Oyo State Government on Wednesday announced the approval for the reconstruction of 45.3 kilometre Saki-Ogbooro-Igboho road at N8.7billion.
The Executive Council also approved the installation of 58 Motorized Boreholes across the 33 Local Government Councils of the state at N312.2million.
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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).
The Chief Press Secretary to the governor, Taiwo Adisa, who briefed journalists after the state executive meeting, said the contract was that of an 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.
The project, according to the statement, would be completed within 18 months.