{"id":7771,"date":"2016-05-31T08:55:05","date_gmt":"2016-05-31T07:55:05","guid":{"rendered":"http:\/\/nationaltimes.com.ng\/?p=138"},"modified":"2016-05-31T08:55:05","modified_gmt":"2016-05-31T07:55:05","slug":"lagos-signs-n844bn-mou-on-4th-mainland-bridge","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/lagos-signs-n844bn-mou-on-4th-mainland-bridge\/","title":{"rendered":"Lagos signs N844bn MoU on 4th Mainland bridge"},"content":{"rendered":"

…38km Bridge To Be Completed In Three Years Without Federal Funding- Ambode<\/p>\n

In what is set to become a major milestone achievement in its 50 years\u00a0of existence, the Lagos State Government on Wednesday signed a\u00a0Memorandum of Understanding (MoU) to kick-start the construction of\u00a0the 38km 4th Mainland Bridge, expected to bring a 14-year old dream to\u00a0reality.<\/p>\n

The Bridge, which is geared towards economic growth in the State, is\u00a0expected to gulp N844billion in a Public Private Partnership (PPP)\u00a0initiative and would be delivered in three years.<\/p>\n

Speaking at the signing of the MoU held at the Banquet Hall, Lagos\u00a0House, Ikeja, State Governor, Mr. Akinwunmi Ambode, said that the need\u00a0for the bridge had become imperative following the phenomenal growth\u00a0of the State with a population of over 21 million people, which has in\u00a0turn increased commercial activities and traffic gridlock.<\/p>\n

\u201cThis has made it imperative for us to have a 4th Mainland Bridge that\u00a0will serve as an alternative route to the Eastern axis and decongest\u00a0traffic in the State.<\/p>\n

\u201cMore importantly this bridge will provide the required transportation\u00a0compliment to the rapidly growing industrial activities on the Eti-Osa\u00a0– Lekki – Epe corridor of the State,\u201d he said.<\/p>\n

He said the proposed alignment of the Bridge will pass through Lekki,\u00a0Langbasa and Baiyeiku towns along the shoreline of the Lagos Lagoon\u00a0estuaries, further running through Igbogbo River Basin and crossing\u00a0the Lagos Lagoon estuaries to Itamaga Area in Ikorodu.<\/p>\n

The Governor said the alignment will also cross through the Itoikin\u00a0road and the Ikorodu – Sagamu Road to connect Isawo inward Lagos\u00a0Ibadan Expressway at Ojodu Berger axis.<\/p>\n

He said the Bridge would be made up of eight interchanges to\u00a0facilitate effective interconnectivity between different parts of the\u00a0State.<\/p>\n

\u201cThis structure will be a Four-lane dual carriageway with each\u00a0comprising three lanes and two metres hard shoulder on each side. The\u00a0bridge will be constructed to have a generous median to allow for both\u00a0future carriageway expansion and light rail facility. There is no\u00a0gainsaying the fact that huge benefits will be derived from this\u00a0project but most importantly, make life more comfortable for\u00a0Lagosians,\u201d he said.<\/p>\n

According to Governor Ambode, the Bridge which would be a PPP\u00a0initiative is a testimony to the confidence the partners in the\u00a0project have in the State Government and the Nigerian economy in\u00a0general.<\/p>

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Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

Expressing confidence that the project would be delivered on a Win-Win\u00a0framework for all investors, the Governor said for the first time in\u00a0the history of the State, the Government was embarking on the\u00a0construction of a long-span bridge and expressway without Federal\u00a0funding as the project is to be solely funded by the private sector.<\/p>\n

\u201cI am delighted that this project which has been on the drawing board\u00a0for quite some time is now set to become a reality. This again, is the\u00a0Continuity with improvement which we promised Lagosians.<\/p>\n

\u201cWe have started the process with the signing of this MOU which is an\u00a0expression of the commitment of major stakeholders including the\u00a0government and the consortium of consultants and investors to the\u00a0delivery of the project within the scheduled time frame,\u201d the Governor\u00a0said.<\/p>\n

Governor Ambode also reassured Lagosians that his administration would\u00a0remain committed to improving the State with world class\u00a0transportation system as a vital component, which according to him is\u00a0a key requirement for the sustenance of economic growth in the State.<\/p>\n

The Bridge, among others would accommodate cyclists and pedestrians and feature two service areas as well as additional pedestrian\u00a0crossing.<\/p>\n

The Bridge would also accommodate three Toll Plazas which are still\u00a0being tested from financial point of view and it would serve as a\u00a0major boost to the actualisation of the Lekki Master Plan.<\/p>\n

The project is to be financed by Africa Finance Corporation, Access\u00a0Bank and other private investors who have already signified intention\u00a0to be part of the construction, while Visible Assets Limited would be\u00a0the coordinating firm.<\/p>\n

In his remarks, Executive Chairman of Visible Assets Limited, Mr.\u00a0Idowu Iluyomade, said the project would go a long way to reduce\u00a0traffic gridlock in the State and would provide job opportunities for\u00a0Lagosians.<\/p>\n

He said aside improving the quality of life of the people, the Bridge\u00a0would also be a big asset that would be handed to the Lagos State\u00a0Government at the end of the concession, assuring that it would be\u00a0delivered on schedule.<\/p>\n

Earlier, Commissioner for Works and Infrastructure, Engr. Ganiyu\u00a0Johnson said that the Bridge when completed would utilise\u00a0state-of-the-art tolling system that will ensure free flow of traffic.<\/p>\n","protected":false},"excerpt":{"rendered":"

…38km Bridge To Be Completed In Three Years Without Federal Funding- Ambode In what is set to become a major milestone achievement in its 50 years\u00a0of existence, the Lagos State Government on Wednesday signed a\u00a0Memorandum of Understanding (MoU) to kick-start the construction of\u00a0the 38km 4th Mainland Bridge, expected to bring a 14-year old dream to\u00a0reality. …<\/p>\n","protected":false},"author":11,"featured_media":139,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[17],"tags":[34,43,47,55],"coauthors":[2392,2393],"class_list":["post-7771","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-news","tag-4th-mainland-bridge","tag-featured","tag-lagos","tag-traffic"],"yoast_head":"\nLagos signs N844bn MoU on 4th Mainland bridge - 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