President Muhammadu Buhari has approved the reconstruction of the BeninSapeleWarri expressway, according to the Minister of State for Budget and National Planning, Mr Clem Agba.
According to Mr Agba, in a statement on Wednesday in Abuja issued by Mr Sufuyan Ojeifo, Special Adviser on Media to the Minister, President Buhari approved the road reconstruction during Wednesdayacirc128153s Federal Executive Council (FEC) meeting.Advertisement
Agba disclosed that the reconstruction was approved under the Federal Government Road Infrastructure Development and Refurbishment Investment Tax Credit by the Nigerian National Petroleum Company Limited (NNPCL).
The report revealed a breakdown of the sections of the road that had been awarded for reconstruction.Advertisement
acirc128156Section one, made up of the 28.275 kilometre long Benin acirc128147 Imasabor in favour of Messrs Levant Construction Company Limited in the sum of N98,916,451,227.28 inclusive of 7.5 per cent VAT with a 24 months completion period.
acirc128156Section two, made up of 38.525 kilometre long ImasaborIbada Elume in favour of Messrs GELD Construction Company Limited/Triata Limited in the sum of N127,648,926,047.37 inclusive of 7.5 percent VAT with a 36 month completion period.Advertisement
acirc128156Section three made up of 23.2 kilometre long Ibada ElumeWarri in favour of Messrs SKECC Nigeria Limited in the sum of N89,142,998,919.59 inclusive of 7.5 percent VAT with a 42 month completion periodacirc128157.
Agba said that he was delighted that the contract was fresh unlike the BeninOkene road contract that had existed for years and was yet to be completed.Advertisement
He, however, said that the contractors in charge of the BeninOkene road work were yet to mobilise due to inflationary trend that had affected the original costs of the project.
He said that augmentation of the rates is currently being processed by the Ministry of Works.Advertisement Advertisement
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