Lokoja-Shintaku Bridge: FG, Julius Berger explore alternate funding structure
Ani Bassey
In a move to actualize the construction of the Lokoja-Shintaku Bridge in Kogi state, the federal government and Julius Berger are exploring an alternative funding structure for the project.
This is part of the creative solutions to the financing gaps in road infrastructure development and the innovative perspective of thinking outside the box by the Renewed Hope administration.
This follows a meeting between the Minister of Works Engineer David Umahi and the representative of Julius Berger Plc and Business Development Strategist, Filipe Nuno Lopes.
The meeting also had development partners – Deutsche Bank represented by the Director Structured Trade & Export Finance Middle East & Africa, Humaya Harati. and the bank’s Chief Country Representative Nigeria, Andreas Voss at the Honourable Minister’s office.
The Honourable Minister, in a statement by Hon. Barr. Orji Uchenna Orji,
Special Adviser ( Media) to the Honourable Minister of Works expressed hope that with the immense financing capacity, relationships, and lengthy records of the firm in arranging financing for projects in the African continent, the project target will be accomplished.
He emphasized the need for the timeline for the procurement process to be streamlined so that construction of the project can start and be completed on a record time. He described the discussion as a credible path to the eventual financing of the project.
In his speech, the representative of Julius Berger Plc and team lead, Mr. Filipe, assured that with the certificate of no objection issued by the Bureau of Public Procurement to the single source procurement of the bridge from Julius Berger Plc, the Lokoja- Shintaku project would be moved forward.
The meeting was successful as it advanced discussions around project development and potential funding options.