The Oyo State Governor flagged off the ‘Light Up Oyo’ Project (Phase Two) and the reconstruction of Under G-Stadium-LAUTECH-2nd Gate Road, Ogbomoso (3Km). Both projects are important parts of our plans to secure the people of Oyo State and expand our economy.
‘Light Up Oyo’ Phase Two covers selected roads across all the geopolitical zones of Oyo State totalling 223.48 Kilometres. The project will cost N28.3 Billion and will be financed through Contractor’s Project Financing Scheme with the Oyo State Government contributing an initial counterpart fund of N2.8 Billion.
According to the Governor, The contractor will finance the project and Oyo State will commence refunds after each 50 Km of road has been illuminated. So, there is a moratorium of 120 days before repayment commences. Repayment is spread over seven years. The duration of the project is nine months.
The reconstruction of Under G-Stadium-LAUTECH-2nd Gate Road will be executed using direct labour intervention by the Ministry of Public Works, Infrastructure and Transportation.
