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Odogbo Barracks road through the Alternative Project Funding Approach, reports ITREALMS.
The contract, according to the state's Commissioner for Information, Culture and Tourism, Dr. Wasiu Olatubosun, was awarded to Messrs Fax Consults at the cost of N3,280,568,572.34 only [Three Billion, Two Hundred and Eighty Million, Five Hundred and Sixty-Eight Thousand, Five Hundred and Seventy-Two naira and Thirty-Four Kobo only].
This is coming on the heels of the commitment made by the state governor, Engineer Seyi Makinde, during the last media interaction on Independence Day that the government would re-award the contract in four weeks.
A statement by the Chief Press Secretary to the governor, Mr. Taiwo Adisa, indicated that the Commissioner, while briefing newsmen shortly after the State Executive Council meeting, added that the sum of N231,100,000 [Two hundred and Thirty-One Million, One Hundred Thousand Naira Only] has been approved for the payment of compensation claims on the road.
Olatubosun, who briefed newsmen alongside the Commissioner for Establishment and Training, Prof. Daud Kehinde Shangodoyin, maintained that the road project would be completed through the Alternative Project Funding Approach, APFA, which will allow the state to pay after the contractor must have financed the project.
The Information Commissioner said: "We are here to brief you on the outcome of today's EXCO meeting. The first one has to do with the completion of the 7.25km IdiApe-Basorun-Akobo-Odogbo Barrack junction road dualization project.
"It would be recalled that during the last media interaction, the governor promised that the road will be looked into and worked upon.
"Today, the Council approved the completion of Idi Ape-Basorun-Akobo-Odogbo Barrack junction road dualization project. The project was awarded to Messrs FAX Consults Limited, at the sum of N3,280,568,572.34 only, on design, build and finance basis, and in line with the repayment modality in form of Alternative Project Funding Approach.
"The completion period of the project is 8 [eight] months.
"We also approved the payment of compensation claims on the dualisation of that same road to the tune of N231,100,000 put forward by the Ministry of Works, Infrastructure and Transportation."
Ayo Midele/Editor
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