Sukuk Bond Drives Ibadan Ilorin Expressway Renovation to 58% Completion


• Lai Mohammed tips Buhari to win 2019 election
Olawale Ajimotokan in Oyo
The Minister of Culture and Information, Alhaji Lai Mohammed, has attributed the progress in the construction of the Ibadan-Ilorin dual carriageway to the N199 billion presidential infrastructural funds put in place in addition to the availability N100 billion bond.

The minister made this revelation yesterday at kilometre 48 during an inspection tour of Section 2 of Oyo-Ogbomoso section of the road.
He said federal government had been able to mobilise contractors to site because when government took the Sukuk loan, it divided it into six equal parts for each of the geo-political zones.

“This road is very strategic because it is the critical road that links the south-west with the northern parts of the country. I am happy that it is not a paper project. And we are equally delighted that the project will not experience funding hitches,” Mohammed said.

The minister boasted that with the performance of the administration in infrastructure and social services intervention, President Muhammadu Buhari would be re-elected next year.

The Federal Controller Oyo State, Omotayo Awosanya, said the road was 58 percent completed and should be delivered by the contractors by the middle of next year if fund is made available.
He said government had so far paid N26 billion out of the N47.5 billion construction cost to Reynolds Construction Company (RCC).
Awosanya said the Ibadan to Oyo and Ogbomoso to Ilorin segments of the road, had already been completed.

Section 2 is a 52 kms dualised, separated road that was awarded in June 2010, with the initial completion period of 40 months.
It will have five bridges and will align with some of the villages including, Irepo Community, Alayande College,  Sango Kojebi Village, Obada Market, Lagbiyan/ Akudu Village, Laaniba Village, Idiagba, Ijawaya, Odo Oba and Ogbomoso town.

According to Awosanya, the contractors had completed all 41 single diameter, 28 box and 11-underpass culverts.