Cameroon-Nigeria border link bridge will gulp $47 million -Fashola

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The Nigerian Government on Wednesday approved the construction of the Cameroon-Nigeria border link bridge as part of its efforts to strengthen the bilateral ties between the two countries.

The Minister of Power, Works and Housing, Babatunde Fashola, who briefed State House Correspondents shortly after the meeting of the Federal Executive Council, FEC, presided by Acting President Yemi Osinbajo, said the construction would gulp $38 million, while $9 million would be for consultancy.

“We presented a memo to construct the Cameroon-Nigeria border link bridge, at Ikot Efiom under the African Development Bank support, for improving relationship between Cameroon and Nigeria post the ICJ judgment over Bakassi; and council approved that bridge.

“It’s part of the link road between Enugu -Abakaliki way which is already completed and part of the larger Lagos-Mumbasa Highway.

“$38 million is for the construction contract and $9 million for the consultancy and this was done under ADB procurement guidelines,” Mr. Fashola said.

The Minister, who was flanked by the Minister of Information, Lai Mohammed, and his counterpart in the Environment, Amina Mohammed, said the council also approved the construction of Kaduna-Eastern bypass highway at the cost of N32 billion.

“We also presented a memo for the resuscitation and completion of the Kaduna Eastern bypass highway, which was started in 2002 and was initially planned to have been completed within three years; but 15 years after, it remains uncompleted.

“Council also approved this, and it is a 50 kilometre highway and dual carriage way with nine bridges over rivers and rail crossings there.

“The project was first awarded in 2002 at N16 billion, we have had to get approval for N22 billion verbatim and so that takes that project cost now to N32 billion.

“The contractor was paid N5.5 billion in 2002; if we had paid the contractor N11 billion then when exchange rate was N109 it would have cost us $96 million. If you multiply $96 million today even at official rate of N305 is now N29 billion,” he said.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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