Governor Seyi Makinde of Oyo State on Wednesday flagged off the reconstruction of the 21km Airport-Ajia-New Ife express road with a spur to Amukoko, expected to be completed within 18months.
According to the Governor,the project is being implemented under the Alternative Project Funding Approach(APFA) by Messrs Peculiar Ultimate Concerns Ltd at the cost of N8.5b.
“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”,he said.
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“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”.
