- President assures of more spending on enduring infrastructure
As the United States Government introduces a bill that would tax remittances sent from the country to other countries, Nigeria and other countries are about to experience an economic setback.
This bill seeks to place a 3.5 percent tax on remittances and money sent by migrants to their home countries and will apply to about 40 million non-US citizens, including green card holders, temporary workers, and undocumented immigrants.
The bill has passed the US House of Representatives, and if implemented, it would cause Nigerians to lose about $215 million.
Migrants in various countries across the world, including the US, often send money to their home countries. These remittances are usually in the form of cash or electronic transfers, sent via formal or informal channels.
In countries like Nigeria, Monrovia and Liberia, these foreign remittances make up a significant portion of GDP. Nigeria, for instance, received over $20 billion in remittances in 2023.
In 2024, Nigeria received approximately $20.9 billion in foreign remittances, marking a 9% increase from the $19.5 billion recorded in 2023. This was the highest level in five years.
Remittance inflows continued to grow as of early 2025, with $328.76 million recorded in the first four months of the year. The Central Bank of Nigeria aims to further increase monthly remittance inflows to $1 billion.
President assures of more spending on enduring infrastructure
However, President Bola Tinubu said more funds would be committed to infrastructure development and urged governors to collaborate with the federal government to align building approvals.
The President, who commissioned the Lekki Deep Sea Port Access Road at the Dangote Refinery and Petrochemical Plant on Thursday in Lagos, said proper approval alignment between subnational and federal governments will facilitate the construction of major roads and bridges across the country.
“I have directed the Minister of Works, David Umahi, and the Surveyor General of the federation to work more closely with the governors,” the President said.
President Tinubu said aligning state approvals with the Federal Government will reduce the burden of compensation and delays in actualising people-oriented projects.
“Please, my dear governors, let’s work together. Don’t give planning approvals without collaboration with the Surveyor General and the Ministry of Works. I am appealing to you to realise the same development goal.
“Let me emphasise the ban by the Federal Government of Nigeria on any dredging within a 10km radius of all our Bridges nationwide. I appeal to all governors, relevant agencies, and security agencies to implement this ban immediately,” President Tinubu said.
The ceremony came five days after the President commissioned Phase 1 of Section One of the Lagos-Calabar Coastal Highway, also in Lagos.
He commended the Federal Ministry of Works, Messrs Hitech Construction Company Limited, Messrs Dangote Industries Limited, BUA and all contractors involved in the country’s road development. He said his administration is committed to building enduring infrastructure nationwide.
He dismissed critics of the government’s legacy projects for being ignorant about how the government awarded the legacy roads to contractors.
“It is necessary to note that the Federal Executive Council approved our Legacy Projects to be procured, awarded and constructed in sections. The completed 30 km segment of the Lagos-Calabar Coastal Highway is part of the 47.7 km, six-lane Section I contract, not a wholesale 750 km contract, as some have suggested. No contractor has been awarded the entire corridor.
“Our approach has been systematic, transparent, and section-based. The Sokoto-Badagry Superhighway envisioned 47 years ago under the Shagari administration, is another legacy project we have revived. This corridor – spanning Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun, and Lagos -holds immense potential for agriculture, trade, and industrialisation.
“It connects over 58 dams, vast arable farmlands, and trade routes to our West African neighbours and offers great promise for windmill energy generation. Construction is well underway. In Kebbi, we have completed over 10 km of the 258 km three-lane carriageway, and today we flag off the second carriageway. This section is the longest in all our Legacy Projects.
“In Sokoto, work has begun on the 120 km 2single-carriageway by three lanes from Illela. I understand that over 10km of this project is already completed. Today, we shall be flagging off the second carriageway of 120km with three lanes.
“Work is also at an advanced stage in this section. More sections are being designed for procurement and awarding within the whole length of the Sokoto-Badagry Superhighway. On my way here, I witnessed significant progress at Section II of the Lagos-Calabar Coastal Highway, with over 10 km of the 55 km stretch already completed.
“I am also pleased to report ongoing works in the Cross River and Akwa Ibom sections and have directed that more segments be designed and procured. The Trans-Sahara Trade Route, another visionary project, is advancing steadily. It will connect Calabar to Abuja via Ebonyi, Benue, Kogi, and Nasarawa,” he said.
President Tinubu said he had directed accelerated design on the 4th Legacy Project of the Akwanga-Jos-Bauchi and Gombe corridor to enable procurement to start.
“Let me assure you that with God on our side, we shall complete these projects and deploy them for the economic benefit of our nation”.
Other projects commissioned by the President include Yakasai to Zalli Road, Kano State (CCECC), Shendam Bridge, Plateau State (Triacta), Kwanar-Hadejia Section II (82km), Kano/Jigawa States (CCECC), Jimeta Bridge, Adamawa State (Triacta), Ilobu-Erinle Road, Kwara/Osun States (IAC) and Cham-Numan Bridge, Adamawa State (CGC).
President Tinubu flagged off the following projects for construction: Section I Phase IB-120km of Sokoto-Badagry Superhighway in Sokoto State; construction of Section II Phase 2 B-258 km of Sokoto-Badagry Superhighway in Kebbi State; construction of Lagos–Calabar Coastal Highway (Section II)-55km in Lagos to Ogun State Border; rehabilitation of Zaria-Hunkuyi to Daya Road (Sections I, II & III) 152.67km in Kaduna/Kano States and reconstruction of Dikwa – Gamboru – Ngala Road – 49.55km in Borno State.
Also flagged off was the completion of the dualisation of the Kano – Maiduguri Road linking Kano – Jigawa – Bauchi – Yobe and Borno States; 100.95km, construction of Maiduguri Ring Road – 108km, construction of Kano Northern Bypass Road in Kano State, – 74km; construction of 7th Axial Road at Lekki Deep Sea Port, Lagos State to Ijebu-Ode, Ogun State– 25km by 6-lane and completion of rehabilitation of Lokoja – Benin road on rigid pavement.
Other roads are the dualisation of Oyo—Ogbomoso Road in Oyo State, 104km; the dualisation of Kano—Daura—Kongolam in Kano, Jigawa, and Katsina States, 264km –BUA Tax Credit; and the reconstruction of Bama–Banki Road in Borno State, 49.15 km Dangote Tax Credit.
The President thanked the “four wise men of the private sector”: Jim Ovia, Femi Otedola, Abdulsamad Rabiu, and Aliko Dangote, for contributing to Nigeria’s economy. He also commended the Minister of Works, Roland and Gilbert Chagoury, and Aigboje Aig-Imoukhuede.
The governors of Plateau, Abia, Enugu, Ogun, Borno, and Kaduna States attended the ceremony.
Speaking on behalf of the governors, the Governor of Kaduna State, Uba Sani, thanked the President for removing the subsidy, which had translated into increased allocations to the states for health, education, and infrastructure investments.
Sani assured the President of the sub-national collaboration to improve infrastructure nationwide.
President Tinubu thanked Alhaji Aliko Dangote for his interest in developing the country through continuous investments.
“Having inspected the Dangote refinery, which is a great point of reference, a great phenomenon of our time and a massive investment, I want to thank Aliko Dangote,” he stated. “I am happy that the Deep Sea Port I initiated as Governor of Lagos State is a huge success today. Users save vast amounts of money using this port because they no longer need to trans-ship their goods. I commend the quality of the access road done by Messrs Dangote Industries Limited on our Tax Credit Road programme and the subcontractor, Messrs Hitech Construction Company Limited.
The president of the Dangote Group, Aliko Dangote, thanked the President for envisioning and implementing the Lekki Deep Sea Port project and assured him of the private sector’s support for expanding infrastructure nationwide.
Dangote names road leading to refinery after Tinubu
Meanwhile, Africa’s richest man, Aliko Dangote, has named the main road leading to the Dangote Refinery in Lagos after President Bola Tinubu, in honour of his contributions to the project.
Dangote made the announcement on Thursday during the official commissioning of the Deep Sea Port Access Road in Lagos State — an infrastructure linking the Dangote Fertiliser Plant to the Eleko Junction.
“The Dangote refinery complex is in many ways your brainchild. President, let me just say one thing — the main road going into our refinery is now going to be called Bola Ahmed Tinubu Road,” Dangote told the president
He lauded Tinubu’s leadership, describing him as a “courageous” and “ambitious” leader whose administration has inspired renewed confidence in private sector investment.
“With continued collaboration and shared resolve, we are confident that the journey ahead will usher in even greater opportunities for our people and our country under your courageous and ambitious leadership.
“Mr President, you are a very courageous leader. Please continue the great work you are doing. Thank you for your support and encouragement. Definitely, you should expect more, and you should see more, as this has given us the confidence to do more in supporting your government,” he said.
Following the announcement, President Tinubu stood up and shook hands with the President/CEO of the Dangote Group in a moment that drew applause from dignitaries present.
According to Dangote, the deep-sea port access road is “one of eight major projects totaling 500km, including two in Borno State that will link Nigeria to both Chad and Cameroon.”
The newly named road stretches through Epe–Ijebu-Ode and connects to the Sagamu–Benin Expressway, forming a crucial link for logistics and trade in the region.