Lagos State Government has said the construction of the proposed 4th Mainland Bridge is estimated to cost over $2.5 billion.
Recall that the state government had said in September 2020 that the construction of the bridge would gulp at least $2.2 billion.
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 part.
The state government said the project is expected to be the longest bridge in Africa.
Ope George, the Director General, Office of Public-Private Partnership, Lagos state, revealed this at a ministerial briefing to acknowledge the second anniversary of Governor Babajide Sanwo Olu led Administration in the office.
According to George, “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.”
George, said the project is currently being contested among six bidders.
“The State is at a critical point where glitches have been identified and same were been addressed to finalize processes towards the commencement of the $2.5 billion transaction worth project.”
