The Oyo State Government has approved N100bn private bond tagged the Oyo Prosperity Bond to facilitate the execution of priority projects in a bid to drive the state’s economic development.

This was disclosed in Ibadan by the Commissioner for Information, Culture and Tourism, Dr Wasiu Olatubosun, after the weekly State Executive Council meeting.

The SEC meeting was held virtually in compliance with the COVID-19 protocols.

According to Olatubosun, the fund would be raised in two tranches of N50bn each for the construction of the 50-kilometre Iseyin-Ogbomoso Road, the Ibadan Circular Ring-Road and the upgrade of the Ibadan Airport.

The fund will also cover the development of Ibadan Dry Port and the rail corridor which would serve as economic hubs of the state.

The commissioner stated further that the state would upgrade one government hospital in each of the three senatorial districts of the state.

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