Minister of Power, Works and Housing, Babatunde Fashola, says the Federal Executive Council (FEC) has approved the continuation of work on the second Niger bridge.
Speaking with journalists after the FEC meeting on Wednesday, Fashola emphasised the importance of the bridge in connecting the west and eastern parts of the country.
“The bridge is meant to give relief to the existing Niger Bridge and improve connectivity between the west and the east.
“The project was conceived first as a PPP with government financing but negotiations had not been concluded and it is important to continue to work there.”
Fashola said a business schedule had been approved that would enable private investors to come in to work on the bridge.
He also added that the council approved emergency repair works of Tambuwawa bridge between Kaduna and Kano.
Also speaking with journalists, Minister of Finance, Kemi Adeosun, said that the executive asked for virement from the National Assembly to be able to pay staff of government agencies who were yet to receive their November salaries.
The Managing Director, Nigerian Sovereign Investment Authority (NSIA) and operator of the Nigerian Sovereign Wealth Fund (SWF), Uche Orji, had in April said the process for the construction of the Second Niger Bridge was on course following the signing of the concession agreement.
Mr. Orji noted that having successfully completed Early Works 111 (EW3) of the project in January 2016, coupled with about N17 billion allocation for the project in the budget, engagements towards facilitating financial close had been given further impetus.
He had added that once the concession agreement and supporting documents are executed, the project was expected to move to a financial close as the concession agreement for the Public-Private Partnership (PPP) project was expected to be signed in the second half of 2016.