In late May 2016, the Lagos State Government (LASG) laid out plans for the regeneration of Oshodi into a world class Central Business District (CBD). These plans will begin with the construction of a Transport Interchange that will consolidate the 13 city and interstate bus parks in Oshodi into 3 multi-story bus terminals.
It will be completed through a Public Private Partnership initiative between the Lagos State Government via Ibile Holdings, Translink Capital Development Limited and Planet Projects Limited. The new interchange will cost an estimated $70 million according to Governor Ambode and several financial institutions have also expressed interest to be part of the project. Each bus terminal will be 30,000 square metres and will include standard facilities such as waiting areas, loading bays, ticketing stands, driver lounge, parking areas, rest rooms among others.
According to LASG, Oshodi currently accommodates about a million pedestrians and 100,000 passengers who utilise the 13 parks on a daily basis. Over the years, this has caused chronic traffic, overcrowding as well as an unhygienic environment. The Special Adviser to the Governor on Urban Development, Yetunde Onabule explained that the concept of the Oshodi regeneration plan is premised on a three pronged approach including Urban Renewal, Environmental Regeneration as well as Transformation and Security. Ambode also explained that the project was in line with his administration’s determination to transform Oshodi into a world class CBD with business, travel and leisure activities conducted in a serene, secure, clean, orderly and hygienic environment.
Watch this video to see what the new transport interchange will look like.