Ogun awaits $350m World Bank loan to implement 50 year masterplan

Ogun state government is to access a $350 million World Bank loan for the implementation of the 50 year master plan just developed for the sustainable development of the state.

Governor Ibikunle Amosun said the master plan is broken into 20 year plan, 30 year plan, 40 year plan, terminating in 50 years.

Amosun who announced the master plan at Onidundu, during his ward-to-ward senatorial campaign in the Obafemi Owode local government area, explained that it was designed after extensive survey of Abeokuta, and other towns in the state.

The master plan, according to him replaces the 30 year masterplan that his administration inherited, adding that it covers education, infrastructure and other sectors of the state’s economy.

The governor said his administration has met all the requirements for the World Bank loan to release the loan, which according to him, will attract one per cent interest rate, with five year moratorium.

Part of the projects to be implemented under the masterplan include a formula one grand price project, a city gate, a flyover at Kobape and a ring road project passing through Kobape, Oloke, Idi Aba, Odeda, Opeji and Obada Oko axis in Abeokuta.

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