Fourth Mainland Bridge: Lagos to unveil preferred bidder in December

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Fourth Mainland Bridge: Lagos to unveil preferred bidder in December

Expects $3b Private Funding

Lagos State Government has revealed that it is expecting about $3b private sector funding to be invested in the Fourth Mainland Bridge, as the preferred bidder for the project would be announced before year-end.

The Special Adviser to the Governor on Public-Private Partnerships (PPP), Mr. Ope George, said this, yesterday, during a press briefing on the activities of his agency, maintaining that the guiding philosophy for every PPP projects was for the residents to get value for their money. He said the cost of its PPP project sometimes fluctuated because of the unstable monetary exchange.

According to him, plans were in top gear to draw up the proposal for funding the Lekki Airport. He also disclosed that the projection was to have the airport handle, at least, five million passengers yearly.

He said the “state is hopeful of starting the development of the Lekki Airport next year,” adding that when the airport is completed it would take off a lot of the burden of the Muritala Muhammed Airport. He said this is aside the airport would provide an alternative to many residents living on the Lekki-Epe corridor.

George said the state government would keep improving on its PPP projects to ensure that the state and its residents continue to get value for money invested by the state for such projects and the residents for money paid for such services.