Lagos/Ibadan Expressway to be completed 18 months earlier - Minister of Works

MINISTER of Works, Mr Mike Onolememen, on Monday, said the ongoing Lagos/Ibadan Expressway reconstruction would be delivered for public use in 30 months, instead of the initial 48 months completion period.
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Onolememen told newsmen,  during  his  inspection of road projects in Lagos, that the new completion date was made possible by a new template adopted for the project, which gave more banks opportunities for funding.

The News Agency of Nigeria (NAN) reported that President Goodluck Jonathan launched the Lagos/Ibadan Expressway reconstruction, slated to gulp about N167 billion, in July 2013.

The Federal Government awarded the 105-Kilometre road to both Julius Berger Plc and Reynolds Construction Company (RCC) Plc, both of whom had since commenced work.

The minister also told newsmen that there were over six other first class banks, whom he declined to mention “for corporate reasons,” co-funding the project with the Bank for Infrastructure.

“The banks are raising their portions of the funding so as to reduce the expected completion period of the project by 18 months,” he said.
http://www.tribune.com.ng/news/news-headlines/item/16765-lagos-ibadan-expressway-to-be-completed-18-months-earlier-onolememen

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