The NSIA is actively pursuing investments in road infrastructure delivery and maintenance to improve the general state of the roads, reduce the funding burden on the Federation Account and introduce private sector efficiencies to the procurement, delivery and management of road infrastructure.
The Presidential Infrastructure Development Fund (PIDF) is an initiative of President Muhammadu Buhari and is managed by the Nigeria Sovereign Investment Authority (NSIA). PIDF was conceived in 2018 as the President’s initiative to accelerate the execution of certain critical, strategic infrastructure projects essential to the rapid growth and modernization of Nigeria’s economy.
At inception, there were 5 projects under PIDF namely (i) Lagos-Ibadan Expressway (LIE), (ii) Second Niger Bridge Project (2NB); (iii) Abuja-Kano Road (AKR), (iv) Mambilla Hydro-Power Project (Mambilla) and (v) East-West Road (EWR). The EWR project was removed from the PIDF Portfolio based on the request of the Federal Ministry of Niger Delta Affairs (FMNDA), to enable the FMNDA to undertake the EWR project as a public works contract. This request was approved by the President in a directive communicated on June 8, 2020. Further, the Mambilla Project is yet to be fully developed to enable NSIA to participate in the project.
The LIE, 2NB and AKR projects are currently under implementation. NSIA is responsible for administering the financing required to develop the Ongoing Projects. The three roads will be commercialised through tolling, concessions, marketing, and other revenue-generating strategies.