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Ajimobi flags off N70bn Ibadan Circular Road construction

By News Express on 18/06/2017

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•Governor Ajimobi.
•Governor Ajimobi.

The Oyo State Governor, Abiola Ajimobi has flagged off the construction of the Ibadan Circular Road estimated to cost about N70 billion, which will boost the socio-economic development and transportation system in the state.

During the flag-off held at Badeku village in Ona-Ara Local Government Area, the governor to said the 32-kilometre first phase of the 110-kilometre road would be completed within 18 months.

He said the first phase of the project, which would start from Badeku village and end at Ajanla village on the Lagos-Ibadan Expressway, representing the Northeast corner of the project, was awarded to the ENL Consortium Limited.

According to Governor Ajimobi, the project would be financed through a facility sourced from the Nexim Bank of China by the contractor on a “Build, Operate and Transfer” arrangement between the ENL and the state government.

Ajimobi said: “This project is at no cost to Oyo State Government. Our partner (ENL Consortium) shall raise fund to finance it on the basis of ‘build, operate and transfer’ as part of our public-private partnership agreement.

“Nexim Bank of China will provide the fund because of their belief in the expertise and international best practice of our partner for whom we are guarantors.”

Describing the project as a dream which had remained unfulfilled until his administration successfully brought it into fruition, Ajimobi said, when completed, it would further enhance the socio-economic development of the state.

Besides, he said it would generate unquantifiable number of skilled and unskilled employments as well as end the perennial traffic snarl within the Ibadan metropolis and help those travelling in and out of the city.

The governor pledged that his administration would not leave any project uncompleted, stressing that that was why the government opted for the PPP arrangement for the circular road to ensure its speedy completion.

Ajimobi, however, called on the Federal Government to support states with more funds for development to reach the grassroots.

In his address, the state Commissioner for Works and Transport, Mr Wasiu Dauda said the circular road was conceived as a bypass to divert traffic away from the city, thereby reducing travel time and operating cost of vehicles.

Dauda explained that the remaining three phases of the project are Northwest (33 kilometres), Southwest (24 kilometres) and Southeast (20.8 kilometres).

He said that the first phase would include provision of hydraulic structures, lined drains, culverts, three bridges, two interchanges/flyovers, pavement of lateritic sub-base of 200 millimetres, three security posts, two filling stations and street lights, among others.

The Chairman ENL Limited, Prince Adesuyi Haastrup expressed happiness that his firm was considered worthy to be part of the efforts at modernising the state and Ibadan city, pledging to deliver the project within the stipulated time without compromising the standard.

Haastrup announced that his consortium had accessed $232 million for the construction of the road and that work would start immediately.

The representative of the Olubadan of Ibadanland, High Chief Lekan Balogun; the Eleruwa of Eruwa, the Onpetu of Ijeru, and the Onjo of Okeho, who all spoke at the occasion, applauded the government for the modern trend of development  being introduced into the state.

(Channels TV)

 

Source News Express

Posted 18/06/2017 03:29:51 AM

 

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