Jonathan performs Groundbreaking ceremony for 2nd Niger Bridge
Nigerian President, Goodluck Jonathan has performed the groundbreaking ceremony for the second Niger bridge. The bridge has become a subject of discuss for most Nigerians of South eastern extraction. The bridge was part of the campaign promises by the President in 2011 to the people just before the general election.
The President at the occasion said the Bridge represents a strategic national infrastructure, with great socio-economic prospects for the south east states and the entire People of Nigeria.
Speaking earlier, the Coordinating Minister and the Hon. Minister for Finance, Ngozi Okonjo-Iweala said the delay in the commencement of the bridge was to allow due diligence so that the bridge would be self sustaining. She said the Bridge will be financed by equity and debt.
The President who said he was excited about the bridged underscored the importance of the project.
“It is an important economic artery that will connect the great markets of Onitsha and Aba, as well as the industrial hub of Nnewi and beyond, to both the Northern and Southern parts of our country.”
He noted that the the Government is executing this project under a Public Private Partnership (PPP) arrangement for a concession period of 25 years, precisely, through a ‘Design, Build, Finance, Operate and Transfer (DBFOT)’ model.
“We are confident in the capacity and competence of the Concessionaire, Messrs Julius Berger-NSIA Consortium, to deliver on this project, at the construction cost of about N117 Billion Naira.”
He further noted that to facilitate timely delivery, the Federal Government has made a commitment to contribute 25% of the construction cost, in the sum of N30 Billion.
The bridge which is expected to be completed in forty eight months will go a long way in enhancing the economic activities of the zone.
