Residents in Ikorodu, Epe and other neighbouring communities have a reason to worry following the recent announcement by the Akinwunmi Ambode led Lagos State Government (LASG) on the cancelation of the proposed fourth Mainland bridge.
You would recall that the news on the announcement to proceed on construction of the fourth Mainland bridge was made public in May 2016.
With the anticipation by residents that the bridge would help ease traffic gridlock within the State, the LASG has announced the termination of the Memorandum of Understanding (MoU) it entered into with a consortium to construct the bridge.
The MoU which was signed barely a year ago indicated that the project was to be financed by Africa Finance Corporation, Access Bank, and other private investors while Visible Assets Limited would coordinate the process.
The cancellation was announced by Governor Akinwunmi Ambode through the Commissioner for Waterfront Infrastructure Development, Mr. Adebowale Akinsanya. Akinsanya disclosed that the government is seeking for other investors to show interest in the contract.
According to Akinsanya, the contract was terminated because of the slow pace of work. “Due to the slow pace of work, the contract was terminated. We are now looking for many investors, though interest is very high,” he said.
He added that “the state government has started receiving proposals. We have some investors from South Korea, Europe, and the United States, among others. What we are doing now is vetting the proposals. We do not want to waste any further time.”
The Commissioner further stressed that the investors would be named very soon adding that the government will enter into a concession agreement with appropriate investors that would deliver the project