The Group Managing Director of Access Corporation, Herbert Wigwe has disclosed that the commercial bank will continue to support infrastructure development in the Centre of Excellence, Lagos.
The Access Corps chief executive made this known following a $1.3 billion finance deal with the Afriexim bank and Lagos state government for the execution of the Fourth Mainland Bridge and other critical projects in Nigeria’s biggest economy.
According to Wigwe the essence of the deal is to assist the state in its efforts to improve critical infrastructure as well as generate more revenue.
Wigwe said, “The whole idea is to decongest Lagos, improve the infrastructure, to support the generation of increased Internally Generated Revenue of Lagos and continue to spur the growth in its GDP.”
The state governor, Babajide Sanwo-Olu said the fund would increase the state’s Gross Domestic Product, GDP, while speaking at the second AfriCaribbean Trade and Investment, ACTI, Forum in GeorgeTown, Guyana.
According to the governor, the investment will help to realise key projects which include the Fourth Mainland Bridge, Omu Creek Project, and the second Phase of the LRMT Blue Line from Mile 2 to Okokomaiko.
These projects will significantly improve the living standard of the people of the state when completed, the governor said, o that the first phase of the fourth Mainland Bridge would be ready before the end of his tenure.
The investment, the governor said would also assist the state
He said government’s vision for Lagos was becoming a reality with the Lekki-Epe International Airport and the Lagos Food Systems and Logistics Hub in Epe, that would help attain food sufficiency in the state.
Sanwo-Olu said “We are committed to creating a better future for Lagos and its people. The future of Lagos is brighter than ever.
The first one is the first phase of the Fourth Mainland Bridge that will start from Aja end of Lagos and crossing the water, up on to Ikorodu and moving all the way to Lagos-Ibadan Expressway.
“The second infrastructure is what we call the Omu Creek, a huge infrastructure, that has been landlock in Lagos because of the crossing over of body of water to have access unto the land.
“This is the new Lagos that we are trying to recreate.
“The third project will be the Lekki-Epe Airport, which will open up the entire free trade zone region.
“We have gotten Federal Government’s approval and we will be working with a few partners.
“We are building the largest food logistics hub in the entire sub-saharan Africa and Afreximbank is excited in this and what it does to the economy,” the governor said said.
