The Federal Government said yesterday that it was ready to issue N100 billion road and infrastructure bond for the completion of the Lagos-Ibadan Expressway.
Minister of Works Mike Onolememen spoke when he received the Ibrahim Mantu-led Peoples Democratic Party (PDP) Reloaded Committee in his office in Abuja.
He told the committee that the bond is to enable early completion of the road.
“Government has made commitment up to N50 billion for the construction of the Lagos-Ibadan Expressway, while N25 billion will be made available in 2014 and 2015.
“This is after the mobilisation of the contractors last year by the Federal Government.
“There are several government institutions, which are also putting up to N17 billion on that road to ensure its timely completion”, he said.
Onolememen said the road project was not abandoned as people claimed, but that the ministry was working to deliver a good road to Nigerians.
He added that the contract was revoked from the first Nigerian concessioner, who was awarded the contract in 2009, because he did not perform well.
The minister said since the contract was re-awarded to Julius Berger and RCC, work on the roads had improved.
“Federal Government terminated the first contract because the contractor did not do anything in three years, not even a kilometre, on the expressway.
“In fact, since the contract of that road was re-awarded, work has been going on and people, who travelled on the route during the last Yuletide attested to this”, he said.
Onolememen said the ministry would follow the ground norm of the Federal Highway Act to invest and deliver good arterial roads to Nigerians.
He added that road is a very important infrastructure and about 95 per cent of Nigerians travel by roads, assuring that most roads would get better.
Mantu, who led the committee to the ministry, said it was visiting and monitoring the projects carried out by the government.
“In the last two months, we secretly constituted six zonal inspection committees, made up of our members to inspect all completed ongoing road projects.
“We are shocked by the degree of progress made nationwide. This means the nation is getting value for its money”, he said.
He applauded the minister for completing 2000km of 32 roads in two years.
Minister of State for Works Bashir Yuguda thanked the committee for the commendation given to the ministry, saying it would propel them to do more than they are doing.
The PDP Reloaded Committee decorated and presented a plaque to the minister.
Source: The Nation
