The Federal Government said it has voted N1,134,690,048,000.76 as the initial capital for the construction of 12 roads.
Minister of Works and Housing, Mr. Babatunde Fashola, who made this known, said the roads were chosen to ensure that the six geopolitical zones in the country benefited from it.
He added that the Federal Government is already executing over 700 contracts, which aggregate to the rehabilitation and reconstruction of over 13,000km roads and bridges across the 36 states of the federation and the Federal Capital Territory (FCT).
Fashola disclosed this during the Highway Development Management Initiative Ministerial Notice briefing, noting that as a result of the size of the undertaking, there was a demand for funding to finance the projects to completion and maintain them.
There was also the need to finance other complementary services like weigh bridges, rest houses towing vehicles and road furniture which seem better suited for the commercial initiative of the private sector, the minister said.
The ancilliary services and provision of furniture on major roads across the country is what the HDMI initiative is designed for according to the minister.