The Minister of Works, David Umahi, has announced to contractors handling Federal Road projects across the country that the President Tinubu led administration has N431bn ready to be paid out to them.
He made the announcement at a meeting with contractors in his office yesterday. The minister equally told the contractors that henceforth all contractors will be required to sign performance contracts to guarantee that roads constructed would last for at least 10 years.
This was contained in a statement signed by the Director of Information and Public Relations of the Ministry, Mrs. Blessing Lere-Adams.
Umahi also announced the Ministry’s intention to pay greater attention to dualised roads across the country.
She quoted the Minister as saying, “Why we are here now is to announce our intention to face most of the dualised roads in the country.
“I want to remind you that Nigerian National Petroleum Corporation (NNPC) is funding 50% percent of the contract sum and that funding goes up to 2025.
“We have N431B of money that is ready for contractors to clear but there is no certificate for it , if you are doing a job under Phase 1, make effort to make claims , if your job involves augmentation go back to your Regional Director for understanding before I sign the certificate , any certificate I sign now ,I have to take account for it even when I have left office.”
The Minister tasked the contractors to stick to one lane if their job has not gone up to 50% completion; he said he had also come up with Performance Bond meaning that all new projects would be guaranteed for 10years.
