Mr Olawale Edun, the Minister of Finance, has stated that in addition to the Revenue generated internally, the funds required for vital projects will also be sourced from the savings obtained from the elimination of fuel subsidies. He asserts that the NNPC Ltd and Security forces have been tasked by the Federal Government to increase oil production and sales in order to prevent a handful of politicians from usurping the government’s rightful share, an objective made possible through the implementation of digitalization, computerization, and advanced technological systems.
The disclosure was made by the minister subsequent to conducting inspections on key infrastructures in Lagos, including the Third Mainland Bridge, Carter Bridge, Iddo Bridge, and Coastal Road. Dave Umahi, the Minister of Works, took charge of leading the team of engineers from the Federal Ministry of Works as they embarked on an inspection tour of the projects. Edun also asserted that the dedication of the Nigerian President Bola Ahmed Tinubu lies in procuring internal finances.
Advantages will emerge from forthcoming developments.
There was further emphasis that the restoration of the bridges and preservation of the deteriorated Marina Shoreline would be funded through a specific aim of achieving a 77 percent surge in internally generated revenue. The President is fully dedicated to kick-starting the funding process, and one of his focal points revolves around Infrastructure development, enhancing mobility, improving transportation systems, and optimizing Logistics networks. According to Edun, if Nigerians want to see the Economy flourish once more, they must focus on essential infrastructure like bridges and highways.
It is imperative for the country to uncover the necessary funds for these vital projects. He outlined that there had been a shift in the financial aspects of Nigeria, appending that there will be advantages emerging from certain forthcoming developments. He insists that there is a growing necessity to gather funds specifically for the purpose of addressing and rectifying the infrastructure, especially the bridges, which are in dire need of repair. During the inspection tour, Minister of Works, Dave Umahi expressed his concerns regarding the restoration of key components of the Third Mainland Bridge.
Contractor CCEEC has successfully reached 30% progress.
He pointed out that the bridge’s deck had merely been superficially patched up over the years, resulting in the formation of unwanted potholes. The bridge’s capacity was intended to accommodate a 20-inch layer of asphalt. With the President’s full approval of the extensive 11-kilometer bridge project, the next steps involve a complete overhaul: upgrading the lighting system, installing CCTV surveillance, and repainting the curbs. Presently, the contractor CCEEC has successfully reached 30% progress, informed the minister.
In the forthcoming month of April, he declared that the bridge’s restoration would be completed. Umahi expressed deep sorrow over the deflection of certain slabs on both the Third Mainland Bridge and the Carter Bridge in Lagos, simultaneously expressing concern over the declining conditions of the piers. Upon the ministry’s exploration beneath the bridges, their observations revealed a slight deflection in a few of the slab elements. However, there is no cause for concern as they assured Nigerians that appropriate measures will be taken to reinstate these slabs.
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Currently, Buildwell engineering is diligently crafting a design for this purpose. Julius Berger is currently conducting repairs on a few of the piers or columns that have shown signs of deterioration. The minister revealed that Julius Berger is anticipated to descend into the riverbed and explore the underwater realm to ascertain the current situation of the piers of the bridge. An extensive number of supporting columns for the bridge have experienced a significant loss in quality, elucidated the minister.