LEKKI PEOPLE MAGAZINE

AMBODE SIGNS MOU FOR HISTORIC 4^TH MAILNLAND BRIDGE... see exclusive list of the Funders!

Gov Akinwunmi Ambode 

On the 25^th of May 2016, the ambitious government of Lagos State signed a memorandum of understanding with a group of investors, for the construction of a record breaking 4^th mainland bridge in the city of Lagos. The bridge will be 38 kilometers long and it will consume N844bn, fully funded by private investors and the                                                                                                            Lagos State government.

LEKKI PEOPLE magazine understands that the consortium which agreed to fund and construct the bridge at N844 billion comprise 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.

The signatories include the Chief Investment Officer, Africa Finance Corporation, Mr. Andrew Alli; Group Managing Director OF Access Bank, Mr. Herbert Wigwe and Executive Chairman, Visible Assets Limited, Mr. Idowu Iluyomade, Senior Country Officer, J.P. Morgan Nigeria, Mr. Tosin Adewuyi and Consultant, Advanced Engineering Consultants, Mr. Ger Horgan.

The 4^th Mainland bridge will be constructed under a build, operate and transfer (BOT) concession and the state’s public-private partnership programme for a period of 40 years.

The bridge will have a Four-lane dual carriageway with each comprising three lanes and two meters hard shoulder on each side. 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. 

While vehicle traffic flows on the bridge's upper deck ( which include lane for BRT buses), the lower deck facilitates the inevitable hustle and bustle of Lagos in a more conducive environment. Markets, kiosks, shops, bars, and restaurants will generate a new area of pedestrian convergence, fostering economic growth, social life, culture and interaction. The lower deck of the bridge will  also accommodate a light rail system, providing a secondary means of transportation on the pedestrian level.