Sunday, October 24, 2021

    4th Mainland Bridge to gulp $2.5bn now —Lagos govt

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    Naija247news Editorial Team
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    ….Says preferred bidder emerges Oct

    By Olasunkanmi Akoni

    Lagos State government said, yesterday, that construction of the proposed 4th Mainland Bridge is estimated to cost $2.5 billion.

    The state government had, in September 2020, announced an estimation of $2.2 billion for the construction.

    The 4th Mainland Bridge is a proposed 38-kilometer long bridge initiative by the Lagos State government, connecting Lagos Island by way of Lekki, Langbasa and Baiyeku towns, and across Lagos Lagoon to Itamaga in Ikorodu. On completion of the project, it is expected to become the longest bridge in Africa.

    Director-General, Office of Public-Private Partnership, PPP, Lagos State, Mr. Ope George, stated this during the ongoing ministerial briefing to commemorate the second anniversary of the Babajide Sanwo-Olu-led administration in office, in Alausa, Ikeja.

    George said: “The preferred bidder out of the six under-listed bidders of the proposed $2.5 billion transaction worth bridge is expected to be determined by October, this year.

    “The project will be funded under Public-Private Partnership, PPP, and is presently undergoing technical processes to eliminate every glitch.

    “The State is at a critical point where glitches have been identified and same are been addressed to finalise processes towards the commencement of the $2.5 billion transactions worth project.”

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