Hamzat Says Lagos Fourth Mainland Bridge Will Be Built Through PPP

Lagos State Deputy Governor and All Progressives Congress governorship candidate, Obafemi Hamzat, has reaffirmed the state government’s commitment to building the Fourth Mainland Bridge through a public-private partnership (PPP).

Speaking on Lagos Television on Tuesday, Hamzat said the state could not fund the bridge and major rail projects simultaneously using its own resources. He explained that discussions were ongoing with prospective investors to secure funding for the bridge.

Investors From Several Countries Interested

Hamzat disclosed that the bridge had been designed and its cost assessed, while private-sector professionals had been engaged to support negotiations and other aspects of the project.

He said investors from Portugal, China and other locations had expressed interest, adding that the government was confident that partnerships could provide a workable financing model.

According to him, the state is avoiding excessive borrowing because of the financial pressure it could place on public resources, particularly with other major infrastructure projects underway.

Toll Payments Key to Investment

The deputy governor identified toll collection as a major consideration for potential investors, explaining that they would need a reliable way to recover their investments through revenue generated by the bridge.

He said concerns about road users’ reluctance to pay tolls had affected investor confidence, making it necessary for the government to provide traffic data and other information demonstrating the project’s viability.

Expected Impact on Lagos Traffic

The proposed Fourth Mainland Bridge is intended to improve connectivity across Lagos and provide an alternative route to reduce pressure on existing roads.

Hamzat maintained that a public-private partnership would allow the state to pursue the project while managing its finances and giving investors a potential return on their investment.