The Ogun State government has signed a Memorandum of
Understanding (MoU) with the a private firm, Sino-African Investment
Free Trade Zone Company, for the construction of a four-lane, 10-
kilometre Lusada-Igbesa Ogun Quangdong Free Trade Zone road in Ado-Odo
Local Government Area.
A statement by the Commissioner for Works and Infrastructure, Mr. Olamilekan Adegbite, after signing the MoU, said the road would be financed by the company. The statement was signed by the Head of Media in the ministry, Mr. Ayokunle Ewuoso.
Adegbite, who described the situation of the road as clay, dusty and dilapidated, said the company would reconstruct it into a four-lane rigid concrete pavement complete with median, walkways and green belt.
“Our government recognises the importance of this road that is why we have bought into the proposal brought by this company to reconstruct it into a four-lane, 10km, rigid concrete pavement. This road would be tolled for 15 years and run by the company to enable them recoup their investment; 10 per cent of the annual collection on this road shall accrue to the state government.” The time frame for completion is between six to eight months,” Adegbite explained.
The Commissioner pointed out that when completed, the road would increase economic and commercial activities of the area, attract more investors, increase the property value in the area and reduce the hardship faced by farmers when transporting their farm produce to the city.
He revealed that government has set aside about N8 billion as compensation for those whose property may be affected by the project.
A statement by the Commissioner for Works and Infrastructure, Mr. Olamilekan Adegbite, after signing the MoU, said the road would be financed by the company. The statement was signed by the Head of Media in the ministry, Mr. Ayokunle Ewuoso.
Adegbite, who described the situation of the road as clay, dusty and dilapidated, said the company would reconstruct it into a four-lane rigid concrete pavement complete with median, walkways and green belt.
“Our government recognises the importance of this road that is why we have bought into the proposal brought by this company to reconstruct it into a four-lane, 10km, rigid concrete pavement. This road would be tolled for 15 years and run by the company to enable them recoup their investment; 10 per cent of the annual collection on this road shall accrue to the state government.” The time frame for completion is between six to eight months,” Adegbite explained.
The Commissioner pointed out that when completed, the road would increase economic and commercial activities of the area, attract more investors, increase the property value in the area and reduce the hardship faced by farmers when transporting their farm produce to the city.
He revealed that government has set aside about N8 billion as compensation for those whose property may be affected by the project.
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