The Federal on Monday revoked its contract with Bi-Courtney for the reconstruction of the 125 kilometre Lagos-Ibadan Expressway. Announcing the revocation of the contract with Bi-Courtney, the Federal Government had hired both Julius Berger Nigeria PLC and RCC Nigeria Limited to execute the job. The Federal Government chided Mr. Wale Babalakin, owner of Bi-Courtney of breaching the terms of the concession agreement which was entered into by both parties on May 26, 2009 during the administration of President Umaru Yar’Adua.
The concession agreement was based under the Design, Build, Operate and Transfer. Bi-Courtney was to refurbish the road with N89.53billion and collect toll on it for 25 years so as to recover its investment. Bi-Courtney was to construct two additional lanes in each direction of the road between Lagos and Sagamu Interchange, this was to make it four lanes on both sides of the road; provide facilities for security and welfare of road users as well as to ensure a free flow of traffic. Mr. Mike Onolememen, the Minister of Works, in terminating the contract with Bi-Courtney the Federal Government considered the rules of disengagement as stated in the agreement. “Consequently, the Federal Ministry of Works has engaged the services of Julius Berger Nigeria PLC and RCC Nigeria Limited to commence work immediately on the reconstruction of the expressway, while Julius Berger would handle section 1: from Lagos to Sagamu interchange, RCC Nigeria Limited will be responsible for section 11: from Sagamu to Ibadan”, said Onomemen. The completion of the road will bring relief to the masses as the plays a vital role on the economic activities of the people.
No comments:
Post a Comment
Dear readers, please leave your comments. We appreciate them.