The Federal Government says it has spent N2.8 billion on the rehabilitation and reconstruction of Gbongan-Iwo-Oyo Road.
The Minister of Works, Power and Housing, Mr Babatunde Fashola stated this in Gbongan, Osun State, while inspecting the project.
Mr. Fashola said that the road was awarded to Kopek Construction Company by the previous administration in 2011 at the cost of N6.9 billion.
The Minister said the Federal Government is committed to the speedy completion of the road.
He said that the contract, with 18 months completion period, was delayed for three years by the previous administration due to delay in release of funds.
Mr. Fashola said that the current administration had been providing funds to the construction company.
The Minister said that government was working on the review of the contact rate to accommodate changes in prices of materials.
The Federal Controller of Works in Osun, Mr Wasiu Atiteb said that the 32.2 Kilometre road links Gbongan, Iwo in Osun state and Ibadan in Oyo state.