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2nd Niger Bridge: N33.3bn released for implementation of project


The ongoing Niger Bridge project
By Sunny A. David, Onitsha
A total of N33.3billion has so far been released for the implementation of the second Niger Bridge project.
The Managing Director of the Nigerian Sovereign Investment Authority, Mr. Uche Orji, disclosed this shortly after inspecting the project.
Mr. Orji visited the site with the traditional ruler of Onitsha, Igwe Nnaemeka Achebe, who was accompanied by some members of his cabinet.
The project, which is being handled by Julius Berger Plc, was awarded in 2014, by the administration of former President Goodluck Jonathan.
The Second Niger Bridge project, which is estimated to gulp about N220billion, has been experiencing delays owing to various challenges which had affected its timely implementation.
Speaking on the development, Mr. Orji expressed optimism that the project, would not experience further delay saying that private sector funding for the project is being planned to be raised by 2020 through bond and equity.
Mr. Orji explained that already, a Presidential Infrastructure Development Fund to be managed by the Nigerian Sovereign Investment Authority had been set up for five critical road and power projects across the country.

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