The Dangote Group and the Minister of Power, Works and Housing, Mr Babatunde Fashola along with other stakeholders have signed a N4.34 Billion Memorandum of Understanding (MoU) for the rebuilding of Apapa Wharf Road.
The project is to be funded by AG Dangote Construction Company Ltd, an arm of the Dangote Group, the Nigerian Ports Authority (NPA) and Flour Mills of Nigeria.
The road, which is the scene of countless gridlocks, was handed over to the stakeholders for commencement of reconstruction works after the agreement was signed in Lagos.
According to Fashola the practice of transporters ignoring the old system of moving cargo through rail to trucks and containers caused the situation.
“As a result of all these unsavoury practices, we have reached a point of near total gridlock, it is difficult to move cargo in or out, difficult for residents to get home and this must stop,’’ he said.
Fashola said that it took time to reach an agreement on the project because the stakeholders were putting up an effective design that would address the drainage problem because the area was water logged.
“We have finished with the design, we now have a Bill of Quantity and the cost of the road is N4.34 billion to be funded and paid for by these three groups, Flour Mills of Nigeria, AG Dangote Construction Company Ltd and NPA,’’ he said.
The minister said that although the parties were funding the project, the Federal Ministry of Power Works and Housing would supervise it through all the stages to ensure quality and compliance with standards.