Minister of State for Budget and National Planning, Mr Clem Agba, has commended President Muhammadu Buhari for approving the reconstruction of the Benin, Sapele, Warri road.
This is contained in a statement on Wednesday in Abuja issued by Mr Sufuyan Ojeifo, Special Adviser on Media to the Minister.
Ojeifo said that the Minister gave the appraisal after the reconstruction contract was approved during Wednesday’s Federal Executive Council (FEC) meeting.
The Minister said that road sections were 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.
“ Section one, made up of the 28.275 kilometre long Benin – 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.
“Section two, made up of 38.525 kilometre long Imasabor-Ibada 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.
“Section three made up of 23.2 kilometre long Ibada Elume-Warri 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 period”.
Agba said that he was delighted that the contract was fresh unlike the Benin-Okene road contract that had existed for years and was yet to be completed.
He, however, said that the contractors in charge of the Benin-Okene 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.
