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Oyo approves reconstruction of 45.3km Saki-Ogbooro-Igboho road for N8.7bn


Oyo approves reconstruction of 45.3km Saki-Ogbooro-Igboho road for N8.7bn

To install 58 Motorized Boreholes across 33LGs

….grants semi-autonomy status to four hospitals to fast-track healthcare delivery

Oyo State Government, on Wednesday, announced approval for the reconstruction of 45.3 kilometre Saki-Ogbooro-Igboho road at the cost of Eight Billion, Seven Million, Four Hundred and Fifty-Six Thousand, Eight Hundred and Sixty-Two Naira, Seventy-Two Kobo Only (N8,700,456,862.72k).

The Executive Council also approved the installation of 58 Motorized Boreholes across the 33 Local Government Councils of the state at the cost of Three Hundred and Twelve Million, Two Hundred and Two Thousand, Nine Hundred Naira only (N312,202,900).

While briefing newsmen on the outcome of the 28th Oyo State Executive Council meeting held at the Executive Chamber of the Governor’s Office, Secretariat, Ibadan, on Tuesday, the state’s Commissioner for Agriculture and Rural Development, Hon. Muyiwa Ojekunle, said that the contract for the road was awarded to Messrs China Civil Engineering Construction Corporation (CCECC).

A statement by the Chief Press Secretary to Governor Seyi Makinde, Mr. Taiwo Adisa, indicated that the project was awarded under the Alternative Project Funding Approach (APFA), which would see the contractor initially execute the project with its funds, while the state will pay back through scheduled repayments.

Oyo approves reconstruction of 45.3km Saki-Ogbooro-Igboho road for N8.7bn

The project, according to the statement, would be completed within 18 months.

The Commissioner said: “The Council approved the reconstruction of the 45.3km road from Saki to Ogbooro down to Igboho through APFA. This approach offers several advantages over the traditional payment method.

“All of us are aware of the condition we are, in Nigeria today. The allocation to the state has reduced and what we are receiving cannot be compared to what the past administration collected. So, the government decided to use this method, which we see is helping us.

“We are aware that the governor has decided to build his agenda on four pillars. This one is infrastructure because he links all his projects to the other. Once the road is rehabilitated, we will have a way of bringing our food to the main markets, because most of these foods are from a part of Oke-Ogun. And the governor has proven that all that he is doing is not centralized in one zone.

“The contract is awarded to Messrs CCECC Nigeria Limited at a sum of 8,700,456,862.72 only. And this project, as approved, will last between the duration of 18 months on a design, bill and finance basis in line with the implementation and agreement modality as presented.

“So, once the date of the award is given, the contractor will be paid Just 20 per cent. You can see the achievement of this and, subsequently, the money will be paid from the statutory allocation based on its performance. That is why we said it has more advantages than the other method.”

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