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Lagos-ibadan Expressway Reconstruction To Be Completed In 24-30 Months-fg - Politics - Nairaland

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Lagos-ibadan Expressway Reconstruction To Be Completed In 24-30 Months-fg by theshadyexpress(m): 5:08am On Sep 11, 2013
THE Infrastructure Bank Plc has secured the Federal Government’s mandate to raise N167 billion for the reconstruction of the 127-kilometre Lagos-Ibadan dual carriage way.

Under the scheme of arrangement scripted for the strategic road reconstruction, the bank is expected to be the transaction adviser and lead a consortium of local and international financiers, as well as investors, to provide the required funding for the project.

The Managing Director of the bank, Adekunle Oyinloye, in a statement in Abuja Tuesday, said that the financial institution would leverage on its financial expertise in its partnership with the Federal Government on the reconstruction of the expressway.

Oyinloye said that his bank was thrilled to have been able to provide the financial engineering to ensure the bankability of this project and would raise the requisite capital to execute the project

“The project is now to be completed in a record time of 24 to 30 months as opposed to the 48 months initially proposed by the contractors,” he said.

According to Oyinloye, Infrastructure Bank has been providing cutting-edge advisory services for the project, while it would continue to work with the Federal Government towards the timely completion of the project.

He called on other Nigerian banks to channel their pool of funds into the development of infrastructure, to further unlock the nation’s potential.

“For Nigeria to rapidly reduce its infrastructure deficit and improve on its socio-economic development indices, it behoves the nation’s financial sector to unlock its potential,” he said.

At the flag-off ceremony of the project in July, President Goodluck Jonathan had said that “the road is an important economic artery that connects our nation’s economic nerve centre to many of the states of our federation,” stressing that “this strategic national infrastructure is therefore of great socio-economic importance, not only to Nigeria, but also to the people of Africa”.

The Minister of Works, Mike Onolememen, described the project as further evidence of the unwavering commitment of President Jonathan to transform the nation’s transport infrastructure.

He said that the Federal Government was delighted to have worked closely with the Infrastructure Bank in structuring innovative financing solution for the rehabilitation and expansion of the expressway.

The Lagos-Ibadan expressway was built over 30 years ago and is one of the most important roads in the country, linking the nation’s commercial hub of Lagos to the adjoining states and the rest of the country.

The road was initially concessioned to Bi-Courtney Services Limited but the arrangement was revoked by the Federal Government early this year, over assessed slow pace of work on the project.
source: http://www.ngrguardiannews.com/business-news/132435-infrastructure-bank-secures-mandate-to-finance-lagos-ibadan-expressways-reconstruction
Re: Lagos-ibadan Expressway Reconstruction To Be Completed In 24-30 Months-fg by RoyalRoy(m): 5:16am On Sep 11, 2013
Hopefully it won't be another repeat of Ibadan to Ilorin express way!!

2 Likes

Re: Lagos-ibadan Expressway Reconstruction To Be Completed In 24-30 Months-fg by theshadyexpress(m): 6:54am On Sep 11, 2013
let's give fg a chance to prove itself

1 Like

Re: Lagos-ibadan Expressway Reconstruction To Be Completed In 24-30 Months-fg by sammy329(m): 7:02am On Sep 11, 2013
undecided undecided
Re: Lagos-ibadan Expressway Reconstruction To Be Completed In 24-30 Months-fg by stormm: 7:28am On Sep 11, 2013
How many months after flag-off? undecided
Re: Lagos-ibadan Expressway Reconstruction To Be Completed In 24-30 Months-fg by fyneguy: 7:33am On Sep 11, 2013
stormm:
How many months after flag-off? undecided

grin political flag-off

1 Like

Re: Lagos-ibadan Expressway Reconstruction To Be Completed In 24-30 Months-fg by Nobody: 7:42am On Sep 11, 2013
And I wonder how many lives it will claim before the completion of all the phases in 2-3 yrs time.

No zeal, no enthusiasm, no passion...

This is just a yeye political stunt.
Re: Lagos-ibadan Expressway Reconstruction To Be Completed In 24-30 Months-fg by Buchianom(m): 7:47am On Sep 11, 2013
Nyz one !!

Truth remains that this administration has shown more sincerity $ focus than past gvts.

Ride on GEJ!!!!

Sincere Nigerians ar solidly behind U.

3 Likes

Re: Lagos-ibadan Expressway Reconstruction To Be Completed In 24-30 Months-fg by tatosh: 7:56am On Sep 11, 2013
So they've not even yet taken care of funding and framework before Our Joker of a president came to comission the road months ago.
What was the commissioning now for anyway?
I bet it was for political reasons.
These politicians don't even do anything for sincere reasons, it is all for person gain. What kind of country is this?
We are cursed with the worst kind of individuals as leaders.
To lift the curse, here is the solution: Vote APC in 2015

4 Likes

Re: Lagos-ibadan Expressway Reconstruction To Be Completed In 24-30 Months-fg by Nobody: 8:00am On Sep 11, 2013
It's not about constructing roads, its about constructing durable roads and completing the project on record time.
The Enugu onitsha expressway that was flagged off since 2011 is still been constructed and the road looks inferior.
Howevere the fact that GEJ is trying is undisputable
Re: Lagos-ibadan Expressway Reconstruction To Be Completed In 24-30 Months-fg by ilaugh1: 8:20am On Sep 11, 2013
tatosh: So they've not even yet taken care of funding and framework before Our Joker of a president came to comission the road months ago.
What was the commissioning now for anyway?
I bet it was for political reasons.
These politicians don't even do anything for sincere reasons, it is all for person gain. What kind of country is this?
We are cursed with the worst kind of individuals as leaders.
To lift the curse, here is the solution: Vote APC in 2015

You are obviously a curse to yourself when you refuse to appreciate little efforts. APC my b..utt hole.

8 Likes

Re: Lagos-ibadan Expressway Reconstruction To Be Completed In 24-30 Months-fg by theshadyexpress(m): 9:03am On Sep 11, 2013
tatosh: So they've not even yet taken care of funding and framework before Our Joker of a president came to comission the road months ago.
What was the commissioning now for anyway?
I bet it was for political reasons.
These politicians don't even do anything for sincere reasons, it is all for person gain. What kind of country is this?
We are cursed with the worst kind of individuals as leaders.
To lift the curse, here is the solution: Vote APC in 2015
you're on your own.keep trying hard to make APC look relevant.

4 Likes

Re: Lagos-ibadan Expressway Reconstruction To Be Completed In 24-30 Months-fg by theshadyexpress(m): 9:07am On Sep 11, 2013
i_laugh:

You are obviously a curse to yourself when you refuse to appreciate little efforts. APC my b..utt hole.
word man....u said it all,I just hope he'll be smart enough to accept ur advice.
Re: Lagos-ibadan Expressway Reconstruction To Be Completed In 24-30 Months-fg by Nobody: 1:23pm On Sep 11, 2013
Dis road no dey finish? Na wa o!
Re: Lagos-ibadan Expressway Reconstruction To Be Completed In 24-30 Months-fg by creativemusic: 1:25pm On Sep 11, 2013
good grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin
Re: Lagos-ibadan Expressway Reconstruction To Be Completed In 24-30 Months-fg by 4reigningqueen: 1:25pm On Sep 11, 2013
ok...o.

Hope the materials you are using are not fake. Just asking.
Re: Lagos-ibadan Expressway Reconstruction To Be Completed In 24-30 Months-fg by Nobody: 1:25pm On Sep 11, 2013
Sighs* tot FG had given the project out already
Oga o

1 Like

Re: Lagos-ibadan Expressway Reconstruction To Be Completed In 24-30 Months-fg by Rossikk(m): 1:27pm On Sep 11, 2013
This Lagos-Ibadan expressway sef.... should have been fixed ages ago. Sick of hearing about it. undecided
Re: Lagos-ibadan Expressway Reconstruction To Be Completed In 24-30 Months-fg by Drsheddy(m): 1:28pm On Sep 11, 2013
.
Re: Lagos-ibadan Expressway Reconstruction To Be Completed In 24-30 Months-fg by eduson33(m): 1:34pm On Sep 11, 2013
Am I the first to
Re: Lagos-ibadan Expressway Reconstruction To Be Completed In 24-30 Months-fg by modextus(m): 1:34pm On Sep 11, 2013
Yeye peepo with lie


Abuja-lokoja express way which ιѕ at there backward has been in "work in progress" for the past ten years.
Re: Lagos-ibadan Expressway Reconstruction To Be Completed In 24-30 Months-fg by kstyle2(m): 1:34pm On Sep 11, 2013
...and i heard d trumpet of d lord....n d dead in christ rose 1st...and i beheld d lamb of the lord...he said 'son of man,do u knw wat tyms r these,wit my face 2 d ground,i said 'masta,i knwth not.....he said,'these are signs ......den i awoke

1 Like

Re: Lagos-ibadan Expressway Reconstruction To Be Completed In 24-30 Months-fg by Ewarrior: 1:35pm On Sep 11, 2013
Why flag off construction,when adequate financing plans have not been made..

This Govt is a joke.
Re: Lagos-ibadan Expressway Reconstruction To Be Completed In 24-30 Months-fg by Kairoseki77: 1:36pm On Sep 11, 2013
The FG "commissioned" and flagged off on the road some months ago.

Now we see that they are still in the financing stage

Promises and lies are all I ever hear from this gov't. angry
Re: Lagos-ibadan Expressway Reconstruction To Be Completed In 24-30 Months-fg by arthgideon: 1:36pm On Sep 11, 2013
Hopefully the road would be completed. Tho the federal government should have done the road ages ago
Re: Lagos-ibadan Expressway Reconstruction To Be Completed In 24-30 Months-fg by Ewarrior: 1:37pm On Sep 11, 2013
eduson33: Am I the first to

No... Sorry embarassed
Re: Lagos-ibadan Expressway Reconstruction To Be Completed In 24-30 Months-fg by harby: 1:37pm On Sep 11, 2013
taah.....that how we were told on badagry express road...it nw an ajegunle clone
Re: Lagos-ibadan Expressway Reconstruction To Be Completed In 24-30 Months-fg by Jorian(m): 1:37pm On Sep 11, 2013
pls illitrcy is very bad, let dem call off ASUU strike leave road, dis road na contract given to in house people. Now illitracy don increase to 35million. Abeg ASUU first oooo
Re: Lagos-ibadan Expressway Reconstruction To Be Completed In 24-30 Months-fg by Jorian(m): 1:38pm On Sep 11, 2013
pls illitracy is very bad, let dem call off ASUU strike leave road, dis road na contract given to in house people. Now illitracy don increase to 35million. Abeg ASUU first oooo
Re: Lagos-ibadan Expressway Reconstruction To Be Completed In 24-30 Months-fg by Appliedmaths(m): 1:40pm On Sep 11, 2013
When Akpabio constructed Federal roads with state funds in Akwa-ibom state, the people thought the man was mad; he asked one question and I quote and un-quote "the people that lost their lives on these bad roads are they federal citizens? ",I say NO! Cause the people that have died and would still die on this Lagos-ibadan express way are not Federal citizens they don't partake in the National cake; the people that partake in the National cake don't use these roads. My point is If lagos and ibadan can't rally around to fix this mess they should sit there and watch their people die due to the FG's recklessness. We know that the FG is incompetent and this can't be completed within the next 50 months.
Re: Lagos-ibadan Expressway Reconstruction To Be Completed In 24-30 Months-fg by bakynes(m): 1:53pm On Sep 11, 2013
Appliedmaths.:
When Akpabio constructed Federal roads with state funds in Akwa-ibom state, the people thought the man was mad; he asked one question and I quote and un-quote "the people that lost their lives on these bad roads are they federal citizens? ",I say NO! Cause the people that have died and would still die on this Lagos-ibadan express way are not Federal citizens they don't partake in the National cake; the people that partake in the National cake don't use these roads. My point is If lagos and ibadan can't rally around to fix this mess they should sit there and watch their people die due to the FG's recklessness. We know that the FG is incompetent and this can't be completed within the next 50 months.

Get ur facts right,The three states linked with this road; Lagos,Ogun and Oyo states have informed the FG in the past that, they want to do it collectively due to the neglegence on the part of d FG bt the FG has refused to let them repair the road, so get ur fact right before coming here to comment.

1 Like

Re: Lagos-ibadan Expressway Reconstruction To Be Completed In 24-30 Months-fg by Ewarrior: 1:56pm On Sep 11, 2013
harby: taah.....that how we were told on badagry express road...it nw an ajegunle clone

What are u saying??

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