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Oyo Approves Issuance Of ₦100B Bond For Iseyin-Ogbomoso Road, Ibadan Airport - Politics - Nairaland

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Oyo Approves Issuance Of ₦100B Bond For Iseyin-Ogbomoso Road, Ibadan Airport by rodeo0070(m): 10:38am On Jul 22, 2020
Oyo Approves Issuance of N100 Billion Private Bond for Circular Road, Iseyin-Ogbomoso Road, Ibadan Airport Expansion

…Bond to Take Care of Construction and Upgrade of Hospitals, Ibadan Dry Port and Rail Corridor Development – Commissioner

The Oyo State Executive Council on Tuesday approved the issuance of a N100 billion private bond tagged “Oyo Prosperity Bond” to facilitate the execution of priority projects that will further drive economic development in the State.

This was disclosed in Ibadan by the Commissioner for Information, Culture and Tourism, Dr Wasiu Olatubosun, after the State’s weekly Executive Council’s virtual meeting.

Olatubosun disclosed that the fund would be raised in two tranches of N50 billion each for the construction of the 50-kilometre Iseyin-Ogbomoso road, the Ibadan Circular Ring-Road and Ibadan Airport upgrade.

The fund will also covered the development of Ibadan Dry Port and rail corridor that he said would serve as economic hubs of the State.

The Commissioner stated further that the State would construct and upgrade, with modern equipment, one Government hospital in each of the three senatorial districts of the State.

In addition, the 21-kilometre Airport – Ajia – New Ife Express Road with a spur to Amuloko in Ibadan would also benefit from the alternative project funding approach of the State Government.

According to the Dr Olatubosun, “considering the infrastructural needs of Oyo State to enhance its economic potentials, the State Government has approved the issuance of private bond tagged “Oyo Prosperity Bond” to facilitate the execution of priority projects with a view to raising one hundred billion Naira (N100bn), which is to be raised in two tranches of fifty Billion Naira (N50bn) each.”

“The State Government has approved Oyo State Prosperity Bond to allow for quick completion of these iconic priority projects. The construction of Iseyin – Ogbomoso Road is very important because when completed, it will serve as a link road and help to save many hours spent on travelling and the lives of commuters, who daily experience vehicular accidents on various roads that link the already dilapidated Ogbomoso Road.”

The Commissioner hinted that the 21-kilometre Airport – Ajia – New Ife Express Road with a spur to Amuloko would be executed by Messrs Peculiar Ultimate Concerns Ltd at a total cost of Eight Billion, Five Hundred and Twenty Million, Nine Hundred and Nineteen Thousand, Seven Hundred and Seventy-Six Naira, Forty-One Kobo (N8,520,919,776.41).

The project funding, Wasiu explained, would be in the form of Alternative Project Funding Approach (APFA), which allows for Public-Private Partnership for funding of infrastructural projects in the State.

“With this approach in place, there will be the transfer of projects’ risk to the private entity while the hassle of debt management office (DMO) approval would be avoided and the quality delivery, as well as quick completion of the project, would be ascertained,” Olatubosun said.

Meanwhile, the Oyo State Executive Council has also approved the establishment of the Oyo State Development Agency for Socio-Economic Advancement (OYODASA) to give room for the residents of the State to have a better understanding of Government’s goals and help establish a shared vision between communities within the State and the State administration.

Dr Olatubosun said the purpose of the agency was to booster participation in Governance at the grassroots levels, adding that the Government would establish offices for the agency in seven zones and in all the Local Government Areas of the State.

“The agency will ensure Government’s programmes and policies are better understood by the general public, mobilise favourable opinions for such programmes and policies, encourage informal education through public enlightenment activities and publications, and establish an appropriate framework for educating and orientating residents of the State towards developing socially desirable attitudes, values and cultures.

“It will also encourage the people to take part actively and freely in discussions and decisions affecting their general welfare while promoting new sets of attitude and culture for the attainment of the goals and objectives of the State.

“OYODASA will work to instil in the populace, a sense of loyalty to their fatherland, ensure and uphold leadership by example and foster respect for constituted authority,” he explained.
https://brandspurng.com/2020/07/22/oyo-approves-issuance-of-n100-billion-private-bond-for-circular-road-iseyin-ogbomoso-road-ibadan-airport-expansion/

4 Likes

Re: Oyo Approves Issuance Of ₦100B Bond For Iseyin-Ogbomoso Road, Ibadan Airport by Maxymilliano(m): 10:40am On Jul 22, 2020
Sounds good tho but hope it won't end up as another white elephant projects ...

12 Likes 1 Share

Re: Oyo Approves Issuance Of ₦100B Bond For Iseyin-Ogbomoso Road, Ibadan Airport by techmo(m): 10:42am On Jul 22, 2020
cool


Audio Makinde

40billion loan from UBA and FirstBank in just a year without anything to show for it... Absolutely nothing innuagurated

Another 100 billion loan in form of bonds with interest

Oyo State Federal Allocation 3 billion , IGR 2.7 billion

I trust PDP people to hail him as usual, after all Ikpeazu also has massive supporters... Ask them simple question of showing any ongoing projects valued at 40 billion they start blabing


*Anyways I like his Tax proposer... All houses are already being captured and stickers placed to identify them for "building tax" you either pay or get your house locked

*All cormercial Drivers and motorcycle riders now pay Makinde Tax daily and Thug Auxillary Levy

*Announcements have being made that all artisans , shop owners, and traders would be served 7 days to pay Tax or face conciquences

when Banks and creditors start deducting 80% of the Allocation, civil servants would understand the calamity about to befall them, when you are made to pay different tax you may think of holding Makinde accountable


.

48 Likes 4 Shares

Re: Oyo Approves Issuance Of ₦100B Bond For Iseyin-Ogbomoso Road, Ibadan Airport by chatinent: 10:49am On Jul 22, 2020
I reserve my comments.
Re: Oyo Approves Issuance Of ₦100B Bond For Iseyin-Ogbomoso Road, Ibadan Airport by IamWonderful: 10:52am On Jul 22, 2020
Alright
Re: Oyo Approves Issuance Of ₦100B Bond For Iseyin-Ogbomoso Road, Ibadan Airport by ThiagoKid(m): 11:35am On Jul 22, 2020
In The whole SW, looks like only Oyo state Government are working...

11 Likes

Re: Oyo Approves Issuance Of ₦100B Bond For Iseyin-Ogbomoso Road, Ibadan Airport by Loadbalancer(m): 11:36am On Jul 22, 2020
Nice one Mr. Governor. I hope this is working well for the people of Oyo

This week's website giveaway! I'll build a simple responsive custom website at 15k for first 2 people only. Click my name.

2 Likes

Re: Oyo Approves Issuance Of ₦100B Bond For Iseyin-Ogbomoso Road, Ibadan Airport by Jimasun: 11:37am On Jul 22, 2020
ThiagoKid:
In The whole SW, looks like only Oyo state Government are working...
Says an Abia man

46 Likes 2 Shares

Re: Oyo Approves Issuance Of ₦100B Bond For Iseyin-Ogbomoso Road, Ibadan Airport by SpicyMimi(f): 12:12pm On Jul 22, 2020
100B!!!! shocked

I must confess this, I served in Oyo state, and till now I can't stop telling people how good and well tarred the roads in Oyo state are, especially the street roads.


By the way, we have clearance sales for men's wears -50% discount off! Check my profile for pics and prices.

10 Likes

Re: Oyo Approves Issuance Of ₦100B Bond For Iseyin-Ogbomoso Road, Ibadan Airport by JerryLegend(m): 12:12pm On Jul 22, 2020
Makinde easy with the loan!!

4 Likes 1 Share

Re: Oyo Approves Issuance Of ₦100B Bond For Iseyin-Ogbomoso Road, Ibadan Airport by dele31: 12:12pm On Jul 22, 2020
This is very laudable. This is definitely a step in the right direction at developing the pace setter state. Kudos to Governor Makinde.

1 Like

Re: Oyo Approves Issuance Of ₦100B Bond For Iseyin-Ogbomoso Road, Ibadan Airport by Ayemileto(m): 12:12pm On Jul 22, 2020
shocked

Shey ordinary people fit buy the bond?

Abi how will the thing function?
Re: Oyo Approves Issuance Of ₦100B Bond For Iseyin-Ogbomoso Road, Ibadan Airport by churchboy608(m): 12:12pm On Jul 22, 2020
Wow... good move. Thumbs up to G.S.M => Governor Seyi Makinde. OYO STATE (Pace Setter).

1 Like

Re: Oyo Approves Issuance Of ₦100B Bond For Iseyin-Ogbomoso Road, Ibadan Airport by BigTableShaker(f): 12:13pm On Jul 22, 2020
Las Las Dem go still loot.


Instead of politicians, let the monkeys govern the countries; at least they will steal only the bananas!

2 Likes 1 Share

Re: Oyo Approves Issuance Of ₦100B Bond For Iseyin-Ogbomoso Road, Ibadan Airport by urbanop: 12:13pm On Jul 22, 2020
Wowwwww, Omg! I really don't know what else to say, it's really a good thing to invest that huge, fat and Heavy amount into but Mehn People are suffering, what's the point when an average Nigerian can't afford to eat a three Square meal in a day and we are talking of doing roads, celebrating shits. Nigeria is a must Leave
Re: Oyo Approves Issuance Of ₦100B Bond For Iseyin-Ogbomoso Road, Ibadan Airport by residentevil17: 12:13pm On Jul 22, 2020

Re: Oyo Approves Issuance Of ₦100B Bond For Iseyin-Ogbomoso Road, Ibadan Airport by barrypro: 12:13pm On Jul 22, 2020
Its Alright.
Re: Oyo Approves Issuance Of ₦100B Bond For Iseyin-Ogbomoso Road, Ibadan Airport by Amspecial: 12:17pm On Jul 22, 2020
grin
Re: Oyo Approves Issuance Of ₦100B Bond For Iseyin-Ogbomoso Road, Ibadan Airport by rebranded(m): 12:18pm On Jul 22, 2020
rodeo0070:

https://brandspurng.com/2020/07/22/oyo-approves-issuance-of-n100-billion-private-bond-for-circular-road-iseyin-ogbomoso-road-ibadan-airport-expansion/

This is one of the best reports I have read in a while.. kudos to this journalist.

We need more educational reporting like this!

2 Likes

Re: Oyo Approves Issuance Of ₦100B Bond For Iseyin-Ogbomoso Road, Ibadan Airport by Nobody: 12:19pm On Jul 22, 2020
.. Chaii.. Our blodas from The east will start running to oyo state now... gringrin


The Moment dey see any development in SW, they will flood there like refugees grin

6 Likes

Re: Oyo Approves Issuance Of ₦100B Bond For Iseyin-Ogbomoso Road, Ibadan Airport by sarmuel97(m): 12:19pm On Jul 22, 2020
Kudos to Gov makinde.
Re: Oyo Approves Issuance Of ₦100B Bond For Iseyin-Ogbomoso Road, Ibadan Airport by AdeniyiA(m): 12:19pm On Jul 22, 2020
While many state governors are finding excuses not to do anything because of the coronavirus, Makinde is blazing the trail in forging ahead at delivering his promises to the State. Kudos!

3 Likes

Re: Oyo Approves Issuance Of ₦100B Bond For Iseyin-Ogbomoso Road, Ibadan Airport by adenigga(m): 12:21pm On Jul 22, 2020
Maxymilliano:
Sounds good tho but hope it won't end up as another white elephant projects ...

You are a genius!

That's just my fear!!!

2 Likes

Re: Oyo Approves Issuance Of ₦100B Bond For Iseyin-Ogbomoso Road, Ibadan Airport by Intrepid01(m): 12:21pm On Jul 22, 2020
Another elephant project to steal money.

What is economic viability of an airport in ibadan ?

Except if Oyo, Osun and Oando states want to finance it so that the 3 states can be benefiting from it.

14 Likes

Re: Oyo Approves Issuance Of ₦100B Bond For Iseyin-Ogbomoso Road, Ibadan Airport by Pete520: 12:21pm On Jul 22, 2020
cool
Re: Oyo Approves Issuance Of ₦100B Bond For Iseyin-Ogbomoso Road, Ibadan Airport by AdeniyiA(m): 12:24pm On Jul 22, 2020
Intrepid01:
Another elephant project to steal money.

What is economic viability of an airport in ibadan ?

Except if Oyo, Osun and Oando states want to finance it so that the 3 states can be benefiting from it.
Not good to be shortsighted and visionless or of little vision bro

9 Likes

Re: Oyo Approves Issuance Of ₦100B Bond For Iseyin-Ogbomoso Road, Ibadan Airport by lagosrd: 12:24pm On Jul 22, 2020
Jimasun:

Says an Abia man

He is correct
Stop the hate
Re: Oyo Approves Issuance Of ₦100B Bond For Iseyin-Ogbomoso Road, Ibadan Airport by HundredWays(m): 12:24pm On Jul 22, 2020
I'm coming.. do u wanto kill me??

2 Likes

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