'Work to Increase At Lagos-Ibadan Express Road'

The tempo of construction works on the Lagos - Ibadan express road is set to increase with the completion of the "new enhanced design" of the road and re-dedication of all stakeholders to its completion on schedule.

In a statement made available to LEADERSHIP and signed by the director of Motorways Asset Limited, Mr Hakeem Olopade, the project company partnering with the Federal Ministry of Works for the delivery of a fully enhanced Lagos -Ibadan Express Road, said that the need for due process, enhancements to earlier design and nature had largely been responsible for the slow pace of work on "the novel PPP-structured road."

Mr Olopade, who is also the executive director (Projects) at The Infrastructure Bank (TIB), the federal government's Fund Arrangers for the N167 billion road project, said that the road remained the most crucial highway in the Nigerian transport sector and could not be abandoned by the government.

The executive director said that TIB had successfully raised the "Tranche I" of the financing of the project in line with the expectations of the federal government and other stakeholders while the "Tranche II" is currently being arranged.

"The stakeholders would maximize efficiency gains in the construction phases of the project to ensure its completion to time and budget," he noted.

It stated that the financial obligations and commitments are being kept to keep the contractors on site while the stakeholders finalize the new designs and geometric drawings even as necessary development studies are also being finalised in good time ahead of full construction work resumption soon.

The statement admitted that arrangement of funds for the project was "slightly slowed down by legal conundrum" occasioned by the 2012 termination of the former concessionaire agreements on the road.

It said, "Rains have also recently affected full blown construction activities as some asphalt works have to be suspended till the dry season."

It assured that all the lost construction grounds would be covered by the two construction giants - Julius Berger Plc and Reynolds Construction Company (RCC) - once the rains are over.

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By 9jatravel / Administrator, bbp_keymaster

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on Oct 28, 2015

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