In a bid to ensure the early completion of the ongoing Benin-Lokoja highway road rehabilitation, the Federal government has awarded a 60km section project to BUA Cement PLC under the NNPCL Funding and Infrastructure and Development Refreshment Investment Tax Credit Scheme.
The 60km road would be excised from the N896b 284km stretch of the road awarded in 2012 to four contractors.
According to the Minister to the Minister of Works, Senator David Umahi, the new arrangement became necessary because of the N897b road project, where N122b was available from the Tax Credit Scheme leaving a shortfall of N775b.
Umahi spoke on Thursday evening in Abuja when the Edo State Senate caucus leaders, Senators Adams Oshiomhole and Monday Okpebholo paid him an appreciation visit over the approval by President Bola Tinubu for the completion of the road.
The meeting was also attended by the representatives of BUA Cement and the four road contractors, where the minister said his ministry has to find means to bridge the funding gap, adding that it was at that point that BUA came into the arrangement with the tax credit.
He also disclosed that the contractors handling the project would be mobilized with about N9b each which would be enough to complete a 6km stretch on their sections of the road.
Umahi said because of the complexity of the project and the socioeconomic importance of the road, 10km would be excised from the existing contractors for BUA to be completed in six months.
He said BUA must deploy the concrete technology on the 60km road with three contractors to handle the project to be able to meet the completion timeline.
Umahi, however, disclosed that the four contractors would need to sign an undertaking on the completion of the remaining sections of the road with adherence to the timetable.
The minister also complained about the attitude of the iron rod traders who have refused to bring down the cost despite the appreciation of the naira to the dollar.
He said he might have to report the issue to the president since the excuse for the rise in the cost of the steel components of the road was attributed to the foreign exchange.
Earlier, Oshiomhole said the Edo State caucus leadership was in the minister’s office to commend Tinubu for being a listening leader and for his commitment to the welfare and well-being of Nigerians through many measures he is putting in place across critical sectors of the Nigerian economy while entrusting the implementation of the policies to trusted, capable and enthusiastic lieutenants like the Works Minister.
While commending Umahi’s enthusiastic commitment to the road infrastructure revolution, the lawmakers said the Benin-Lojoja road has been a source of concern for sons and daughters of the Edo State and the Southeast region in general for the less than impressive interest previous governments showed in its rehabilitation.
