Lagos State Deputy Governor Obafemi Hamzat has indicated that the state government plans to construct the Fourth Mainland Bridge using a public-private partnership model. In a Tuesday appearance on Lagos Television, Hamzat explained that the state’s financial capacity is insufficient to fund the bridge while simultaneously managing major rail projects. According to Punch, he described both initiatives as significant undertakings that require external financing to avoid straining the state’s balance sheet.
Hamzat noted that the project has been designed and its costs assessed, with private-sector professionals engaged to support negotiations. He reported that the state has attracted attention from potential backers in Portugal, China, and other regions. The deputy governor emphasized that the partnership model is preferred over excessive borrowing, which he argued could create long-term financial pressure on the state. He expressed confidence that these alliances would provide a sustainable financing structure for the infrastructure development.
A central concern for attracting private capital, according to Hamzat, is the reliability of toll revenue. He explained that investors require assurance that they can recover their investments through the infrastructure’s generated income. Punch reported that Hamzat highlighted the challenge of public willingness to pay tolls, particularly in areas where toll collection had previously been discontinued. He stated that the government is sharing traffic statistics and related details with potential partners to prove the project’s feasibility and the high demand for better connectivity in Lagos.
The Fourth Mainland Bridge is a planned major road initiative aimed at enhancing cross-city movement and relieving congestion on current thoroughfares. Hamzat, who is also the All Progressives Congress governorship candidate, said the government must address investor concerns to convince them that investing in major infrastructure in the state is worthwhile. He argued that consistent toll payment is essential for the financial model to work, as it directly impacts the return on investment for private partners.