Construction in Ibadan of 32 Km Circular Toll Road.
ENL Consortium Ltd was awarded on a Build, Operate and Transfer basis, a 32-km road construction by the Oyo State Government in 2017. This Circular Road project, also known as the East End Wing of the Circular Road, is aimed at by-passing and eliminating traffic congestion along the busy Lagos – Ibadan route by offering an alternative route through this proposed road.
It should be noted that though the Lagos – Ibadan Expressway is the busiest and most important access road in Nigeria (it links the economic nerve centre of Nigeria (Lagos State) to other states of the country), the perennial heavy traffic situation especially towards the Ibadan axis has necessitated the need for an alternative route which this project seeks to address. A ring road earlier built could not address this situation. The economic importance and viability of addressing this need therefore underpins ENL’s pursuit for and eventual award of the concession agreement for this road project. The investment on this road will be recouped via tolling in 35 years.
The feasibility studies included traffic surveys conducted by two reputable consultants including a London-based expert. The financial model that underscores the contract agreement with the Oyo State government depicts economic sustainability for the project even when the traffic count is discounted at 30% and 50%. Note that we commenced construction work in September 2017 and acquired an array of construction equipment for this purpose.
