This declaration was made on Friday, and the project was given a total financial allocation of N500 million in the planned 2024 budget.
The National Assembly is still to formally approve the proposed document regarding the construction activities.
According to the same document, if lawmakers do not change the amount, N500 million will also be allocated for the Lagos-Port Harcourt coastal route in addition to the roadway designated ERGP12211937.
The proposed 470-kilometer Greenfield Superhighway between Abuja and Lagos is expected to be finished by 2027, according to a statement made in September by Works Minister Senator David Umahi.
The road would last for at least 100 years, according to the previous governor of Ebonyi State.
The Minister further stated that a private sector partnership will construct the highway at no expense to the federal government, passing through the states of Lagos, Oyo, Kogi, Ekiti, Ogun, Niger, Kwara, and the Federal Capital Territory (FCT).
Umahi emphasized that tolls will be placed on the superhighway to allow investors to recover their investment.
Additionally, he had mentioned that there were plans to turn the road into an industrial and business corridor that would run alongside housing estates, hotels, and factories, among other establishments.
He also threatened to impose a $10 million fee on the consortium should it withdraw in an unreasonable manner. Nigerians currently take almost 14 hours to go from Abuja to Lagos.
However, Umahi has stated that commuters won't have to pay as much to travel that route going forward.
When the road opens in the ensuing four years, he predicted that people would spend fewer than five hours on it.