FG orders repair of Oyo-Ogbomoso, 43 other roads

SEVERAL roads including Oyo-Ogbomosho road now under construction with 43 others would soon witness a drastic transformation going by the promise made by President Muhammadu Buhari on January 1, 2017.

President Buhari, who said in a New Year nationwide broadcast that the Federal Road Maintenance Agency (FERMA) had been restructured for improved performance, declared that the agency was also given 12 weeks to fix a number of major roads in bad condition.

He said 44 roads would be given a new look by FERMA, adding that the roads cut across the six geo-political zones of the country.

The President added that 25 major roads would be funded with the N100bn Sukuk facility, saying that each geo-political zone would get an equal amount of N16.67bn.  The Sukuk is an Islamic bond, structured in such a way as to generate returns to investors without infringing on Islamic law.

The Federal Government last October announced the commencement of the sale of a N100bn ($326m) seven-year Islamic bond on the local market, which the Debt Management Office (DMO) said would yield a 16.47 per cent rental rate and payable semi-annually.

The roads that would receive special attention were given as Oyo–Ogbomosho; Ofusu–Ore–Ajebandele–Shagamu; Yenagoa Road junction–Kolo Otuoke–Bayelsa Palm; Enugu–Port-Harcourt Dual Carriage Way; Onitsha–Enugu Expressway Bypass.

Others would involve the dualisation of Kano–Maiduguri Road; Abuja–Lokoja–Benin Road, and Suleja–Minna Road.

“In addition, government has approved work to start on the reconstruction of Abuja–Kaduna–Zaria–Kano road which is in a state of disrepair, work will soon start and is expected to be completed in 2019,” the president said.


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