The Federal Government said it has concluded plans to provide alternative funding for Julius Berger to construct the Lokoja-Shintaku Bridge as part of its filling financing gaps in road infrastructure development in the country.
Minister of Works, David Umahi said this during discussions with Julius Berger Plc and others in Abuja.
Umahi said the decision was reached when he met with the representative of the firm and Business Development Strategist, Filipe Nuno Lopes, and the development partners. Umahi explained that the step was taken by the Ministry to bridge the gap in road infrastructure funding, hoping that with the financing capacity, relationships, and lengthy records of the firm in arranging for projects in the African continent, the project target will be accomplished.
The Minister emphasized the need for the timeline for the procurement process to be streamlined so that construction of the project can start and be completed in a record time, describing the discussion as a credible path to the eventual financing of the road project. Also the representative of Julius Berger Plc, 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.
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