2nd Niger Bridge: Hope dims on 2017 com

The hope of Nigerians using the Second
Niger Bridge in 2017 may be dashed as harsh
economic environment has impacted
negatively on the completion date indications
have emerged .
Managing Director of the Nigerian Sovereign
Investment  Authority (NSIA),  Mr Uche Orji,
revealed that early works (EW3) have
commenced as part of the preliminary
construction activities on  project site.
In view of the apparent economic realities,
Orji, however, could not admit the shift in
completion date, but said: “If there is any
reason where there is a delay, I will be the
one to tell you.  But, at the moment, I will not
say that yet. But, we continue to experience
delays. For any reason we have not been able
to get the constitutional agreement signed on
time.

The object is to get it signed on time so that
we can get to the financial close as soon as
possible. By the second quarter or third
quarter of this year, I should be able to tell
you. But for the moment we are sticking to
the date we have announced,” he said.
Giving the analysis of the expenditure so far
made on the project, Orji said NSIA has so far
spent $2.2 million on the project while $242
million was spent on due diligence  and $1.96
million spent to get the environment work
done together with the financial muddling
work, legal and contract work, construction
contract and concessional agreement.
The  Second Niger Bridge and adjacent roads
will be 11.9 kilometres in length.  The project
is structured as a Public Private Partnership
(PPP) and will be constructed and operated
on a Design, Build, Finance, Operate and
Transfer (DBFOT) basis. When completed, the
bridge and adjacent roads will have six lanes
with three in each direction.