Image

GOV MAKINDE APPROVES NEW CONCESSIONAIRE FOR IBADAN CIRCULAR ROAD

Oyo State Governor, Oluseyi Makinde has approved the award of the contract for the construction of the 110km Ibadan Circular Road to a new concessionaire named Messrs SEL-Vydra Consortium, at the cost of N138.2 billion.


The new contract followed the expiration of the earlier contract for the construction of the 32 km stretch granted to Messrs ENL Consortium by the immediate past government in the State.


The project, which is to be executed on a Build, Operate and Transfer concession arrangement, is also classified as a User-Pays toll road.


However, the Makinde administration has approved a joint evaluation of the work done by ENL on the segment awarded to it in 2017.


The immediate past government had awarded the 32-kilometre portion of the road to ENL at the cost of N67 billion.


READ ALSO: SUSPECTED CULTISTS KILL UNIBEN UNDERGRADUATE AFTER LAST EXAM


The portion awarded to ENL at the cost of N67bn represents only a third of the entire 110km stretch of the all-important road now awarded at the cost of N138.2bn.


Chief Press Secretary, Taiwo Adisa confirmed that the award of the contract was one of the last assignments undertaken by the State Executive Council, which was dissolved shortly after its meeting on Tuesday, June 29, 2021.


Other contracts awarded by the Council include the 34.85 km Oyo-Iseyin Road; Isaba-Ogundoyin road, Eruwa; BCJ/Railway Crossing/NIHORT Road and the Kolapo Ishola GRA roads.


The Oyo-Iseyin Road is a Federal Road being constructed by the State in view of its strategic importance to the economic expansion plans of the Makinde administration.


The statement further indicated that the Ibadan Circular Road encircles the Ibadan urban area, providing the critical link between different parts of the city and the new Central Business District initiated by Governor Makinde.

While the state government will contribute N25 billion and own 20 per cent equity in the project, Messrs SEL-Vydra Consortium will contribute the sum of N113.2 billion and own 80 per cent. 


According to the statement, the Oyo-Iseyin road, awarded to Messrs Kopek Construction Limited, at the cost of N8.4 billion, will be executed through the Alternative Project Funding Approach (APFA).


The state government also approved the construction of a 500,000 litre aviation fuel facility at the Ibadan Airport as well as the construction of Isaba-Ogundoyin road in Eruwa.


It also approved the rehabilitation/sectional overlay of BCJ-Railway crossing/Up Jesus junction/Baptist Grammar School junction/NIHORT junction, with a spur to 'Ye Are The Light Church' Road, Ibadan.


Approval was also given for the rehabilitation and asphaltic overlay of roads within Kolapo Ishola Estate, a Government Reservation Area (GRA), in Ibadan at the cost of N1.053 bn.


The project would be executed by Messrs Peculiar Ultimate Concerns, with a contract duration of five months.


For the latest Updates from Eons Intelligence, Follow us on twitter @eonsintelligenc and on Facebook, Eons Intelligence. You can also connect with us on our LinkedIn Page, Eons Intelligence

Comments


This is Rising!

  • Image

    NDLEA DECLARES PROPHETESS AND CELEBRITY COUPLE ...

  • Image

    TURNING LOGIC ON ITS HEAD

  • Image

    COVID-19 SITUATION REPORT FOR MAY 27TH, 2020

  • Image

    ARMY KILLS 3 BOKO HARAM/ISWAP TERRORISTS IN CAM...

  • Image

    BOKO HARAM ABDUCTS LEADER OF BORNO STATE HUNTER...

  • Image

    ANOTHER VIDEO OF NIGERIAN MAN TORTURED IN PAKI...

  • Image

    MDAT-GoG WARNS OF LACK OF ROBUST SECURITY PATRO...

  • Image

    FIFA WORLD CUP QATAR 2022: WHY IT IS NOT YET UH...

  • Notice (8): Trying to access array offset on value of type null [ROOT/plugins/EonsNews/src/Template/Pages/details.ctp, line 159]" alt="Image" />

    Notice (8): Trying to access array offset on value of type null [ROOT/plugins/EonsNews/src/Template/Pages/details.ctp, line 169]/details/entertainment-intelligence-71732789101/">
    Notice (8): Trying to access array offset on value of type null [ROOT/plugins/EonsNews/src/Template/Pages/details.ctp, line 170]

  • Image

    NBS REPORT: PRESIDENCY REACTS TO -6.10 % GDP DE...

  • Image

    BANDITS STORM ZAMFARA COMMUNITY, CART AWAY 300 ...

Join WhatApp Group