A total of 218km roads construction project has taken off in all the 30 LGAs and Ife East Area Office. A total of 10km is to be constructed in each of the LGAs. It is an innovative, yet standard road financed by the local governments but the state government is proving quality control and financial reengineering through the Ministry of Works for this project.
The project is being financed with savings from the Local Government Excess Crude Oil (ECO) Account. A sum of N5 billion is drawn from the ECO account while N10 billion is from bank financing, making a total of N16.6 billion. A sum of N5.5b has been disbursed to contractors as first tranche while such similar amounts will be disbursed when the projects are 40 percent completed.