The Federal Government and Julius Berger Plc have reached an agreement on alternative financing structures for the construction of the Lokoja-Shintaku Bridge in Kogi State.
The agreement was made during a meeting between Minister of Works David Umahi, Julius Berger representative Filipe Nuno Lopes, and development partners Deutsche Bank.
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According to a statement by the Minister’s special adviser on media, Barr. Orji Uchenna Orji, the agreement is part of the ministry’s efforts to bridge the gap in road infrastructure funding. The Minister expressed optimism that the project will be completed with Julius Berger’s financing capacity and experience in arranging project financing in Africa.
The meeting aimed to streamline the procurement process timeline to enable the project’s swift completion. The Bureau of Public Procurement (BPP) has issued a certificate of no objection for the single-source procurement of the bridge from Julius Berger Plc.
This agreement marks a significant step towards the eventual financing and construction of the Lokoja-Shintaku Bridge, a critical infrastructure project in Kogi State.