The Oyo State Government has approved the concessioning of the first phase of the 110-kilometre Ibadan Circular Road.
The state Commissioner for Information and Orientation, Pastor Taiwo Otegbeye, made the disclosure while briefing newsmen alongside the Special Adviser to the Governor on Infrastructure, Engr. Kayode Adepoju, at the Governor’s Office, Ibadan on Wednesday.
Otegbeye said that the first phase of the project will be a four-lane, dual carriage motorway spanning a length of 35km from the existing expressway.
It was concessioned to Hi-tech Nigeria Limited and DSC Nigeria Limited under a build, operate and transfer arrangement.
The commissioner explained that the firms would operate the road on completion for 30 years, after which it would be handed over to the state government.
Otegbeye said that work on the first phase of the project would commence as soon as the award letter was given, adding that the project was expected to be completed within 36 months.
He said that the circular road would run through Ibadan, the state capital, pointing out that the first phase of 80 kilometres would start from Akilapa on the Lagos-Ibadan Expressway to Egbeda on Ibadan-Ife Expressway, while the second phase will commence from Egbeda and run through Akinyele to Iddo and back to Akilapa.
The commissioner described the road as a developmental project that would take the state to a higher level of development and place it at par with other developed cities of the world, adding that necessary legal backing had been accorded the project.
He said: “It is not just a road project.
“It is a project that is going to open up development corridors within the Ibadan metropolis.
“It will also give access to neighbouring states.”
Otegbeye said that the BOT arrangement was borne out of the need to make the project sustainable and run its course.