The figure was disclosed by the Senior Special Assistant to President Goodluck Jonathan on Public Affairs, Dr. Doyin Okupe, in an exclusive interview in Abuja on Tuesday.
Okupe said the road would consist of three lanes on either side from Lagos up to the Sagamu interchange, and two lanes from there up to Ibadan.
He also said, there would be a flyover and inter-change at the Redemption Camp of the RedeemedChristian Church of God to resolve the traffic problems on that side of the road.
Okupe said, "The Lagos-Ibadan Expressway project was awarded on Monday at a total cost of N160.7bn.
"The road project, which will be constructed by Julius Berger Construction Company and the RCC, will consist of three lanes on either side up to Sagamu junction, then two lanes up to Ibadan as well as a flyover and inter-change at the Redemption Camp to deal with the perennial traffic gridlock on that side of the road."
He promised that the Federal Government would pay proper attention to the road project, which he described as major.
He also said the contractors had started mobilising to the site, adding that the government was determined to solve the crises on the road once and for all.
"Government is serious on infrastructure. You can see that major roads like the Kano-Maiduguri, Benin-Ore, Abuja-Lokoja, Owerri-Onitsha, Katsina-Daura and East-West roads and many others are being rehabilitated or reconstructed. The second Niger Bridge has been given out on concession and work is in steady progress," the presidential aid said.
It will be recalled that the Ministerof Works, Mr. Mike Onolememen, told journalists on Monday that the contract for the reconstruction of the Lagos-Ibadan Expressway had been awarded to Julius Berger and RCC.
He, however, did not disclose the cost of the project.
Like the minister, Okupe also did not disclose the duration of the project.
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