FG to Disburse N431bn to Road Contractors

The Federal Government has announced plan to disburse N431 billion to road contractors across the country.

The Minister of Works, David Umahi, disclosed this as he interacted with contractors responsible for road dualisation projects and the ministry’s zonal directors on Thursday.

The minister also conveyed the ministry’s plan to concentrate on enhancing the dualised road network across the nation.

Umahi also announced the implementation of a performance bond, ensuring a 10-year guarantee for all new projects.

“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 N431bn 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 an 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 account for it,” he said.