Relief for residents, businesses as OPIC partners investors on Agbara Road reconstruction

Respite has come the way of residents and businesses in Agbara industrial and residential estates managed by Ogun State Property and Investment Corporation (OPIC) as the corporation has partnered investors on the axis to reconstruct the roads through a Public Private Partnership arrangement.

OPIC, investors as well as hundreds of residents along the axis under Ado-Odo/Ota Local Government Area of the state had earlier entered into an agreement which specified collective financing of the reconstruction project.

According to official information, the industrial and the residential estates in Agbara have 5 kilometres of road each. They are therefore exploring mutual financing agreement through PPP with the state government, which will contribute 70 percent of the total cost, while the investors contribute 30 percent.

Speaking recently while presenting cheques to OPIC as part of the 30 percent contribution, Bayo Ikujenyo, president, Ogun State Chamber of Commerce, Industries, Mines and Agriculture (OGUNCCIMA), disclosed that the investors’ partnership with government was initiated by Flour Mills Nigeria plc.

Ikuyenjo said that OPIC came to the rescue of investors and residents in that axis immediately a letter was sent to it asking the state government to reconstruct the damaged roads. He assured that investors would continue to assist the government in the socio-economic development of the state.

Responding, Jide Odusolu, managing director, OPIC, noted that the reconstruction of the roads was a demonstration of “holistic revitalisation of the state’s economy”, adding that it was a carefully articulated action designed to rebuild the state.

“I can tell you that His Excellency is happy with this. And we are ensuring that what we are creating in Agbara at present is being replicated in all other parts of the state. We will continue to expand the infrastructure until we get to our borders,” he said.

RAZAQ AYINLA