Lagos Fourth Mainland Bridge to rely on toll revenue to attract investors

By Ogundele Eniola

The Lagos State Government has said it will rely on private-sector investment to finance the proposed Fourth Mainland Bridge, with toll revenue expected to play a key role in attracting investors to the project.

Deputy Governor Obafemi Hamzat disclosed this during an interview with Lagos Television on Tuesday, explaining that the state could not fund the bridge entirely from its own resources while simultaneously financing major rail infrastructure projects.

Hamzat said the government had completed the bridge’s design and cost assessment and was engaging prospective investors from Portugal, China and other countries to secure funding for its construction.

According to him, the administration prefers a public-private partnership (PPP) arrangement to additional government borrowing, which could increase pressure on the state’s finances.

“The Fourth Mainland Bridge is a fantastic project that we must build, but we cannot fund it on our balance sheet and fund rail at the same time,” Hamzat said.

He explained that investors would need assurances that they could recover their capital and earn returns from the project, making toll collection an important component of the financing arrangement.

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The deputy governor also said the government was presenting traffic data and other relevant information to prospective investors to demonstrate the potential demand for the bridge.

The proposed 38-kilometre bridge is expected to connect parts of Lagos Island, Lekki and Ikorodu, providing an alternative route across the Lagos Lagoon and helping ease pressure on existing roads.

However, the reliance on toll revenue raises questions about the eventual cost to motorists and how the toll structure will balance investors’ financial expectations with affordability for commuters.

The bridge has long been proposed as part of efforts to improve connectivity across Lagos, but financing and project delivery have remained major considerations.

Hamzat said the state remained committed to the project, adding that partnerships with private investors would be central to moving it forward