The federal government has received a funding proposal from Deutsche Bank to replace Carter Bridge and rehabilitate 3rd Mainland Bridge in Lagos.

The offer was made during a meeting in Abuja with the Minister of Works, Engr. David Umahi, by Moritz Dornemann, Managing Director and Global Co-Head of Structured Trade and Export Finance, and Andreas Voss, the bank’s Chief Country Representative in Nigeria.

Speaking on the visit, the Minister’s Special Adviser on Media, Orji Uchenna Orji, said:

“The team from Deutsche Bank expressed interest in funding the replacement of Carter Bridge and the rehabilitation of 3rd Mainland Bridge. They commended President Bola Ahmed Tinubu for his commitment to large-scale road infrastructure development, noting its importance for sustainable economic growth and national prosperity.”

The bank officials also praised Hitech Construction Nigeria Ltd for its work on the Lagos-Calabar Coastal Highway and indicated willingness to fund further phases of the project.

Engr. Umahi highlighted the urgent need for the interventions, noting that Carter Bridge is badly damaged and in need of replacement, while the 3rd Mainland Bridge requires comprehensive underwater repairs to extend its lifespan by another 50 years.

He reassured the bank that the procurement process would be transparent and impartial, and promised that Deutsche Bank would be kept updated on project developments.