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For example, we had to increase the width of the road from
10.75m to 12.75m to meet the federal government
specications. We are executing the project using the
Alternative Project Funding Approach (APFA).
Let me take a few minutes to talk about our approach to
executing projects in Oyo State.
Some people are still confused as to how we are still
agging off projects when some states are nding it
difcult to pay salaries. They do not understand how we are
raising Oyo State's Internally Generated Revenue (IGR),
building our economy and engineering a modern Oyo State.
With APFA, the contractor funds the project, and we pay back
over an agreed period of time. And let me make this clear: you
have my word that not one Naira will be left unpaid to any
contractor under APFA at the end of our current tenure.
For example, for this project, which was awarded in June this
year, the repayment period is seventeen (17) months. This
means that the project will be completed before all the
repayments are made. However, the last repayment will be
made by December 2022.
And so, what do they do?
They go to town with stories.
Seyi Makinde is taking on hidden debts. He is going to turn our
children into slaves. The debt he is leaving, we don't know
how many years it will take us to pay it.
All lies, fake news and disinformation.
Our secret to carrying on these projects is the
Alternative Project Funding Approach (APFA). And I can
say it's an open secret. Because from when we started using it,
we have always been open and transparent about it.