The Federal Government of Nigeria has officially handed over the construction of a new Carter Bridge in Lagos to China Civil Engineering Construction Corporation (CCECC), a project valued at ₦545 billion. This decision, announced by the Minister of Works, David Umahi, on Wednesday at Carter Bridge, Lagos Island, stems from alarming structural investigations dating back to 2013, revealing progressively worsening defects in both Carter Bridge and the 3rd Mainland Bridge. Umahi highlighted that repairing the existing Carter Bridge would be nearly twice the cost of constructing a new one, which will feature a world-class cable-stayed design to improve navigation and aesthetics. The project, expected to last 36 months, will be financed by 30% Federal Government funding and 70% external borrowing.