The Infrastructure Bank Plc has completed all negotiations for the funding of the N17.8 billion Osogbo-Ilaodo road dualisation by the Osun State government, its Managing Director, Mr. Adekunle Oyinloye, has said.

Oyinloye said in a statement that the 45-kilometre road recently awarded by the state government to Sammya Nigeria Limited under a contractor financing agreement will be completed in 24 months. He said that while the Infrastructure Bank has provided "the pioneering financial solutions" for the take-off of the project, First Bank Plc had provided all the necessary bank guarantees for its total funding according to the re-payment capabilities of the state government.

"The bank is delighted to have been able to provide the catalytic financing for the project preparation and developmental funding required to enhance the bankability of the project and subsequently raise the N17.8 billion of capital required for its completion," he said.