David Umahi, the Minister of Works, has concluded plans with Julius Berger Construction Company on alternative financing structure for the construction of the Lokoja-Shintaku bridge in Kogi State.
Orji Uchenna, Special Adviser on Media to the Minister, explained that the decision was reached during a meeting with the representative of Julius Berger PLC and Business Development Strategist, Filipe Nuno Lopes, and the development partners – Deutsche Bank represented by the Director Structured Trade & Export Finance Middle East & Africa, Humaya Harati, as well as and the bank’s Chief Country Representative Nigeria, Andreas Voss at the Honourable Minister’s office, in Abuja.
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Umahi said that the step was part of the measures of the Ministry to bridge the gap in road infrastructure funding. He expressed hope that with the immense financing capacity, relationships, and lengthy records of the firm in arranging financing for projects on the African continent, the project target would be accomplished.
Umahi emphasized the need for the timeline for the procurement process to be streamlined so that construction of the project could start and be completed in a record time.
Filipe Nuno, the representative of Julius Berger PLC and team lead, assured Nigerians that with the certificate of no objection issued by the Bureau of Public Procurement to the single source procurement of the bridge from Julius Berger PLC, the Lokoja- Shintaku project would be moved forward.
