the implementation of this important initiative, which has the potential to transform the Nigerian road sector.
SOURCE: Ajayi Taiwo