The federal government may have to single-handedly bear the burden of 2 hundred billion naira cost of the Second Niger Bridge, as the private sector investors originally penciled down for collaboration are pulling out of the deal.
PlusTV Africa gathered that the ministry of Power, Works and Housing, Federal Controller of Works and the Anambra State government may have reached an agreement on the new arrangement.
According to the ministry, the era of Public-Private Partnership of the ongoing second Niger bridge has ended.
It said the PPP model approach was no longer working as it slowed the progress of the project, hence the government’s decision to take up full responsibility of the project.
Spokesman for the minister, Hakeem Bello, said the government is now making budgetary provision for the project, insisting that the government has the funds needed to follow the project to the end.
It said Phases One to Three of the project, which were awarded as contracts, have been completed and works on Phase Four is ongoing.
He also said that the amount needed for the complete construction of the bridge is over N200bn and the project will also make provision for connections through approach roads, which will be connected to the bridge enroute Delta and Anambra states.
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