The Lagos State Government (LASG) has inaugurated the upgrading of the 1.8km Victoria Island-Oniru Road.
Gov. Babajide Sanwo-Olu in his speech during the inauguration said that the project was part of his administration’s commitment to better road networks for the residents of the state.
Sanwo-Olu said that the project was being executed through the Public Infrastructure Improvement Partnership (PIIP) arrangement.
The governor added that it was conceptualised four months ago by Planet Projects at the instance of Access Bank Plc, the major partner.
He said that the partnership was another deliberate action to solve traffic congestion and relieve Lagos residents of pain.
“’This flag-off is another milestone we have achieved through partnership with the private sector to deliver projects that will directly impact lives.
“’We came to this area about four months ago for a presentation at Four Points and we told our partners that immediately the rain subsides, we will come back and start the development of Oniru Road into Victoria Island from Lekki.
“I am happy that within the short time frame, a lot of work has been done. We are here today, with the stoppage of the rains, work can now start immediately.
“It is a strong point that we deliver on our commitments. I want to assure you that we will deliver on all the commitments we had made. Work will start in earnest,” the governor said.
Sanwo-Olu also said that the inauguration of the project was a validation of his administration’s commitment to regenerate, upgrade and develop the entire Victoria Island and Oniru axis.
He appealed to the residents of the area to cooperate with the contractors, saying that the project construction might come with some pains.
He said that the citizens would reap the full benefits of it in a matter of months.
The governor said that the project would be completed in six months.
He commended Access Bank Plc for supporting the government to regenerate the Oniru-Victoria Island-Lekki circulation.
He said that the development would bring good traffic modulation and flow to the axis.
In her remarks, the Special Adviser to the Governor on Works and Infrastructure, Mrs Aramide Adeyoye, said that the project was significant because it involved the private sector’s participation.
Adeyoye said that the private sector had become a critical partner in the growth and development of the economy of Lagos State.
She said the private sector, which controls about 80 per cent of the state’s Gross Domestic Product (GDP) was crucial in the government’s drive toward bridging the infrastructure gap and to also position Lagos as a smart city.
“Access Bank has keyed into one of the ways to realise the state’s objective of making Lagos a 21st Century economy.
“It has done this by partnering the State Government in Infrastructural upgrading of Oniru network of roads under a Public Infrastructure Improvement Partnership (PIIP) arrangement.”
The Managing Director of Access Bank Plc, Mr Hubert Wigwe, said that the financial institution entered into the partnership to promote the socio-economic growth of the state and enhance residents’ productivity.
Wigwe, who was represented by the bank’s Executive Director, Mr Victor Etuokwu, said that the bank would remain committed to help the Lagos State Government deliver infrastructure that would be economically sustainable.
Also, the Managing Director of Planet Projects, Mr Biodun Otunola, gave the details of the construction work.
He said that the project would lead to the construction of Alaba Oniru Road, Akingbolagbe Road to Muri Okunola Roundabout.
Otunola said that there would be regeneration of seven junctions prone to traffic on the axis.
He said that the total length of the construction work would be 1.8km, as the construction would be purely concrete to ensure durability.
According to him, the materials to be used will be sourced locally and the project will be completed by May 2020.