NSIA spends $2.2m on second Niger Bridge, says MD

Uche Orji

The Nigeria Sovereign Investment Authority (NSIA) has spent $2.21million (about N439.78million) towards the construction of the Second Niger Bridge, the Managing Director/Chief Executive Officer of the agency, Uche Orji, has said.

Orji, who gave an update at a media briefing in Lagos, said the Agency, acting through its wholly owned subsidiary, NSIA Motorways Investment Company (NMIC), is collaborating with the Federal Ministry of Works and Julius Berger Investments (JBI) as joint sponsors on the financing, development and construction of the Project.

The bridge which is estimated to gulp $700million by 2012 estimates, is billed for completion in 48 months, he said.

The 11.9km length bridge, Uche pointed out, is structured as a Public Private Partnership (PPP) and would be constructed and operated on a Design, Build, Finance, Operate and Transfer (DBFOT) basis.

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