Following a promise made by the Lagos State Government last month, the Memorandum of Understanding (MoU) to kick-start the construction of the 38km 4th Mainland Bridge was signed on May 25th, 2016.
The 4th Mainland bridge will be completed through a Public Private Partnership (PPP) initiative and is expected to cost N844billion. It will be financed by Africa Finance Corporation, Access Bank as well as other private investors who have already signified interest, while Visible Assets Limited will act as the coordinating firm. The new bridge will accommodate three toll plazas, which are still being tested for financial viability. Completion is expected in three years (±2019/2020, depending on when construction starts). Read More