The state's commissioner for works said that the flyover will be constructed within 18 to 24 months.
Johnson, who spoke at a joint press briefing with Mr Steve Ayorinde, the Commissioner for Information and Strategy, and other commissioners in Ikeja, said the bridge would be constructed within 18 to 24 months.
He said: "The Pen-Cinema flyover has been a recurring decimal in this state to solve the gridlock there.
"This flyover will bring to three the number of flyover undertaken by this government after the Abule-Egba and Ajah flyovers which are on course.''
Johnson said that the flyover will be constructed from Oba Ogunji via Ijaiye Road into Agunbiade.
He said that the bridge will be 700 metres long with some junction improvement at PenCinema.
"The project will also accommodate a generous walkway, similar to the Ikorodu Expressway and the bridge will have a free flow all the way to Agunbiade,’’ he said.
Also speaking, Ayorinde said that the state government has decided to deploy 13,000 Closed Circuit Television (CCTV) cameras, and security sensors for surveillance and crime prevention.
He said that with this, the government has declared its readiness to activate a muti-faceted project designed to improve living standards and revenue generation in the state.
In the same vein, Mr Olufemi Odubiyi, the Commissioner for Science and Technology, said that the deployment of the cameras will start in September.
Odubiyi said that it would take between 16 to 18 months before the cameras could be evenly deployed across the state.
"There will be equitable distribution across the state and it will have a multiplier effect on business opportunities in the state as it continues to move toward a 24-hour economy.
The commissioner said that additional 6,000 streetlights will also be provided to support the state's "Light Up" initiative.
"What the state is trying to achieve at the end of the day is ensuring that e-government services are fully implemented so that citizens could enjoy the delivery of the objectives of the government," he said.
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In a remark, Mr Anofiu Elegushi, the Special Adviser to Ambode on Transportation, said that the traffic on the Lekki-Epe Expressway will be decongested through the removal of the three roundabouts.
Elegushi, however, said that the roundabouts will be replaced by traffic lights.