He said the state had not received the funds because the Federal Government was yet to commence disbursement to the state, contrary to an agreement.
According to him, the bridge is one of the projects the bridging finance is meant to cover. He said: “The bridging finance is actually a finance that we already have a source of repayment and rather than allow the depreciation of the naira or the extension of time at work to create a cost escalation for us, our intention is to take a bridging finance and then pay back from the money the Federal Government owes us.
“Some states have taken part of their bridging finance because we are not the only state involved. But for us, we intend to wait until the refund process starts before accessing the bridging finance.” On the Koka flyover project, he expressed optimism that the project would be completed in December, stressing that the work was on schedule.