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Total Cost Of Second Niger Bridge Is N138Bn –  Onolememen


Niger BridgeFormer minister of Works Mike Onolememen has faulted the allegation by Edo State Governor Adams Oshiomhole in the media that N140 billion was expended on consultancy services on the 2nd Niger Bridge Project.

Onolememen also faulted Oshiomhole’s claims that there was nothing on ground to show for monies spent on the project.

Mr Tony Ikpasaja, Onolememen’s Special Assistant on Media, in a statement quoted the former Works minister as accusing Oshiomhole of deliberately misinforming Nigerians on the true status of the 2nd Niger Bridge.

He said, “Rather than give in to such mis- information and sensationalism, the completion of the project, vis-à-vis sustaining the interest of the international investors that have signified interest in the project should be paramount.”

Onolememen further disclosed, “The 2nd Niger Bridge Project was procured as a Public Private Partnership project under the Design, Build, Finance, Operate and Transfer (DBFOT) model. This implies that the successful concessionaire, JB-NSIA Consortium has responsibility for the Design, Finance and Construction of the project, as well as its operation and maintenance for a concessionary period of 25 years.

“The total project cost is N108 billion (excluding Duties and Value Added Tax) with a completion period of about 48 months. This cost was arrived at, after BPP’s review of the Concessionaire’s submitted cost of N138 billion.”

He also challenged Oshiomhole to disclose the source of his information about his alleged N140 billion-consultancy cost for a project with a total cost of N108 billion.




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