Breaking News
Translate

FEC approves N4.8bn for Benin-Akure road project

Kindly Share This Story:
Delta state governor, Ifeanyi Okowa
File: Road

The Federal Executive Council (FEC) has approved the sum of N4.8 billion being augmentation for the Benin-Adumagbae-Igba-Akure road in Edo and Ondo State.

Minister of State for Works and Housing, Abubakar Aliyu, made this known while briefing State House correspondents after the FEC meeting on Wednesday at the Presidential Villa, Abuja.

The meeting was presided over by President Muhammadu Buhari.

“We presented a memo to the Council today; which is an augmentation of an ongoing project; it is a road project from Benin-Adumagbae-Igba-Akure Road in Edo and Ondo States.

“The contract was awarded in Dec.  2013, meaning we have inherited the project and as you all know, it is the decision of President Buhari to continue and complete all ongoing projects.’’

READ ALSO: Forex: CBN introduces longest Naira-settled Forwards contract

Aliyu said that the project was stopped for some time due to lack of funding.

According to him, the contract has to be reviewed as the contractor is going back to work.

“We have reviewed the contract from the original sum of N3.3 billion inclusive of VAT and tax, an increase of about N1.48 billion.

“It was further reviewed down through the processes of going to BPP to the total sum of N4.8 billion,’’ he said.

Vanguard

Kindly Share This Story:
All rights reserved. This material and any other digital content on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from VANGUARD NEWS.

Disclaimer

Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.
Do NOT follow this link or you will be banned from the site!