The Federal Government has terminated the concession agreement for the project due to over NGN25 billion (~US$75 million) outstanding debt

Date January 17, 2018

Type Projects

Countries Nigeria

Subsectors Telecom

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The Federal Government has terminated the concession agreement for the project due to over NGN25 billion (~US$75 million) outstanding debt. Phase3 has contested this allegation, stating that it has kept to the terms of the concession agreement and has not engaged in any diversion or misappropriation of funds owed to TNC

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▶The House of Representatives of the Government of Nigeria has resolved to set up an ad-hoc committee to investigate the termination of the concession agreement
▶A Request for Expression of Interest (RFEOI) has been advertised, and a few investors have expressed interest
▶The Director of Planning of Ghana Highway Authority has announced that the PPP project is in development

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The Federal Government has terminated the concession agreement for the project due to over NGN25 billion (~US$75 million) outstanding debt

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