The government of the State of Osun, said on Monday, that it will spend N 2.7 billion net of all taxes on the construction of the flyover at Olaiya Intersection.
It has also announced that the Public Procurement Agency has issued approval of “No-Objection/Due Process Certification” for the award of the contract for the construction of the flyover.
The disclosure, which was sequel to a memorandum by the Ministry of Works and Transport to the State Executive Council was made on Monday by the Commissioner for Information and Civic Orientation, Mrs Funke Egbemode, after the week’s edition of the State Executive Council Meeting.
The total sum, presented as Three Billion, One Hundred and Eight Million, Three Hundred and Seventy-Nine Thousand, Eight Hundred and Twenty-Nine Naira, Seventy-Six Kobo (N 3,108,379,829.76), comprises the net sum of N 2,688,748,552.74 and a 13.5 percent statutory deductions which include the percentage withholding tax, 7.5 percent Value-Added Tax and 1 percent stamp duty deduction.
Recall that the government of the State of Osun had announced its decision to construct a flyover at the Olaiya Intersection, Osogbo, to both address recurring accidents and decongest traffic at the Intersection.
It would also be recalled that the government announced that the Alternative Project Funding Approach (APFA) would be adopted for the funding of the project.
The information contained in this post is for general information purposes only. Opinion articles, comments are solely the responsibility of the author and does not necessarily reflect the views of BlazeNewz while we endeavour to keep the information accurate with objectivity as we adhere to global practice of journalism. Read our full Disclaimer.
Politics1 year ago
Breaking: Appeal Court Sacks Ekiti APC Senator, Adeyeye Declares PDP, Olujimi Winner
News1 year ago
I’m Not Afraid Of Death– Obasanjo
Politics2 years ago
Rivers Guber ”In The End, It Will Be A Sweet Victory” Wike Tells Party Members
Sponsored Posts2 years ago
Come And Learn Yoruba Traditional Druming and Dancing
Foreign11 months ago
Breaking : Another Virus, Hantavirus Surfaces In China
News3 weeks ago
Breaking : Buhari Appoints Zanna Mohammed Ibrahim As Acting IG
News4 weeks ago
Prices Of Rice , Other Major food Items Crash
Economy4 months ago
Cement Price Drops – Check Out The Current Price