The Minister of Works, Dave Umahi, has announced that the completion of the Lagos-Ibadan Expressway is scheduled for mid-September, years after reconstruction commenced on the ever-busy route.
The minister made the statement on Tuesday during a visit to the sites of completed and ongoing Federal Government projects in the Lagos State.
The Lagos-Ibadan Expressway is a 127.6-kilometre-long dual carriageway that connects Lagos, the commercial capital of Nigeria, with Ibadan, the largest city in West Africa.
The expressway is also a major route for travellers and commuters to other parts of the country.
The expressway was constructed in the 1970s and has since deteriorated due to heavy traffic and poor maintenance.
The reconstruction of the expressway began in 2013 under a public-private partnership arrangement between the Federal Government and two construction companies, Julius Berger and Reynolds Construction Company (RCC).
The project was initially expected to be completed in 2017, but was delayed by several factors, including funding constraints, land acquisition issues, and compensation disputes.
The minister said that construction work is ongoing on the last stretch of both sides of the expressway after several missed deadlines.
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He said that the Federal Government is committed to delivering the project as soon as possible to ease the suffering of road users and boost economic activities along the corridor.
He also expressed satisfaction with the quality and pace of work done by the contractors.
The inspection tour started at outer Marina Road, in Victoria Island, a project constructed under the SUKUK financing option by the Federal Government.
The SUKUK bond is an Islamic bond that complies with Sharia law and does not involve interest payments. The Federal Government raised N100 billion through SUKUK bonds in 2017 and 2018 to fund 25 road projects across the country.
The minister said that the outer Marina Road project is one of the successful examples of SUKUK financing in Nigeria.
He said that the project has improved the aesthetics and functionality of the road, which serves as a link between Victoria Island and Ikoyi. He also commended the contractor for delivering the project within budget and time.
The minister also visited other projects in Lagos State, such as Apapa-Oshodi-Oworonshoki Expressway, Third Mainland Bridge, Eko Bridge, and Lagos-Ibadan Railway.
He said that these projects are part of the Federal Government’s efforts to improve infrastructure and enhance socio-economic development in Nigeria
