After completing the construction of the multi-billion Naira second Niger Bridge, Nigeria Sovereign Investment Authority (NSIA) says it recently performed the official transfer formalities to the Federal Government.
The Second Niger Bridge is a strategic infrastructure providing the vital link to the Southeastern part of the country to other regions.
The construction of the bridge was undertaken through the Presidential Infrastructure Development Fund (PIDF), with NSIA providing both funding and project management services.
The management of NSIA in a statement on Tuesday in Abuja announcing the transfer of the completed project to the government said the scope of the Second Niger Bridge project involved the construction of a 1.6 kilometres concrete box-girder bridge over the River Niger, construction of two secondary bridges at Amakon Village Road and Atani Road, measuring 21.7 metres each, construction of a new cloverleaf interchange at Onitsha–Owerri Road and construction of 10.3 kilometres approach roads from Asaba in Delta State and Onitsha in Anambra State.
The NSIA said the scope of the project also covered the construction of a temporary link road, approximately 2.4 kilometres long, from the Asaba end of the Bridge to the Benin-Asaba dual carriageway, enabling immediate bridge operation until the completion of the two 17.5 kilometres connecting approach roads.
The PIDF was established by the Presidency in 2018 to accelerate the completion of certain critical and strategic infrastructure projects to catalyse socio-economic advancement in parts of the country.
Some projects initiated under the PIDF include the Second Niger Bridge, the Lagos-Ibadan Expressway and the Abuja–Kano Road.
The NSIA said it collaborated with critical stakeholders such as the Presidency, Federal Ministries of Works, Finance and Justice to fulfil both the technical and financial requirements of the project.
The Second Niger Bridge, the agency said, would boost economic activities by expanding access into the Southeastern part of the country, generate employment opportunities, and improve road safety along the corridor.
“The Authority takes great pride in serving as both the Fund and Project Manager for this strategic infrastructure project as it validates the trust reposed in NSIA by the Presidency”, the Managing Director/CEO of the sovereign wealth agency, Aminu Umar-Sadiq, said.
“Furthermore, the completion and handing over of the second Niger Bridge to the government aligns with our over-arching objective to stimulate socio-economic development in Nigeria by developing critical infrastructure of national significance,“ Umar-Sadiq added.
The MD who spoke at the handover of the bridge, said the transfer of the Second Niger Bridge to the Federal Government represented a significant achievement for the NSIA, as it aligns with its commitment to effectively execute large scale complex projects that positively impact the socio-economic conditions for the present and future generations of Nigerians.
The Minister of Works, Dave Umahi, who also expressed satisfaction with the project, said the Second Niger Bridge was ‘impeccable, very beautiful and well completed’.
NSIA is Nigeria’s sovereign wealth and investment institution established to manage the country’s Sovereign Wealth Fund realised in excess of budgeted hydrocarbon revenues. The NSIA manages Nigeria’s wealth through three distinct sub-funds, namely the Stabilization Fund (SF), the Future Generations Fund (FGF) and the Nigeria Infrastructure Fund (NIF).
The construction of the second Niger Bridge was funded with funds drawn from the NIF.
