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Oyo State governor, Senator Abiola Ajimobi, yesterday flagged off the construction of the Ibadan Circular Road estimated to cost N70 billion, which will boost the socio-economic development and transportation system in the state.
The governor, while speaking at the flag-off held at Badeku Village in Ona-Ara Local Government Area, said the 32km first phase of the 110km road would be completed within 18 months.
He said the first phase of the project, which would start from Badeku Village and end at Ajanla Village on the Lagos-Ibadan Expressway, representing the Northeast corner of the project, was awarded to the ENL Consortium Limited.
According to the governor, the project will be financed through a facility sourced from the Nexim Bank of China by the contractor on a “Build, Operate and Transfer“ arrangement between the ENL and the state government.
