By Derrick Bangura

The Nigeria Sovereign Investment Authority (NSIA) has disclosed that the ongoing construction of the Second Niger bridge is at 91 per cent complete.
However, the total infrastructure of the Second Niger Bridge, which includes road, bridge and interchange and others is presently at 84 per cent completion.
The completion date, the Authority reiterated would be October this year.

The Managing Director, NSIA, Mr. Uche Orji, who disclosed this to THISDAY on Sunday, confirmed that out of the total project cost of about N206 billion, only N157 billion had been spent on the infrastructure, which is central to the south-eastern Nigeria and the nation as a whole.
“The total project cost is estimated at N206 billion. So far, about N157 billion has been expended on the project. It doesn’t mean that the outstanding sums won’t be utilised. This is just the expenditure to date.
“As it stands, the entire stretch of infrastructure i.e. road, bridge and interchange etc is about 84 per cent done at this point while the bridge alone is over 91 per cent done,” he said.

According to Orji, while in terms of percentage, the major works have been done, the finishing works are quite extensive and would take a few months, stretching into October this year.
On the funding structure of the project, Orji, noted that the Second Niger Bridge was one of the three projects being funded from the Presidential Infrastructure Development Fund.
The other two projects, according to him, are the Abuja-Kaduna-Kano Road project and the Lagos-Ibadan express road project.

Orji explained that, “The PIDF is a special fund set up by PMB and managed by the NSIA. The NSIA brought in some of its own capital alongside the capital provided by FG and the capital from returned loot from Sani Abacha.

“So, when you said PPP, it is the NSIA and the partnership of the federal government and NSIA is the one coordinating the fund from investors.
“So, as it stands now, it is purely the NSIA and the federal government that is the face of the project today.
“The NSIA is an investment institution owned by all three tiers of government including the states and local governments, the federal government and the federal capital territory which make up the shareholders of the NSIA.

“In terms of other people that will invest in the project, they will come under the NSIA’s fundraiser activities.”
Speaking on the compensation for Nigerians, whose lands were affected by the project, Orji said a significant portion of the compensation has been settled by the government.
He said more assessment was still being made with a view to compensating those that would still be affected as the project progresses.

“Regarding compensation, this is an ongoing affair, we had paid significant sums earlier. However, there are still some more compensations to be made. We expect to close these as we continue to work.

“As you can see, the bridge itself is 11.9 kilometers, there still remains 17 kilometers of road on this side and the Asaba end of the road that will be paid for.
“Assessment is still being made for compensation. What I can assure you is that the directive we have from the President and from the Minister and our Board is that adequate compensation is to be paid to everyone who is affected,” he noted.