Oyo Approves Issuance of N100 Billion Private Bond for Circular Road, Iseyin-Ogbomoso Road, Ibadan Airport Expansion

Must Read

List of United Bank for Africa (UBA) Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is held. The sort...

How To Block Your Bank Account And SIM Card In Case Of Emergency

Losing your phone and wallet or having them stolen can be very frustrating. However, in case that happens to...

List of First Bank of Nigeria Sort Codes in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is held. The sort...
- Advertisement -

…Bond to Take Care of Construction and Upgrade of Hospitals, Ibadan Dry Port and Rail Corridor Development – Commissioner

The Oyo State Executive Council on Tuesday approved the issuance of a N100 billion private bond tagged “Oyo Prosperity Bond” to facilitate the execution of priority projects that will further drive economic development in the State.
This was disclosed in Ibadan by the Commissioner for Information, Culture and Tourism, Dr Wasiu Olatubosun, after the State’s weekly Executive Council’s virtual meeting.

Oyo Approves Issuance of N100 Billion Private Bond for Circular Road, Iseyin-Ogbomoso Road, Ibadan Airport Expansion - Brand Spur
Oyo State Governor, Seyi Makinde

Olatubosun disclosed that the fund would be raised in two tranches of N50 billion each for the construction of the 50-kilometre Iseyin-Ogbomoso road, the Ibadan Circular Ring-Road and Ibadan Airport upgrade.

The fund will also covered the development of Ibadan Dry Port and rail corridor that he said would serve as economic hubs of the State.

The Commissioner stated further that the State would construct and upgrade, with modern equipment, one Government hospital in each of the three senatorial districts of the State.

In addition, the 21-kilometre Airport – Ajia – New Ife Express Road with a spur to Amuloko in Ibadan would also benefit from the alternative project funding approach of the State Government.

- Advertisement -

According to the Dr Olatubosun, “considering the infrastructural needs of Oyo State to enhance its economic potentials, the State Government has approved the issuance of private bond tagged “Oyo Prosperity Bond” to facilitate the execution of priority projects with a view to raising one hundred billion Naira (N100bn), which is to be raised in two tranches of fifty Billion Naira (N50bn) each.”

“The State Government has approved Oyo State Prosperity Bond to allow for quick completion of these iconic priority projects. The construction of Iseyin – Ogbomoso Road is very important because when completed, it will serve as a link road and help to save many hours spent on travelling and the lives of commuters, who daily experience vehicular accidents on various roads that link the already dilapidated Ogbomoso Road.”

The Commissioner hinted that the 21-kilometre Airport – Ajia – New Ife Express Road with a spur to Amuloko would be executed by Messrs Peculiar Ultimate Concerns Ltd at a total cost of Eight Billion, Five Hundred and Twenty Million, Nine Hundred and Nineteen Thousand, Seven Hundred and Seventy-Six Naira, Forty-One Kobo (N8,520,919,776.41).

Read Also:  WOW!!! Amazon Founder, Jeff Bezos To Give His Wife $35 Billion For Divorce, Making Her Third Richest Woman In The World

The project funding, Wasiu explained, would be in the form of Alternative Project Funding Approach (APFA), which allows for Public-Private Partnership for funding of infrastructural projects in the State.

- Advertisement -

“With this approach in place, there will be the transfer of projects’ risk to the private entity while the hassle of debt management office (DMO) approval would be avoided and the quality delivery, as well as quick completion of the project, would be ascertained,” Olatubosun said.

Meanwhile, the Oyo State Executive Council has also approved the establishment of the Oyo State Development Agency for Socio-Economic Advancement (OYODASA) to give room for the residents of the State to have a better understanding of Government’s goals and help establish a shared vision between communities within the State and the State administration.

Dr Olatubosun said the purpose of the agency was to booster participation in Governance at the grassroots levels, adding that the Government would establish offices for the agency in seven zones and in all the Local Government Areas of the State.

“The agency will ensure Government’s programmes and policies are better understood by the general public, mobilise favourable opinions for such programmes and policies, encourage informal education through public enlightenment activities and publications, and establish an appropriate framework for educating and orientating residents of the State towards developing socially desirable attitudes, values and cultures.

- Advertisement -

“It will also encourage the people to take part actively and freely in discussions and decisions affecting their general welfare while promoting new sets of attitude and culture for the attainment of the goals and objectives of the State.

“OYODASA will work to instil in the populace, a sense of loyalty to their fatherland, ensure and uphold leadership by example and foster respect for constituted authority,” he explained.

- Advertisement -
Oyo Approves Issuance of N100 Billion Private Bond for Circular Road, Iseyin-Ogbomoso Road, Ibadan Airport Expansion - Brand SpurOyo Approves Issuance of N100 Billion Private Bond for Circular Road, Iseyin-Ogbomoso Road, Ibadan Airport Expansion - Brand Spur

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

- Advertisement -

2 COMMENTS

  1. […] https://brandspurng.com/2020/07/22/oyo-approves-issuance-of-n100-billion-private-bond-for-circular-r… […]

  2. […] Oyo Approves Issuance of N100 Billion Private Bond for Circular Road, Iseyin-Ogbomoso Road, Ibadan Airport Expansion…Bond to Take Care of Construction and Upgrade of Hospitals, Ibadan Dry Port and Rail Corridor Development – CommissionerThe Oyo State Executive Council on Tuesday approved the issuance of a N100 billion private bond tagged “Oyo Prosperity Bond” to facilitate the execution of priority projects that will further drive economic development in the State.This was disclosed in Ibadan by the Commissioner for Information, Culture and Tourism, Dr Wasiu Olatubosun, after the State’s weekly Executive Council’s virtual meeting.Olatubosun disclosed that the fund would be raised in two tranches of N50 billion each for the construction of the 50-kilometre Iseyin-Ogbomoso road, the Ibadan Circular Ring-Road and Ibadan Airport upgrade.The fund will also covered the development of Ibadan Dry Port and rail corridor that he said would serve as economic hubs of the State.The Commissioner stated further that the State would construct and upgrade, with modern equipment, one Government hospital in each of the three senatorial districts of the State.In addition, the 21-kilometre Airport – Ajia – New Ife Express Road with a spur to Amuloko in Ibadan would also benefit from the alternative project funding approach of the State Government.According to the Dr Olatubosun, “considering the infrastructural needs of Oyo State to enhance its economic potentials, the State Government has approved the issuance of private bond tagged “Oyo Prosperity Bond” to facilitate the execution of priority projects with a view to raising one hundred billion Naira (N100bn), which is to be raised in two tranches of fifty Billion Naira (N50bn) each.”“The State Government has approved Oyo State Prosperity Bond to allow for quick completion of these iconic priority projects. The construction of Iseyin – Ogbomoso Road is very important because when completed, it will serve as a link road and help to save many hours spent on travelling and the lives of commuters, who daily experience vehicular accidents on various roads that link the already dilapidated Ogbomoso Road.”The Commissioner hinted that the 21-kilometre Airport – Ajia – New Ife Express Road with a spur to Amuloko would be executed by Messrs Peculiar Ultimate Concerns Ltd at a total cost of Eight Billion, Five Hundred and Twenty Million, Nine Hundred and Nineteen Thousand, Seven Hundred and Seventy-Six Naira, Forty-One Kobo (N8,520,919,776.41).The project funding, Wasiu explained, would be in the form of Alternative Project Funding Approach (APFA), which allows for Public-Private Partnership for funding of infrastructural projects in the State.“With this approach in place, there will be the transfer of projects’ risk to the private entity while the hassle of debt management office (DMO) approval would be avoided and the quality delivery, as well as quick completion of the project, would be ascertained,” Olatubosun said.Meanwhile, the Oyo State Executive Council has also approved the establishment of the Oyo State Development Agency for Socio-Economic Advancement (OYODASA) to give room for the residents of the State to have a better understanding of Government’s goals and help establish a shared vision between communities within the State and the State administration.Dr Olatubosun said the purpose of the agency was to booster participation in Governance at the grassroots levels, adding that the Government would establish offices for the agency in seven zones and in all the Local Government Areas of the State.“The agency will ensure Government’s programmes and policies are better understood by the general public, mobilise favourable opinions for such programmes and policies, encourage informal education through public enlightenment activities and publications, and establish an appropriate framework for educating and orientating residents of the State towards developing socially desirable attitudes, values and cultures.“It will also encourage the people to take part actively and freely in discussions and decisions affecting their general welfare while promoting new sets of attitude and culture for the attainment of the goals and objectives of the State.“OYODASA will work to instil in the populace, a sense of loyalty to their fatherland, ensure and uphold leadership by example and foster respect for constituted authority,” he explained. https://brandspurng.com/2020/07/22/oyo-approves-issuance-of-n100-billion-private-bond-for-circular-r… […]

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Oyo Approves Issuance of N100 Billion Private Bond for Circular Road, Iseyin-Ogbomoso Road, Ibadan Airport Expansion - Brand SpurOyo Approves Issuance of N100 Billion Private Bond for Circular Road, Iseyin-Ogbomoso Road, Ibadan Airport Expansion - Brand Spur

Latest News

Ultimaker Transformation Summit: How to remain flexible and productive as a business in a volatile world

Ultimaker CEO Jürgen von Hollen reveals it all during the Ultimaker Transformation Summit April 20-23rd

 

UTRECHT, THE NETHERLANDS - Media OutReach - 13 April 2021 - The COVID-19 pandemic sent shockwaves through the worldwide manufacturing community, as transport and workplace restrictions frustrated supply chains across the planet. And then, more recently a container ship got stuck in the Suez Canal. Disrupting global supply chains, again. But a crisis can also result in opportunities. And 3D printing is one of these opportunities, already being used by some companies worldwide to drive transformation and ensure business continuity in a volatile market.

The 2021 3D Printing Sentiment Index, conducted by international research firm Savanta in late 2020, showed that leading companies wasted no time in showing their entrepreneurship by finding alternatives to ensure business continuity and many turned to 3D printing as a game-changer in adverse times. The Index is a measure of market awareness and adoption as well as sentiment towards the potential impact of 3D printing technology. While the awareness for the technology has increased since last year, 29% of businesses who could potentially use 3D printing have no current familiarity with the technology. This means there is still considerable untapped opportunity in industries worldwide​. The adoption of 3D printing also increased in 2020, likely driven by the COVID-19 pandemic as businesses looked for more reliable solutions for prototyping and local manufacturing, less at risk from global volatility. While 1-in-3 businesses surveyed are currently using 3D printing, the Index data shows it is only fully embedded in 1-in-10. And that needs to change.


The Ultimaker Transformation Summit

The Ultimaker Transformation Summit is therefore set up to inspire and inform businesses of any size worldwide how 3D printing can help to transform. This free online summit, being held April 20-23, features vision keynotes, product launches, and demonstrations. A fully customized, interactive showroom brings the Ultimaker ecosystem to life. It gives participants full control to discover Ultimaker's product portfolio, engage with 3D printing experts via live chat, and meet software and material partners that are part of the ecosystem. Real-world applications that have helped customers transform their businesses with 3D printing in this volatile market are displayed in such a way that participants can discover them at their own pace. This summit is the place to be for decision-makers, engineers, and innovators – from large global companies to SMEs – who want to start their transformation today. Save your seat, register today.

Jürgen von Hollen, CEO at Ultimaker: "In a complex and rapidly changing market, innovation is essential for future-proofing manufacturing. During the Ultimaker Transformation Summit we will inspire our guests together with trusted partners how to drive truly successful transformation today and tomorrow. I will also be revealing how Ultimaker is transforming as a company during the opening keynote on Tuesday April 20th, 17:00 CEST. Furthermore, we will be announcing some exciting new solutions that help to make that desired transformation happen. Since we greatly miss the direct interaction with our prospects and customers at physical events – and because we have these exciting updates to share – we decided to open our doors and welcome you to a unique online experience to start your transformation journey today."


Oyo Approves Issuance of N100 Billion Private Bond for Circular Road, Iseyin-Ogbomoso Road, Ibadan Airport Expansion - Brand Spur
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -Oyo Approves Issuance of N100 Billion Private Bond for Circular Road, Iseyin-Ogbomoso Road, Ibadan Airport Expansion - Brand SpurOyo Approves Issuance of N100 Billion Private Bond for Circular Road, Iseyin-Ogbomoso Road, Ibadan Airport Expansion - Brand Spur