Built in 2016, the Nyerere Bridge has raked in a total of Sh102.18 billion, according to the Deputy Minister of State in the Prime Minister’s office (Labour, Youth Employment and People with Disabilities) Mr. Patrobas Katambi.
He made the revelation while responding to the questions from Parliamentary Members, as reported by The CItizen. The bridge is an investment of the National Social Security Fund (NSSF).
Kigamoni’s MP CCM, had asked Mr. Patrobas when the NSSF would be done recovering funds invested in the bridge’s construction before it is handed to the government, hence the revelation by the Deputy Minister.
The Deputy Minister, responded to the question stating “By July 2024, marking 9 years of operations Sh102.18 billion has been collected from various tolls.”
He also revealed that according to the feasibility study report, the project is expected to pay the fund Sh344 billion during a 30-year time frame.
“The amount covers investment costs, security and the value of investment money. Thus, after the funds have been repaid, the project would be handed over to the government,” Mr. Patrobas said to parliament.
“After NSSF has completed collecting funds from the project, the government will consider the best way for citizens to enjoy the investment without further toll payment,” he added.
One of the MPs asked a follow-up question on the government’s intention to thoroughly evaluate NSSF investment initiatives to identify losses suffered by funding ineffective projects.
The Deputy Minister responded by saying that actuarial assessments are carried out every three years and that they provide guidelines on potential difficulties with investment projects.
