Oyo State to Access 16.2bn From Two Foreign Banks, Procuure 100 Security Vans At 5.7bn
…As 8.43km Fashola, 37km Alako/Idi-Iya/Batake/Olowa and 22km Oloko/Oyo Junction–Ikere roads slated for rehabilitation
The Oyo State Government has approved the release of ₦900,000,000 (Nine Hundred Million Naira) as counterpart funding for the construction of 68km roads across the state.
The counterpart funding will ensure that the state government accesses ₦16,273,711,000 (Sixteen Billion, Two Hundred Seventy-Three Million, Seven Hundred and Eleven Thousand Naira) from two International Financial Bodies: the International Development Association (IDA) and the Lagence Francaise Development Agency (AFI).
In a release after the executive council meeting held at the Executive Council Chamber, the Commissioner for Information, Prince Dotun Oyelade, said that with the executive council’s approval of the counterpart funding, many critical road maintenance works will commence.
According to him, these include the rehabilitation of the 8.43km Fashola Farm Settlement, the 37km Alako/Idi-Iya/Batake/Olowa Farm Settlement and Ijaye roads. The 22km Oloko/Oyo Junction and Ikere roads will also be affected, among others.
The executive council also approved the improvement of the Light-Up Oyo State infrastructure, which has now extended beyond Ibadan metropolis, at a total cost of ₦2,602,800,000 (Two Billion, Six Hundred and Two Million, Eight Hundred Thousand Naira) as operational and maintenance expenditure for the year 2026.
Council also approved the upward review of the contract sum for the Oyo State Business Process Automation (BPA) project.
According to Oyelade, this project, which was the vision of Governor Seyi Makinde since 2022, is focused on modernizing the civil service through technology.
The project, which was initially awarded for ₦400,000,000 (Four Hundred Million Naira), will now be awarded for ₦578,035,714 (Five Hundred and Seventy-Eight Million, Thirty-Five Thousand, Seven Hundred and Fourteen Naira) in the light of contemporary economic reality.
Some of the benefits of the Business Process Automation (BPA) project are to streamline civil service operations, strengthen record management and accountability across MDAs, enhance the speed and quality of government services to the public, and train technical staff to ensure long-term maintenance of the software solution.
In pursuit of its objective to keep Oyo State safe and secured Council also approved the purchase of 100 double-cabin pick-up trucks (80 Mitsubishi L200 and 20 Toyota Hilux) at a cost of ₦5,772,500,000 (Five Billion, Seven Hundred and Seventy-Two Million, Five Hundred Thousand Naira).
