Lagos govt plans development projects through PPP

The Special Adviser to the Governor on Public-Private Partnerships, Mr Ope George, has said Lagos State Government will ensure projects funded through Public Private Partnerships are profitable.

He said this during a press briefing on the activities of the agency.

“Lagos will continue to improve on its PPP projects to ensure that the state and its residents continue to get value for money invested by the state for such projects,” he said.

According to him, it was important that the residents should get value for money in the state’s PPP projects.

He also said that the State Government was expecting a rough estimate of between $2.5bn to 3bn of private sector funding to be invested for the fourth Mainland Bridge, with the preferred bidder for the project to be announced before year-end.

While speaking on costs of its projects, he said the cost of its PPP project sometimes fluctuates because of the unstable monetary exchange.

He also said plans were in progress to draw up the proposal for funding of the Lekki Airport.

The project, he added, would have an airport that would handle at least five million passengers yearly.

He said the state was hopeful of starting the development of the Lekki Airport in 2023, adding that when the airport is completed it would take off a lot of burden of the Muritala Muhammed Airport.

He said this was aside the airport would provide alternative to many residents living on the Lekki-Epe corridor.

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