Oyo State is set for smoother express roads, as governor Seyi Makinde on Wednesday flagged off the reconstruction of the Airport-Ajia-New Ife Express Road with a spur to Amuloko (21kms).
Makinde revealed this in a statement on Wednesday, saying the entirety of the project cost N8.5B and it is scheduled to be completed within 18 months. He further said the project is being implemented under the Alternative Project Funding Approach (APFA).
The Governor’s full statement reads:
Earlier today, we flagged off the reconstruction of the Airport-Ajia-New Ife Express Road with a spur to Amuloko (21kms). The project cost is N8.5B and it is scheduled to be completed within 18 months. It is being implemented under the Alternative Project Funding Approach (APFA).
Under APFA, the contractors fund the projects with their own money while the state repays them over a period of time, in this case, 29 months. As a result, we decided that it would be best to open up the bidding process so contractors outside of Oyo State can bid as well.
The contract was awarded to Messrs Peculiar Ultimate Concerns Ltd, whose representative, Engr Abel Adeleke, is from the neighbouring Osun State. The contractor has the means to fund the project, and has undertaken that the construction labour will come from Oyo State residents.
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