Oyo State Governor, Abiola Ajimobi, has called on the Federal Government to review the current revenue sharing formula to allow for more funds to the states to facilitate more projects at the grassroots.
He made the call on Friday during the flag off of the N70 billion Ibadan circular road project at Badeku village, Off Ibadan-Ife Expressway, in the Inu Kan Local Council Development Authority area of the state.
His words: “I want to call on the Federal Government to grant more fund and consession to the states by reviewing the current revenue sharing formula to allow for more funds to the state government to facilitate faster and rapid development of the people.
The road is a Public-Private-Partnership project of Build, Operate and Transfer (BOT) arrangement between the Oyo State Government and the concessionaire company, ENL Consortium Limited.
According to the governor, the road project would not cost the state any money as the concessionaire company is expected to raise the required money for the project and build to the specification of the state government.
He lamented the neglect the project has suffered under past administrations in the state, assuring that the project would include some development corridors that would positively impact on the socio-economic lives of the people of the state and neighbouring states.
He said: “This is a fulfilment of our administration’s desire to turn the state to the one that we all will be proud of. It will create the platform and enabling environment for our people to thrive.
“This Ibadan Circular Road was first thought of in 2012 by our great leader and former governor, the late Lam Adeshina as a way of freeing Ibadan metropolis from perennial traffic in the inter and intra city movement but the project was abandoned by successive governments after Lam Adesina.
“We revived the project after considering the importance, not only to our socio- economic survival but also the benefit of neighbouring state. This made the state government sign a Memorandum of Understanding for the construction of the road through a PPP agreement with ENL Consortium Limited.
“The circular road, when completed, is expected to ease intra and inter-city traffic congestion, especially for Ibadan which is fast becoming an industrialized city under the current administration. The circular road will serve as a bye-pass for inter-city traffic on routes outside Ibadan, while it will open a new economic corridor for controlled development in line with the Ibadan Master Plan.’’
“The project shall be at no direct cost to the Oyo state government as ENL consortium will raise the fund and complete the project according to the specification given by the government.”
The flag-off was attended by traditional rulers from all the regions of the state, government functionaries, members of the Oyo State House of Assembly, members of the ruling All Progressive Congress (APC) and top management staff of ENL consortium.
Others are, trade unions including National Unions of Road Transport Workers (NURTW), Road Transport Employers Association of Nigeria (RTEAN), market association, trade unions among others.
The Chairman, ENL Consortium, Prince Adesuyi Haastrup lauded the governor for the initiative to develop the state for the benefit of other neigbouring states.
In separate goodwill messages, traditional rulers in the state including representative of the Olubadan, the Otun Olubadan of Ibadanland, High Chief Lekan Balogun, the Onjo of Okeho, Onpetu of ijero, and representative of Eleruwa of Eruwa, Chief Adefemi Atanda, lauded Ajimobi for the landmark project, urging him to sustain the tempo of governance in the state.
The entire stretch of the Ibadan Circular Road is 110km but segmented into first sections including: North East (32.2km), North West (33km), South West (24km) and South East (20.8km).
The 32.2 km stretch phase one of the project, linking Lagos-Ibadan-Expressway to Ibadan-Ife Expressway will cost N70 billion, and is expected to be completed in 18 months.
Some of the works to be executed on the road include: clearing, earthworks, provision of hydraulic structures including lined drains, culvert, three bridges, two interchanges/flyovers and road works with a pavement made of lateritic sub base 200mm.