$20 million approved for Lagos PPP
According to reports, the Minister of Works, Power and Housing, Babatunde Fashola, said a decision has been taken to provide a long term solution for the reconstruction of the road from Apapa to the toll gate on Lagos-Ibadan expressway in Lagos state.
“The Ministry of Power, Works and Housing secured approval for the reconstruction of the Creek Road Tincan Island-Beach Land right through to Oworoshoki to the toll gate end of the Lagos-Ibadan expressway, for the full reconstruction of that road.
“That road was intended to evacuate cargo out of Lagos without running through the spine of the city.
“The road is now in some state of disrepair and Council has approved its reconstruction at the cost of N72.9 billion.”
The work will be done using a PPP model, with Dangote Group acting as the construction company for the project. According to the minister, the work will be done using a Public-Private Partnership PPP model.
Apparently the cost of the project will be recovered "through the funding credit tax policy of government."
Once constructed, the road will have 10 lanes (five on each side). The project will also include provision of drainage and rehabilitation of some of the bridges and interchanges.
“First, it will be done through PPP model. The constructing company will be the Dangote group. It will be financing that construction to the tune of N72.9 billion as certified by PPP. Another instructive thing to note is that this is the first full reconstruction of that road since it was constructed at about 1975.
“All previous efforts had been to repair damaged sections. So, it is going all the way to reconstruct the road.
“The third thing to note is that the entire construction is that it involves procurement of 27.8 kilometres made up of 10 lanes – five lanes on both sides – three on the main carriage way, two on service lanes.
Picture credit: guardian.ng