The federal government has announced plans to complete the construction of the Benin-Lokoja road project within six months. The project, which was awarded in 2012, faced delays but the government has devised a strategy to expedite its completion. BUA has committed to constructing 30 kilometers of the road under the tax credit scheme, with three other contractors mobilized for the remaining 30 kilometers. However, there is a funding gap of N775 billion that needs to be addressed.
The federal government says the plans are in place to complete the construction of the Benin-Lokoja road project within six months. David Umahi, minister of works, spoke on Thursday at a meeting with the project contractors in Abuja. Umahi said the road project was awarded in 2012 but could not be completed, assuring that the federal government had devised a means to hasten the completion.
He said the federal government had agreed to BUA’s commitment to construct 30 kilometres of the road under the tax credit scheme after which a tax certificate would be awarded to the company.According to the minister, three other contractors would be mobilised for the construction of the remaining 30 kilometres.“The first section from Lokoja is being handled by CGC, the second section is being handled by Mother Cat, the third section is handled by Dantata and Sawoe, while the last section is handled by RCC.“Let me say that this project was first awarded in 2012, later the last administration reviewed the project to N879 billion under the Nigerian National Petroleum Company (NNPC) tax credit scheme. “However, the costs of the project is different from the commitment of NNPC because NNPC’s commitment was just N122 billion and so there was a funding gap of N775 billion and I don’t see where that money is coming fro
Federal Government Benin-Lokoja Road Project Construction Completion Tax Credit Scheme Funding Gap
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