Business News

Planet Projects, builder of Oshodi interchange, secures N51 billion contract for Abuja Bus Terminals 


Planet Projects Nigeria Limited, the firm behind the design and construction of the Oshodi Transport Interchange in Lagos State, has secured N51 billion contract to build bus terminals and other transport facilities in Abuja, the capital city.  

The Federal Executive Council (FEC) approved this contract during its meeting on Tuesday, May 14, 2024.  

The announcement was made by Bayo Onanuga, the Special Adviser on Information and Strategy to President Bola Tinubu, via an official X (formerly Twitter) post that summarized the policies and projects endorsed during the FEC sessions held on Monday and Tuesday.  

Onanuga’s post specified that the Federal Government expects Planet Projects Nigeria Limited to complete the construction of the terminals, which are to be located at Kugbo, Abuja Central Business District, and Mabushi, within 15 months of the contract award.  

Nigeria’s budgeted N9.9 trillion for capital expenditure in 2023 as part of a N28.7 trillion spend for the year.  

The World Bank has projected that Nigeria must invest $3 trillion to reduce its infrastructure deficit. Experts estimate that Nigeria’s infrastructure deficit costs between $100 billion and $150 billion annually over the next 30 years. 

Planet Projects Nigeria Limited, which transitioned from a transport consulting firm to a leading indigenous transport solutions company, has completed major engineering projects associated with transportation across Nigeria.  

Among the notable projects is the Oshodi Transport Interchange, which features three multi-storey bus terminals complete with facilities such as waiting areas, loading bays, ticketing stands, drivers’ lounges, parking areas, conveniences, surveillance towers, and pedestrian bridges linking the terminals. 

Another significant achievement is the Ikeja Bus Terminal, commissioned by then-President Muhammadu Buhari on March 29, 2018. This facility is equipped with a robust Intelligent Transport System (ITS) and Operations and Control Centres (OCCs), enhancing the dissemination of passenger information for improved service efficiency. 

Additionally, the firm has completed other transport-related constructions like the Lokoja mega terminal and Ikeja bus depot, as well as various projects in Delta, Rivers, Ondo, and Oyo states. 

Recently, the Enugu State Government awarded Planet Projects Nigeria Limited the contract to build mega bus terminals across the state in locations such as Holy Ghost (Enugu Central area), Gariki, Abakpa, and Nsukka, which will serve both interstate and intra-city transportation needs.