By Moses Adeniyi
Successful bidder of the proposed $2.5 billion transaction worth Lagos fourth mainland bridge is expected to be determined by October in the 3rd quarter of Y2021; Nigerian NewsDirect have gathered.
Report gathered revealed that the project which on completion is expected to be the longest bridge in Africa, is to be funded under Public Private Partnership (PPP) and is presently undergoing technical processes to eliminate every glitch.
According to the Director General, Office of Public Private Partnership (PPP), Lagos State, Mr. Ope George, during the ongoing Ministerial Briefing at the State Capital, Ikeja, to commemorate the second year of the Governor Babajide Sanwo-Olu led Administration in office, the project is currently being contested among six bidders.
He said the State is at a critical point where glitches have been identified and same were been addressed to finalise processes towards the commencement of the $2.5 billion transaction worth project.
He mentioned that the State will continue to ensure friendly environment for private sector engagement to thrive in partnership with the Government in efforts towards driving development courses in the State.
According to report gathered on PPP projects sponsored within the period under review in the housing sector, one of the iconic projects funded under PPP arrangements include the Ilubirin Estate which is a public foreshore housing project being built on reclaimed land in Ikoyi Island, Lagos, at the the foot of the third mainland bridge, facing the Lagos Lagoon waterfront.
Also on housing, are the development of luxury apartments at GRA Ikeja, the State Capital, with multipurpose apartments on 6,2894sq.m within the Old Secretariat; FBT Coral Estate Limited, a PPP arrangement to reclaim a 775,120Sqm of land for the proposed mixed used development; provisions of cloud infrastructure and web portal for online gathering and registration of real estate agents and transaction — landlord technologies — to regulate the Real Estate sector.
In addition is the Ultra-modern Hostel facilities in the Lagos State University which is a PPP arrangement to Design, Build Finance, Operate, Maintain and Transfer Construction of 16 Blocks of 94 rooms each with 376 beds per block.According to report gathered, the investment value for the project is about N11billion.
Work projects designed under PPP arrangement for the period under review include the fourth mainland bridge which is a proposed 38km long bridge initiative by the Lagos State Government, connecting Lagos Island by way of Lekki, Langbasa, and Baiyeku towns and across Lagos Lagoon to Itamaga in Ikorodu part. On completion the project is expected to become the longest bridge in Africa.
On works also, is the proposed ring road which is expected to provide alternative traffic resources from Lekki to Ikorodu, Ikeja to Ajah, relieving the 3rd Mainland Bridge of its overstretched capacity. It is a 2*4 lane carriageway cross sectional road with permission for BRT lane and future road construction.
Also on work is the crescent island toll road project for the reclamation and development of 150 hectares on a proposed 40-year Design, Finance, Build, Operate, and Maintain (DBFOM) arrangement for a toll road project and a link bridge connecting the Mainland to the Proposed Crescent Island.
On the power sector is the Imota Power Project which is an independent Power Project for the only Rice Mill currently under construction by the State Government.
It was also gathered that the State Government is under partnership arrangement, working on a rendeavour to develop 1,000 hall in the NW quadrant of the Lekki Free Zone into an industrial and logistics focused mixed-use project.
Also, is the Alaro City which is adjacent to the future Lagos international Airport and close to the region’s largest deep sea and major Nigerian and International companies.
Projects on traffic management under PPP arrangement include JJT Car Park designed to develop a high-level car park arcade at Alausa Secretariat Complex; truck traffic management solution infrastructures; Artezia traffic violation management system, among others.
Health projects include the Lagos State Medical Park for development of a medical village on a 2.1 hectares of land in Ikoyi; development of a Smart Health Information Platform to connect the entire health ecosystem in Lagos State; Joint Venture Pharmacy and equipping Maternal and Child Centres (MCCs) in the State, including those at Ajah, Alimosho and Eti-Osa.
Other PPP sponsored projects includes the Lagos Bike Share Scheme; outsourcing proposal for the operation and maintenance of the State owned Tiguar S-410 Unmanned Aerial Vehicles (UAV); establishment of Lagos Aquaculture Centre of Excellence to set up fish farms in clusters to anchor aquaculture growth in Lagos; Eko Token (Lagos Cash Token UCSR); Waltzing Water Park, Iganmu Lagos; JK Randle Centre for remembrance and reconnection for Yorubas and Africans people for a vital injection of tourism to Lagos, among others