Road Tolls To Return; As NABCO Ends September 1
Finance Minister, Ken Ofori-Atta, has announced plans by government to toll all new roads to be constructed under a concession agreement between the Ghana Infrastructure Investment Fund (GIIF) and the Roads and Highway Ministry, through the Public Private Partnership Act, 2020 (Act 1039).
The move, according to the finance minister, is to help government recover expenditure incurred for the execution of major road projects, including rehabilitation and extension of the Tema Motorway.
Presenting the 2022 Mid-Year Budget Review in Parliament on yesterday, July 25, 2022, Ofori-Atta said the projects, upon completion, will be tolled. “All new roads of this nature will be tolled,” he stated.
“The completed road will be tolled to recover the whole life cost of the completed infrastructure, as well as, pay lenders and provide a return for equity investors”.
“The Government of Ghana shall provide funding through GIIF to take equity in the Special Purpose Vehicle to be created by GIIF for the project,” he mentioned.
According to him, despite a cancelation of road tolls, government will toll all new roads constructed under such concession agreements.
Speaking on the contract drawn so far, the Minister said a draft concession agreement between GIIF and Ministry of Roads and Transport is currently under review by all parties, including the Office of the Attorney-General and Ministry of Finance.
“When completed, the concession agreement is expected to be approved by the PPP Committee, Cabinet and Parliament,” he continued.
On November 17, 2021, government revealed motorists who ply tolled roads across the country, will no longer be required to pay tolls.
“Government has abolished all tolls on public roads and bridges. This takes effect immediately the Budget is approved,” Ken Ofori-Atta said in the 2022 budget to Parliament.
NABCO Ends
Meanwhile, Ofori-Atta also revealed the Nation Builders Corps (NABCO) programme, which has absorbed thousands of unemployed youths across the country, is expected to end on September 1, 2022.
According to the Minister, government’s policy is to support dynamic young entrepreneurs access training and funds to build their businesses.
“Mr Speaker, our iconic Nation Builders Corps (NABCO) programme, which was initially to run for three years and extended for an additional year, will be completed by 1 September, 2022. The Programme- which engaged a 100,000 young graduates, has prepared thousands of them for the world of work. So far, we have invested approximately GH¢2.2 billion.”
He added: “As they exit, the current cohort on the programme are encouraged to take advantage of the YouStart initiative and other existing programmes, in our drive to build an Entrepreneurial Nation.”
“Government’s policy is to support dynamic young entrepreneurs access training and funds to build their businesses and become a significant pool of job-providers for their fellow young people,” Ofori-Atta concluded.
Source: Anchorghana
