Gov Ambode concludes plans for N22.4 billion Oshodi regeneration project.

Lagos State Governor, Mr. Akinwunmi Ambode has  concluded plans to commenced construction on the regeneration and development of Oshodi into a world class transport interchange at a cost of over N22.4 billion ($70 million).

The governor who unveiled the plan at a stakeholders meeting held at Ikeja House yesterday said the interchange will be constructed into three world class terminal that will curb haphazard and indiscriminate parking and picking up of passengers by road sides by commercial bus drivers.

Governor Ambode described Oshodi as the busiest transport interchange in West Africa, with over 5,600 buses spread over 13 different motor parks loading daily, adding that the present situation in that corridor does fit into the dream of a growing mega city.

He stated that Oshodi has over 200,000 passengers boarding per day, about one million pedestrians and that 76% of the area is dedicated to transport and related activities, lamenting that the result of this was chaos, illegal markets, high human and vehicular traffic, environmental and sanitation issues and in recent times serious security challenges.

According to him,“we have a solution to the Oshodi menace. The Oshodi Interchange you see today will be replaced by an iconic, world class transportation and commercial hub. That is in keeping with the vision of this government to transform the key city centres of the State to reflect the mega city status of Lagos.

“Many of you would have been aware of the recent demolition of illegal structures and markets in this area. This was not to oppress or deny anybody their livelihood but to start the process of regenerating and recreating Oshodi. Our effort to redevelop Oshodi is aimed at improving the physical structure, security and more importantly creating the 24-hour economy which we promised.

He said the proposed redevelopment of Oshodi axis will consolidate all the 13 City and Interstate parks into 3 multi-storey bus park & terminals situated on 4 floors.

“The first terminal would be constructed at the Mosafejo Market axis and would be for Inter-state transportation, while the second terminal would be erected at the former Owonifari Market, and the third terminal to be built adjacent to NAFDAC and would be for Intra-city transport activities.

He said these terminals would have standard facilities, including waiting area, loading bays, ticketing stands; drivers lounge, parking areas, rest rooms, among others, adding that the development would include accessible walkways and pedestrian bridges/sky-walks to link all the three terminals.

“The development will introduce bus lanes, lay-bys, green parks to soften the environment, proper waste management, fencing and a dedicated security team for Oshodi. When we complete this project, we would have completely rebranded and remodeled Oshodi from a decadent situation to an iconic state. The crime rate in this area will be drastically reduced, if not eliminated.

“In addition, a shopping mall covering over two hectares will be situated in the old Mosafejo settlement. This mall will comprise recreation, entertainment; the new Oshodi bus terminal will be delivered with a Public-Private Partnership, PPP arrangement. This model allows the effective allocation of tasks and risks in the development of the interchange and also ensures that finance can be easily obtained for the project,” he explained.

He said the regeneration of the Oshodi interchange would definitely redefine the economic outlook of the area, as government’s goal was to make every nook and cranny of Lagos economically viable.

Mr. Abiodun Otuola, Managing Director, Translink Capital Development Limited, the developer of the project disclosed that the commencement date for the project would be June 1, 2016 and that the project would be completed within 13 months, adding that the cost of the project is $70 million.