A whooping N69 billion will be spent to build the proposed MKO Abiola International Airport in Ido-Osun, Osun.

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.

Ogundiran said that the concession arrangement would last for 30 years before the permanent transfer of ownership to the state government.

He said that the contract was first awarded on Oct. 14, 2012, at the cost of N4.5bn, noting that the project was to be completed within eight months by the government and not under a concession arrangement.

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Ogundiran said that the contract was later reviewed to gulp N11bn to be able to accommodate more features.

He said the state government had spent N3.6bn on the project before the concession arrangement, adding that the N3.6bn would be deducted from the N69bn contract sum.


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