Govt minister reveals details of East-West road project
31 July 2012
Elder Godsday Orubebe, the minister of Niger delta affairs, has revealed the extent of the financial muscle needed to complete the East-West road project, Daily Trust reports.
Completion of the work is a key infrastructure project in the west African state and according to the government minister, it will require as much as N193.8 billion to ensure that it is completed by December 2014.
The costs are spread over a number of areas, he said, adding that N8.5 billion is owed to contractors, with N176.5 billion set aside for cost of completion and around N8.7 billion retention due to be paid by 2015.
Speaking to reporters in the Nigerian capital of Abuja, the government minister stressed the importance of the project and reaffirmed the state's commitment to see construction work completed on time.
There are a number of similar projects going on throughout Nigeria, all of which are designed to accelerate economic growth in the country.