Private Sector to Rally N220Bn for 4th Mainland Bridge

Lagos state government is to partner with the private sector in the construction of the 4th mainland bridge, the 26-kilometre infrastructure designed to link Ikorodu to the state’s economic hub in Eti-Osa Local Government Area.

The bridge which will gulp N220 billion will complete a transport ring around the city, and facilitate the rapid expansion of the eastern corridor of Lagos state.

Ben Akabueze, commissioner for Economic Planning and Budget, Lagos State, said the federal or the state government would not be financing the 4th Mainland Bridge as private sector investors have made plans to invest in the construction of the bridge.

Akabueze who spoke at the 2013 Seminar/Luncheon of the Financial Services Group of the Lagos Chamber of Commerce and Industry (LCCI) noted that the state requires a much larger budget than it currently operates.

He stated that inadequate revenues constitute the principal impediment to achieving a  larger budget.

The 4th Mainland bridge will introduce a new feature involving an underneath pedestrian deck complete with shops, restaurants, bars etc. 

This will in effect create a completely new community in its wake, in a unique and controlled convergence of the characteristic Lagos hustle and bustle of road transit, selling and buying, social interaction to foster faster economic growth.
Lagos state government is to partner with the private sector in the construction of the 4th mainland bridge, the 26-kilometre infrastructure designed to link Ikorodu to the state’s economic hub in Eti-Osa Local Government Area.
The bridge which will gulp N220 billion will complete a transport ring around the city, and facilitate the rapid expansion of the eastern corridor of Lagos state.
Ben Akabueze, commissioner for Economic Planning and Budget, Lagos State, said the federal or the state government would not be financing the 4th Mainland Bridge as private sector investors have made plans to invest in the construction of the bridge.
Akabueze who spoke at the 2013 Seminar/Luncheon of the Financial Services Group of the Lagos Chamber of Commerce and Industry (LCCI) noted that the state requires a much larger budget than it currently operates.
He stated that inadequate revenues constitute the principal impediment to achieving a  larger budget.
The 4th Mainland bridge will introduce a new feature involving an underneath pedestrian deck complete with shops, restaurants, bars etc.
This will in effect create a completely new community in its wake, in a unique and controlled convergence of the characteristic Lagos hustle and bustle of road transit, selling and buying, social interaction to foster faster economic growth.
- See more at: http://nigeriacommunicationsweek.com.ng/news/private-sector-to-rally-n220bn-for-4th-mainland-bridge#sthash.hxoCy1YY.dpuf
Lagos state government is to partner with the private sector in the construction of the 4th mainland bridge, the 26-kilometre infrastructure designed to link Ikorodu to the state’s economic hub in Eti-Osa Local Government Area.
The bridge which will gulp N220 billion will complete a transport ring around the city, and facilitate the rapid expansion of the eastern corridor of Lagos state.
Ben Akabueze, commissioner for Economic Planning and Budget, Lagos State, said the federal or the state government would not be financing the 4th Mainland Bridge as private sector investors have made plans to invest in the construction of the bridge.
Akabueze who spoke at the 2013 Seminar/Luncheon of the Financial Services Group of the Lagos Chamber of Commerce and Industry (LCCI) noted that the state requires a much larger budget than it currently operates.
He stated that inadequate revenues constitute the principal impediment to achieving a  larger budget.
The 4th Mainland bridge will introduce a new feature involving an underneath pedestrian deck complete with shops, restaurants, bars etc.
This will in effect create a completely new community in its wake, in a unique and controlled convergence of the characteristic Lagos hustle and bustle of road transit, selling and buying, social interaction to foster faster economic growth.
- See more at: http://nigeriacommunicationsweek.com.ng/news/private-sector-to-rally-n220bn-for-4th-mainland-bridge#sthash.hxoCy1YY.dpuf

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