Governor Akinwunmi Ambode of Lagos State on Wednesday signed a Memorandum of Understanding with a consortium of private investors to deliver the Fourth Mainland Bridge at a cost of N884 billion within three years.
Ambode said at the ceremony said that the increase in the state’s population and the expanded commercial activity had made it imperative to construct the bridge.
According to him, the bridge is to serve as an alternative route to the eastern axis and decongest traffic.
The governor said that the 38km bridge and expressway would be a four-lane dual carriageway with eight interchanges, while construction would start on five and the other three in the near future.
Ambode said that the proposed alignment would pass through Lekki, Langbasa and Baiyeiku towns along the shoreline of the Lagos lagoon estuaries.
He said it would further run through Igbogbo River Basin, crossing the Lagos Lagoon estuaries to Itamaga area in Ikorodu.
The governor said it would also cross the Itoikin road and the Ikorodu – Sagamu road to connect Isawo inward Lagos-Ibadan Expressway at Ojodu Berger axis.
Ambode said that the bridge would 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 Lagos people.
“I must not fail to mention that this PPP arrangement with our partners seated here today is a major testimony to the confidence they have in our administration and the Nigerian economy.
“We have learnt our lessons and we are confident that this project will be delivered on a Win-Win framework for all investors.
“This the first time the state is embarking on the construction of a long-span bridge and expressway without Federal Government funding.
“It is also the first time of having a project to be funded solely by the private sector,” he said.
Earlier, the Commissioner for Works and Infrastructure, Mr Ganiu Solomon, said the project would sustain the vision of Lagos becoming a world class economy and facilitate free flow of traffic.
Also, Senator Adeola Olamilekan, representing Lagos-West Senatorial District, lauded the state government and called for the cooperation of residents to enable Lagos achieve a mega-city status.
The project is under the Build-Own-Transfer (BOT) scheme.
