We’ll Toll Roads To Settle Infrastructure Debts – Emefiele
Godwin Emefiele, the Governor of the Central Bank of Nigeria, has stated that some highways in the country will be tolled in order to repay the loan used to build them.
Emefiele said this in response to queries after the Bankers’ Committee had a two-day retreat in Lagos on Wednesday December 15. He also added that toll roads will help with road maintenance.
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“Most of those roads will be tolled and we know that in many other countries in the world, roads are tolled because those projects are commercially viable.
“They can be refunded with tolls so that maintenance can be done on a regular basis, and people will pay for it and enjoy good roads, and enjoy good facilities because that is the only way we can fund the infrastructure of this country, which is the large amount of money that is needed.”
He also revealed that there are a lot of idle funds that can be channeled if packaged the way the Infrastructure Corporation of Nigeria Limited has been set up to give local investors confidence to put their money into the project.
He added that almost all of the funds would be in naira because banks and pension fund administrators have large pools of funds, but most of the funds can be raised locally before the country considers obtaining international finance.