Cheta,
1. Jan 2017, a contract for 14bn was awarded for ADDITIONAL EARLY WORKS PHASE 4:
2. Work started shortly afterwards:
3. The Addit Early Works was Budget-funded
4. The Main contract (signed Q3 2018) is PIDF-funded
#Thread
1. Jan 2017, a contract for 14bn was awarded for ADDITIONAL EARLY WORKS PHASE 4:
2. Work started shortly afterwards:
3. The Addit Early Works was Budget-funded
4. The Main contract (signed Q3 2018) is PIDF-funded
#Thread
Dear @Chxta, I‘ve included all the links dating back to Jan 2017 cos of:
1. Your predilection for ignoring publicly available info re the bridge
2. Your insinuation that work being done is because of elections. Work been ongoing fulltime for about 1 year premiumtimesng.com/regional/ssout…
1. Your predilection for ignoring publicly available info re the bridge
2. Your insinuation that work being done is because of elections. Work been ongoing fulltime for about 1 year premiumtimesng.com/regional/ssout…
This Early Works (which has been ongoing) was always going to be followed immediately by the Main Construction Contract.
But it was also important to find a way to move the project from the uncertainty of annual Budgetary cycles, hence the establishment of PIDF in 2018
But it was also important to find a way to move the project from the uncertainty of annual Budgetary cycles, hence the establishment of PIDF in 2018
PIDF is the Presidential Infrastructure Development Fund, established by PMB in early 2018, under the management of the Sovereign Wealth Fund @nsia_nigeria, to prioritize and Fund 3 critical Infra Projects - 2nd Niger Bridge, Lagos—Ibadan, Abuja-Kaduna-Kano. Kicked off with $650m
Here is the Press Release from @nsia_nigeria announcing the approval, by NEC, of the seed funding of US$650 million for the PIDF, in May 2018: nsia.com.ng/~nsia/sites/de…
With the release of the Fund, contractual processes commenced, to transfer the 3 key projects to PIDF
With the release of the Fund, contractual processes commenced, to transfer the 3 key projects to PIDF
That contracting for 2NB was concluded sometime in Q3 2018. And so the last few months have seen the winding down of the Additional Early Works and the kickoff of the Main Contract for the Bridge. Very important milestones. Pleased to note PIDF disbursements have since commenced.
.@Chxta, this is BRF last month:
Current photos from the Second Niger Bridge Site: (note that high water levels have slowed the pace of work in the Asaba site)
This is Lagos-Ibadan Expressway, another PIDF project: You know the story, trapped between a series of concessions and the federal works budget for the better part of a decade. Now being funded by PIDF:
And last but not least, the Abuja-Kaduna-Zaria-Kano Expressway, the third PIDF Project. Update here:
So 3 major projects, one North one East one West, all being funded by PIDF and overseen by the NSIA. $650m in seed funding, more coming.
So 3 major projects, one North one East one West, all being funded by PIDF and overseen by the NSIA. $650m in seed funding, more coming.
I very much hope, @Chxta, that you will take all this publicly verifiable information onto your @Smooth981FM morning show, to share with your wide audience.
Thanks, and God bless Cheta, God bless Tolu and God bless the Federal Republic of Nigeria.
Thanks, and God bless Cheta, God bless Tolu and God bless the Federal Republic of Nigeria.
