The private sector of the country’s economy is set to finance the construction of the fourth Mainland Bridge at a cost of N220 Billion. This much was disclosed by the Commissioner for Economic Planning and Budget, Lagos State, Mr. Ben Akabueze, at the 2013 Seminar/Luncheon of the Financial Services Group of the Lagos Chamber Of Commerce and Industry, LCCI.
Akabueze said the federal and states government would not be financing the 4th Mainland Bridge as private sector investors have made plans to invest N220 Billion in the construction of the bridge. Akabueze noted that the state requires a much larger budget than it currently operates, adding that inadequate revenues constitute the principal impediment to achieving a larger budget.
According to him, investment in infrastructure simultaneously tackles a number of challenges such as job creation, poverty alleviation, lower cost of operations for manufacturing and commercial enterprises.