- Say ₦1.58 trillion projected revenue unaccounted
By Femi Mustapha in Kaduna
Civil society groups and media advocates have called on the Federal Government to immediately publish the Benin–Asaba Road concession agreement and begin urgent repairs on the deteriorating highway.
They warned that road users should not have to suffer while questions about money, ownership, and accountability remain unanswered.
The demand was outlined in a Media Advocacy Briefing Memo issued on Monday by Rev. David Ugolor, Publisher of The Common Good Letter, and made available to journalists in Kaduna.
According to the memo, the 125-kilometer corridor connecting Edo and Delta States was approved by the Federal Executive Council in January 2023 under the Highway Development and Management Initiative. A 25-year value-added concession was later awarded to the Africa Plus Consortium.
Public records cited in the briefing show that the concessionaire is expected to recoup investments through tolls and other commercial activities within the right-of-way.
The Infrastructure Concession Regulatory Commission (ICRC) forecasts revenue of about ₦1.58 trillion over the concession period.
The memo also referenced the January 2024 announcement by the Obaseki administration of a reported ₦228 billion financing and equity arrangement involving InfraCorp and Triple A Infrastructure.
The former governor stated that Edo State spent nearly ₦1 billion on remedial works and would participate as an equity investor.
It further noted that BAECC claims it mobilized resources in 2025, is privately financing execution, and aims to deliver the first 65 kilometers of the road by April 2027.
Despite these claims, Rev. Ugolor said that critical documents are still undisclosed. These include the full, signed concession agreement, schedules, amendments, and clarification on the reported ₦87.26 billion commercial close value and how it relates to both the ₦228 billion package and the ₦1.58 trillion projected revenue.
Other unresolved issues include the shareholders and beneficial owners of BAECC, the complete membership and equity structure of Africa Plus Consortium, and the value and current status of Edo State’s equity stake.
The briefing also inquired who authorized the removal of about 30 kilometers of asphalt, what happened to the removed material, and whether the necessary performance bonds, bank guarantees, and insurance policies are valid and enforceable. It further sought clarity on provisions for FERMA or other emergency government intervention along the concessioned corridor.
“CORE POSITION: A concession does not extinguish government responsibility. Private capital may finance and manage the corridor, but public authorities remain responsible for contract enforcement, safety, transparency, and protecting the public interest,” Rev. Ugolor said.
The advocates outlined key demands: publish the contract, the business case, the performance standards, the toll model, and the risk allocation; reconcile all publicly cited figures and disclose financial commitments; and publish the SPV shareholder register and beneficial ownership details.
They also called for an agreed, time-bound emergency traffic and palliative plan, an independent forensic engineering review of pavement removal and drainage, confirmation of bonds and guarantees, and monthly updates on verified progress, expenditures, and safety measures.
Rev. Ugolor emphasized that this campaign aims not to accuse anyone of wrongdoing but to promote transparency and accountability.
“A concession cannot serve as a shield behind which government and private investors hide while citizens suffer,” he said. “Publish the contract, explain the money, identify the owners, and protect road users.”
The memo recommended that journalists question the Federal Ministry of Works and the ICRC about why the agreement has not been published and what remedies and step-in rights exist. It also urged inquiries with BAECC and Africa Plus Partners regarding SPV ownership and pavement removal approvals; with Edo State officials on equity commitments and approvals; and with InfraCorp, Triple A, and Afrinvest on their specific financing and advisory roles.
Further, it suggested asking former Governor Obaseki and Ike Chioke whether their previous professional relationships were disclosed and what safeguards were put in place to prevent conflicts of interest. It also called for an independent engineer to assess what work was certified and what failed.
Immediate actions include coordinated Freedom of Information requests to the Federal Ministry of Works, ICRC, BPE, and Edo State authorities within 48 hours; a media briefing with road users, transporters, and engineers within 7 days; and a preliminary transparency scorecard within 14 days.
Rev. Ugolor urged editors and reporters to distinguish verified facts, interested-party statements, unanswered questions, and allegations, and to provide a right of reply to all individuals and institutions named—including BAECC, APP, InfraCorp, Triple A, Afrinvest, former Governor Obaseki, and Ike Chioke.
“The Benin–Asaba Road must become a test of whether Nigeria can combine private finance with public accountability,” he stated.
“The public needs an operational road immediately and a transparent contract investigation concurrently. One should not be used to delay the other.”
