The Oyo State Government has approved over N332 million for the renovation of the Governor’s Lodge located in Lagos State.
PLATFORM TIMES reports that this was disclosed in a statement released after the State Executive Council meeting held on Wednesday.
In addition to the lodge renovation, several other crucial projects were approved during the meeting, reflecting the government’s commitment to infrastructural development and welfare enhancement across the state.
Among the notable approvals was the regularisation of employment for 129 workers at the Ministry of Agriculture and Rural Development, aimed at ensuring they receive the full benefits entitled to civil servants.
The State Executive Council reportedly sanctioned the commencement of the clearing of the North-East segment of the Rashidi Ladoja Circular Road, stretching 110 kilometers.
Awarded to M/S Picoraod Company Ltd at a cost of N3.5 billion, the project entails bush clearing, removal of topsoil, construction of culverts, and other earthworks, contributing to improved transportation infrastructure within the state.
Another significant allocation was earmarked for the asphaltic improvement of the dualized Mapo-Oritamerin Road, extending 0.5 kilometers.
Ratcon Construction Company Limited secured the contract at a sum of N373,809,539.41, enhancing road connectivity and facilitating smoother vehicular movement.
In a strategic move to fortify the state’s financial future, N691,307,039.86 has been designated for investment in Wema Bank’s rights issuance program.
This investment aligns with the government’s long-term vision for sustainable economic growth and financial stability.
Additionally, the approval of a N10 billion facility underscores the government’s commitment to partnering with international organizations like the World Bank to implement vital programs such as BESDA, Oyo-CARES (NG-CARES), and NEWMAP, aimed at addressing critical developmental challenges and improving the quality of life for citizens.
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