As part of core operational coverage within subSaharan Africa, African Finance Corporation (AFC) has rolled out its strategic plans to fund some critical road infrastructure in Ogun State in both medium and long terms.
The arrangement to finance critical road infrastructure in the state in accordance with the AFC’S four cardinal operational points, which covers principal investing, project development, financial advisory as well as Environmental and Social Management, was reached in Abeokuta on Wednesday between AFC and Ogun State government.
Topping the list of roads planned to be constructed are critical industrial roads such as Atan-lusada-igbesa-agbara road, the major industrial road that links Ogun state with Lagos state and Benin Republic through Badagry-seme border and Ogun state with Benin Republic via Idi-iroko border road, all in Ado-odo/ota local government area of the state.
The other roads to be constructed also include SagamuOgijo-ikorudu road that links Sagamu-ogijo industrial estate with Lagos state as well as Lagos-ibadan expressway, just as that of Ijebu-ode-epe and Ajah road for which Governor Dapo Abiodun of Ogun state and Governor Babajide SanwoOlu of Lagos state are already in talks with Federal Government for possible takeover.
Read also; Airtel extends internet coverage to Ogun community
Speaking on the strategic plan to fix the identified road infrastructure in the state, Taiwo Adeniji, senior director, ABC, said the AFC in partnership with the private sector focuses more on roads, power, and telecommunication and heavy industry projects and was currently developing infrastructures in 28 African countries.
The senior director at the AFC, who led a four-man delegation to Ogun State, noted that the visit was to see how the AFC would help in developing infrastructure that could assist in economic growth and driving more development in Ogun State.
He said, “We focus on roads that have commercial viability, the roads that can pay for themselves. Atan-agbara and Epe-ijebu-ode roads are some of the roads that can be done on Public Private Partnership basis.
“African Financial Corporation brings in its technical capacity and the finance to fix the roads and the users pay a token amount. We intend to engage with the industries within the industrial areas and discuss these roads with them. We will be transparent, we will let them know how much the roads will cost and how it is going to be paid for.
“We think that would be a better arrangement than the current situation where the roads are impassable. We have done similar projects in other African countries and the people there are better for it.”
