LAGOS State government on Wednesday signed a Memorandum of Understanding (MOU) on the construction of Lagos Fourth Mainland Bridge with a consortium of investors at a whooping cost of N844 billion.
The bridge, which will be the longest bridge in the world, costing a whooping sum of N844 billion is expected to be ready in three year’s time.
Governor Akinwunmi Ambode, while speaking at the event held at the Lagos House, Ikeja, said the formal signing of the MOU with the consortium, Visible Asset and Advanced Engineering Consultants as consulting Engineers who had shown interest in constructing the bridge via Public, Private Partnership (PPP) was a major step towards actualising the state government’s dream that had been in the pipeline in the past 14 years.
Available statistics on the project showed that initial cost of the project operational 2016-2021 was N790 billion, while the other operating costs, including structural pavement repair, overlay plus line and refurbish before hand back 2055-2061, five year refresh programme of work along the route and annual operating cost 2021 to 2061 have brought the total to N844billion.
According to Ambode, who was basking on the euphoria of the commencement of the project, said, “The state is recording another major milestone in its almost 50 years of existence. We have just signed a Memorandum of Understanding on the fourth Mainland Bridge. The 38km bridge and expressway will become the longest bridge and expressway anywhere when completed.
“The significance of this bridge will be fully appreciated if we can imagine Lagos of today without the third Mainland Bridge. Almost 30 years after the delivery of the third Mainland Bridge; the state has experienced phenomenal growth to become a megalopolis – a city-state with a population of over 21 million people. The increase in the state’s population and expanded commercial activity has led to frequent traffic congestion.
“This has made it imperative for us to have a fourth Mainland Bridge that will serve as an alternative route to the eastern axis and decongest traffic in the state.”
The governor explained that more importantly the bridge would provide the required transportation compliment to the rapidly growing industrial activities on the Eti-Osa – Lekki – Epe corridor of the state.
According to him, the proposed alignment passes 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.
“It then crosses the Itoikin road and the Ikorodu- Sagamu Road to connect Isawo inward Lagos Ibadan Expressway at Ojodu Berger axis. The bridge would be made up of eight interchanges to facilitate effective interconnectivity between different parts of the state.
“This structure will be a Four-lane dual carriageway with each comprising three lanes and two metres hard shoulder on each side. The bridge will 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 Lagosians,” Governor Ambode said.
Earlier, the Executive Chairman of Visible Assets Limited, Mr Idowu Iluyomade, said the project would go a long way to reduce traffic gridlock in the state and would provide job opportunities for Lagosians.
Iluyomade said aside improving the quality of life of the people; the bridge would also be a big asset that would be handed to the Lagos State government at the end of the concession, assuring that it would be delivered on schedule.