The Federal Executive Council on Wednesday approved N72.9 billion for the reconstruction of the road from Apapa to the toll gate on Lagos-Ibadan expressway project.
The project, which is being executed by Dangote Group through a Public-Private Partnership model, finally got the FEC’s approval for funding after prolonged years of neglect which had worsened its state of dilapidation tremendously.
The Minister of Power, Works and Housing, Mr. Babatunde Fashola, who made this disclosure after the weekly FEC meeting in Abuja, said that the N72.9 billion for the execution of the project would be recovered through the funding credit tax policy of government.
Fashola explained that said when fully constructed, the road would have five lanes on each side, with a total of 270.8 linear kilometres, including drainage, rehabilitation of some of the bridges and interchanges.
The minister said that the decision was taken to provide a long-term solution to the lingering traffic gridlock over the past months on the road and by implication, ensure its durability.
He explained: “The Ministry of Power, Works and Housing secured approval for the reconstruction of the Creek Road Tin Can Island-Beachland right through to Oworoshoki to the toll gate end of the Lagos-Ibadan Expressway for the full reconstruction of that road which was built around 1975, as part of our first port expansion undertaken then in the 1970s.
“That road was intended to evacuate cargo out of Lagos without running through the spine of the city. The road is now in some state of disrepair and Council has approved its reconstruction at the cost of N72.9bn.
“First, it will be done through PPP model. The constructing company will be the Dangote Group. It will be financing that construction to the tune of N72.9 billion as certified by PPP”, Fashola added.
According to him, this project will be the first full reconstruction of the road since its construction about 43 years ago.
The minister clarified further: “All previous efforts had been to repair damaged sections. So, it is going all the way to reconstruct the road. The third thing to note is that the entire construction is that it involves procurement of 27.8 kilometres made up of 10 lanes – five lanes on both sides – three on the main carriage way, two on service lanes.
“So, essentially, you are constructing about 79.8 linear kilometres and that also include drainage and use of extensive cement work and rehabilitation of bridges.
“We expect contractors to move to site. This is our own long term solution to the problem contributed by the road congestion there”, he added.