Just read now on NTA news scroll bar...that the Federal Government is set to commence the construction of the fourth mainland bridge in Lagos that shall connect Lekki and Ikorodu.

I think this is cheering news!!!

What is this nonsense about Federal Government? This a PPP project with between the LASG and investors.

By NAOMI UZOR
The private sector in the country is to finance the construction of the 4th mainland bridge with N220 billion.

This was disclosed by the Commissioner for Economic Planning and Budget, Lagos State, Mr. Ben Akabueze, at the 2013 Seminar/Luncheon of the Financial Services Group of the Lagos Chamber of Commerce and Industry, LCCI. Akabueze said the federal or states government would not be financing the 4th Mainland Bridge as private sector investors have made plans to invest N220 billion in the construction of the bridge.
Akabueze noted that the state requires a much larger budget than it currently operates, adding that inadequate revenues constitute the principal impediment to achieving a larger budget.

“Lagos State has consistently recorded good budgetary performance, more than any other state government in Nigeria. We have tried to make the people to own the budget, and make it work for them because effective budgetary systems and implementation have contributed significantly to socio-economic development in Lagos.”

According to him, investment in infrastructure simultaneously tackles a number of challenges such as job creation, poverty reduction, lower cost of operations for manufacturing and commercial enterprises.

“Empirically-proven correlation between investment in infrastructure and economic growth (a World bank study of 39 African countries covering 1990-2005 shows that if our infrastructure was developed to standard of Mauritius (best infrastructure in Africa) GDP growth would rise by about 2.5 percent per annum.

“Percentage allocated to sectors reflects government’s priorities and sustenance of past trend highest priority goes to Economic Affairs Sector. In line with the policy thrust of government, infrastructure, health and education sectors are being gradually notched up to meet global benchmarks.

- See more at: http://www.vanguardngr.com/2013/11/private-sector-finance-n220bn-4th-mainland-bridge/#sthash.yUJywjSl.dpuf

ikorodu land prices will skyrocket

I hope the project isn't gonna actually remain on NTA news scroll bar!!!

POLITHEIFCIAN.

PEOPLE STILL DECEIVING PEOPLE.

OGA O.

The utterly useless FG is trying to steal a Lagos State Government initiative - hysterical.

Nah, this has nothing to do with the FG and I'm tired of the noise about a non-achieving FG developing Lagos.

We've not seen any 4th Mainland but some people have started fighting over it already. Wonderful!

What is this nonsense about Federal Government? This a PPP project with between the LASG and investors.

As the LASG only constructs such things on newspapers, it would be heartening to have the Feds construct the road. The 10 lane Abuja Airport Expressway was mooted at the same time the LASG mooted the construction of the bridge. The Abuja Airport road is complete and the architects are still drawing this one in Fashola's office. Its time the Feds take over and make it a reality!

Fashola and the LASG are not capable of completing projects above 10 billion Naira. They've had 15 years to complete such projects but none except the Lekki Ikoyi link bridge has been completed. The Feds should take over!

shymexx: The utterly useless FG is trying to steal a Lagos State Government initiative - hysterical.

Nah, this has nothing to do with the FG and I'm tired of the noise about a non-achieving FG developing Lagos.

The article says it is NOT involving the FG and SG but private companies. Is that not so?

Sincere 9gerian: We've not seen any 4th Mainland but some people have started fighting over it already. Wonderful!

Are you preparing your lies?

How dare you try to take credit for a project you played no part in.

You honestly have ZERO shame and just don't give a bleep, huh?

Sloan:

The article says it is NOT involving the FG and SG but private companies. Is that not so?

No, it is being financed by the private sector and the project is being overseen by the SG.

LASG invited investors to build it because they could not support the N200 billion cost. Same as the Ikoyi Link Bridge.

The FG has done nothing.

Kairoseki77:

No, it is being financed by the private sector and the project is being overseen by the SG.

LASG invited investors to build it because they could not support the N200 billion cost. Same as the Ikoyi Link Bridge.

The FG has done nothing.

Was that not how you people kept telling us here that d FG had nothing to do with d Lekki Deep Seaport, UNTIL we read in d Newspapers that same FG gave Contract for d Port??

taharqa: Was that not how you people kept telling us here that d FG had nothing to do with d Lekki Deep Seaport, UNTIL we read in d Newspapers that same FG gave Contract for d Port??

I don't know anything about the Lekki Deep seaport, but you are probably lying again.

If this is true, then I'd say the Federal Government should concentrate on delivering the Second Niger Bridge to the South East and not bother about 4MB, at least for now.

Anyway, I don't take NTA serious.