Rauf Aregbesola of Osun has said his administration will spend N48.73 billion on the Ilesa water and sanitation project.
He said that a huge part of the funds for the project, which was 65 million U.S. dollars (about N23 billion), had been obtained from the Islamic Development Bank (IDB) in Saudi Arabia.
He added that the loan had a repayment period of 25 years.
Aregbesola said the contractor handling the project, which was appointed by IDB, had given an assurance that the project would be completed within 24 months.
He expressed the hope that by December 2019, the water project, including the waterworks, would be fully operational.
He said three reservoirs, which had the capacity of producing 60 million litres of water per day, would be constructed in the course of the project.
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