SAN FRANCISCO, May 25, (THEWILL) – The Lagos State Government, on Wednesday, signed a Memorandum of Understanding (MoU) with a consortium of private investors to signal the commencement of the construction of the 38km 4th Mainland Bridge.
The bridge, which will cost about N844bn, will be constructed under the Build, Own and Transfer (BOT), concession of 40 years under a Public Private Partnership (PPP) initiative of the State Government.
According to Akinwunmi Ambode, Governor, Lagos state, the bridge would accommodate cyclists and pedestrians and feature two service areas as well as additional pedestrian crossing.
Ambode, who spoke at the signing of the MoU held at the Banquet Hall, Lagos House, Ikeja, added that the bridge would also accommodate three Toll Plazas which are still being tested from financial point of view which would serve as a major boost to the actualisation of the Lekki Master Plan.
He revealed that the proposed alignment of the Bridge will pass through Lekki, Langbasa and Baiyeiku towns along the shoreline of the Lagos Lagoon estuaries, further running through Igbogbo River Basin and crossing the Lagos Lagoon estuaries to Itamaga Area in Ikorodu.
He declared that the need for the bridge had become imperative following the phenomenal growth of the State with a population of over 21 million people, which has in turn increased commercial activities and traffic gridlock across the metropolis.
“This has made it imperative for us to have a 4th Mainland Bridge that will serve as an alternative route to the Eastern axis and decongest traffic in the State,” he said.
“More importantly this bridge will provide the required transportation compliment to the rapidly growing industrial activities on the Eti-Osa – Lekki – Epe corridor of the State.
“This structure will be a four-lane dual carriageway with each comprising three lanes and two metres hard shoulder on each side. The bridge will be constructed to have a generous median to allow for both future carriageway expansion and light rail facility.
“There is no gainsaying the fact that huge benefits will be derived from this project but most importantly, make life more comfortable for Lagosians.
“I am delighted that this project which has been on the drawing board for quite some time is now set to become a reality. This again, is the continuity with improvement which we promised Lagosians.
“We have started the process with the signing of this MoU which is an expression of the commitment of major stakeholders including the government and the consortium of consultants and investors to the delivery of the project within the scheduled time frame.”
The consortiums to handle different stages of the mega project are Visible Asset Limited, Julius Berger Nigeria Plc, Hi-tech Construction Limited, J.P. Morgan, Eldorado Nigeria Limited, Nigerian Westminster Dredging and Marine, Africa Finance Corporation, AFC and Access Bank.
Story by David Oputah
