The proposed M. K. O Abiola International Airport in Ido-Osun, Osun, will cost N69 billion under a concession arrangement with an indigenous company, AWOL International, an official has said.

The Director of Public Building in Osun State Ministry of Works, Niyi Ogundiran gave the figure at a meeting with members of the state Assembly in Osogbo on Thursday.

Highlights:

• Ogundiran said that the concession arrangement would last for 30 years before a permanent transfer of ownership to the state government.
• He said that the contract was first awarded on Oct. 14, 2012, at the cost of N4.5 billion, noting that the project was to be completed within eight months by the government and not under a concession arrangement.
• Ogundiran said that the contract was later reviewed to gulp N11 billion to be able to accommodate more features.
• He said the state government had spent N3.6 billion on the project before the concession arrangement, adding that the N3.6 billion would be deducted from the N69 billion contract sum.

In his remarks, the Deputy Speaker of the Assembly, Adegboye Akintunde urged all those in charge of the project to ensure its success.

Mr Akintunde said that Osun people were watching with keen interest to know the outcome of the arrangement.

Omoleye Omoruyi

Omoleye Omoruyi… an apprentice web/game developer, novelist, sensitive to happenings in the world. Meet him @Lord_rickie on Twitter/Instagram