NNPC to Mobilize Fund for Lagos-Badagry Expressway Project.

The office of the Federal Controller of Works in Lagos has revealed that it is working with the Nigerian National Petroleum Corporation (NNPC) to mobilize funding for the Lagos-Badagry Expressway project.

This was disclosed by the Federal Controller of Works in Lagos, Mr Olukayode Popoola, in an interview with the News Agency of Nigeria (NAN) recently in Lagos

According to report, the NNPC had hinted last month that it is committed to utilising the Federal Government’s Tax Credit Scheme to rebuild some of the bad roads in the country in line with Mr President’s Executive Order 7.

“Lagos-Badagry Expressway project is part of the projects NNPC is funding under the Tax Credit Scheme among the 21 roads selected nationwide. So, it is going to receive a lot of attention more than what it has been receiving before”. Popoola said.

He also stated that the funds were already available but that NNPC was perfecting documentation towards mobilising fully to the site, citing that in a couple of days, the agency should be done with documentation.

“This month, give us like another one week more, NNPC funds will be on the road, you will see the effect in a week’s time.

“The contractors are on site and have never left, so, if this fund comes now, it is another way of strengthening them and they will move faster”. He said.

Popoola, though, did not reveal the total sum voted for the highway, stated that the road construction would be evaluated the same way the SUKUK funds were monitored for monies to be released based on the valuation of the actual construction done on the site per time.

The Lagos State Government is responsible for the Iganmu–Okokomaiko section of the highway, while FERMA is handling Okokomaiko–Agbara axis of the road

Add Comment

Click here to post a comment