May 28, 2022


Accounting + Finance Blog

ADFB May Give $100M Loan To Finance Abuja BRT

BRT bus in Abuja.

The Africa Development Bank, ADFB, may provide loan of $100 Million to finance Bus Rapid Transit, BRT in Abuja. This was disclosed by the FCT Transportation Secretary, Alihaji Hamid Suleiman and was made available by News Agency of Nigeria.

According to Suleimon, although the loan is not part of the Federal Government of Nigeria borrowing plans, the bus will ply from Eagle Square in Abuja to Aura Balaifi in Nasarawa State.

He stated also that $950 CTF grant has been approved for preparatory study of the pilot BRT corridor which between Eagle Square and Aura Balaifi.

He added that the Nigeria Infrastructure Advisory Facility, NIAF, is sponsored by the Department of International Development, DfID, and administered by Adam Smith International of London.

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He said, “It is to facilitate and accelerate infrastructure reform and policy development, institutional strengthening, legislation, capacity building, planning and regulation.”

“NIAF has successfully conducted studies on FCT Travel Demand Survey, Conceptual Design of BRT infrastructure.”

“It has also conducted viability studies of BRT services for FCT with the supervision of the BTR & TR,’’ he said.

The scribe noted futher that there has been improvement to road and the procision of other facilities to ensure safety and orderly flow of traffic in the city.

Suleiman said “the improvement include road markings, installation of traffic signs and signals, installation of delineators and other traffic control devices.”

He said “there was also the provision of cat-eye road signs, construction of bus shelters, installation of red light cameras and removal of speed bumps where necessary.”

Abuja is the Federal Capital of Nigeria with a population of about 776,298, according to 2006 censor. The Federal estate, Aso Rock Villa, is named after a rock in Abuja known as Aso Rock.

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