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N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others - Politics - Nairaland

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Buhari Inherited N600bn Oil Marketers’ Debt, Says FG / FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF / N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others (2) (3) (4)

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N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by Nobody: 2:23am On Sep 12, 2015
Contractors handling over 184 federal road projects have abandoned the various sites due to lack of funding from the Federal Government and the huge debt owed them by the Federal Ministry of Works.

Saturday PUNCH reliably learnt that following the decisions of the contractors to abandon the sites, N1.76trn federal road projects across the country had suffered setback.

The amount is the total cost of ongoing federal road projects across the six geo-political zones of the country.

The President, Federation of Construction Industry, the umbrella body for construction companies, Mr. Solomon Ogunbusola, in an interview with Saturday PUNCH, said all federal roads that had not been completed had been abandoned.

The contractors said they were owed over N600bn, adding that although part of the sum was owed by state and local governments, over 80 per cent of the amount was owed by the Federal Government.

This, according to them, was largely the reason why they decided to abandon the various project sites across the country.

They explained that their decision was not in protest against the government, but was purely because they could not function without funds.

The contractors could not state the exact number of ongoing federal road projects abandoned across the country, but findings showed that 184 projects were classified as ongoing by the Federal Government as at September 2014.

The North-Central Zone had 29 projects with a total length of 1,201.81km and a cost of N294bn; North-East had 26 projects, 1,219.65km long and cost N314bn; North-West had 20 projects, 1,040.22km long and cost N188bn; while the South-East had 45 projects stretching 1,251.4km with a worth of N357bn.

The South-South had 33 ongoing projects, 739.57km long costing N245bn; while the number of ongoing projects in the South-West was put at 31, stretching 1,072.63km at a total cost of N365bn.

More @ http://www.punchng.com/news/n600bn-debt-contractors-abandon-lagos-ibadan-expressway-183-others/
Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by DrLee(m): 2:32am On Sep 12, 2015
this has always been a problem in this country! every administration will abandon their predecessors works and waste resources

20 Likes 3 Shares

Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by dokyOloye: 2:43am On Sep 12, 2015
Buhari's body odour abi body language at work.
Das all.

70 Likes 4 Shares

Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by adekzy: 2:55am On Sep 12, 2015
Inflated cost of road project in the first instance...slow pace of functioning Govt., at the centre, parochial attitude of the Contractors...all plays to this effect.

lipsrsealed

6 Likes 1 Share

Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by DONMAYOR19(m): 3:10am On Sep 12, 2015
Continuity of project, the problem of Nigeria politician. Obj the thief awarded the project then, but nothing happen, the thief just award contract for paper, and all this yoruba newspaper never one day reported bad thing about this thief obj. GEJ came and re awarded the contract together with Benin-Ore road, today u can leave from Lagos to Benin without tress of that Benin-Ore traffic that obj use to kill Nigerians then. Lagos-Ibadan road was ongoing well before dullapo came with his body movement and everything has been stopped.


Funny enough, some blind people will say GEJ is the problem of Nigeria, obj them no see, babagida them no see, dullard buhari them no see. Shabi nigeria started in 2009 abi? Bias will kill some people no be small.

136 Likes 15 Shares

Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by ZKOSOSO(m): 3:19am On Sep 12, 2015
DONMAYOR19:
Continuity of project, the problem of Nigeria politician. Obj the thief awarded the project then, but nothing happen, the thief just award contract for paper, and all this yoruba newspaper never one day reported bad thing about this thief obj. GEJ came and re awarded the contract together with Benin-Ore road, today u can leave from Lagos to Benin without tress of that Benin-Ore traffic that obj use to kill Nigerians then. Lagos-Ibadan road was ongoing well before dullapo came with his body movement and everything has been stopped.


Funny enough, some blind people will say GEJ is the problem of Nigeria, obj them no see, babagida them no see, dullard buhari them no see. Shabi nigeria started in 2009 abi? Bias will kill some people no be small.

Ol Boy, na long life collect u so oo! God go just de bless u any how for this piece of my heart wey u blow out.

APC winchi don collect brain from most naijas o!
Buhari is a Man from Hell!!

78 Likes 2 Shares

Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by DONMAYOR19(m): 3:31am On Sep 12, 2015
ZKOSOSO:


Ol Boy, na long life collect u so oo! God go just de bless u any how for this piece of my heart wey u blow out.
AMEN...I claim this one o grin

41 Likes 3 Shares

Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by oluwafemi113(m): 3:54am On Sep 12, 2015
The contract have to follow due process


The immediate past administration was a fuc.k

5 Likes 1 Share

Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by Nobody: 4:08am On Sep 12, 2015
Make dem sha repair all the roads before Christmas

1 Like 2 Shares

Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by DaBullIT(m): 5:52am On Sep 12, 2015
God dey

1 Like

Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by porka: 6:02am On Sep 12, 2015
[size=13pt]The contracts will be re-awarded to compensate APC donors in about a year from now.

Their contractors will then turn Lagos-Ibadan expressway to bicycle lanes like they did to Mile 12-Ikorodu or a jogging path like Lekki Bridge[/size]

36 Likes 3 Shares

Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by Aufbauh(m): 6:03am On Sep 12, 2015
The Buhari i know is called Mr. Infrastructure with specialty in road construction.
We just need to be patient, when he hits the ground on road construction our children children will testify. Meanwhile i hope those wailers will not come here by then shouting that the projects was GEJ initiatives and whatever. The figure of the debt alone is like the contract was a hog wash for patronage and buy gullible minds to sing their praise.

14 Likes

Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by warrior01: 6:09am On Sep 12, 2015
I thought the past administration did nothing. How come there are construction going on simultaneously in the six geo political zones which Buhari as usual has stopped. Punch and all Apc followers shouldn't complain coz they asked for it.

57 Likes 5 Shares

Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by Mopolchi: 6:10am On Sep 12, 2015
They are working?
Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by porka: 6:13am On Sep 12, 2015
oluwafemi113:
The contract we have to follow due process


The immediate past administration is a fuc.k

[size=13pt]Africa magic Yoruba's English.[/size]

55 Likes 4 Shares

Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by godoluwa(m): 6:17am On Sep 12, 2015
hmmm...even if other roads will be abandoned, Lagos-Ibadan Expressway must be completed.
SHAME ON THOSE THAT VOTED THIS DIRECTIONLESS ILLITERATE AS A PRESIDENT.

25 Likes 1 Share

Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by Bevista: 6:18am On Sep 12, 2015
So, the SE had the most projects (45), even more than double the projects in the much larger NW (20). Little wonder where the highest wailing pitch is coming from. The SE had the highest appointments and projects in the last administration, yet no benefit to the region.

I dont give a hoot if they all abandon site. I am 100% certain Nigeria's money is safe, and in the fullness of time it will be deployed to the right projects.

6 Likes 1 Share

Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by oduastates: 6:33am On Sep 12, 2015
Ill - concieved and badly funded projects. 184 roads at the same time.
I am sure they have paid 200% mobilisation on paper and pocketed most of it.

2 Likes

Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by permsec: 6:36am On Sep 12, 2015
A man has been runing a nation which is believed to be the "giant of Africa" (yinmu) on auto pilot.


No policies, nothing can be said to be achieved other than media probe.

Some people that were strongly in support of this administration prior to its manifestation are regreting their actions but out of stupidity they'll say two words



WAILING WAILERS


Lets see who wails in the end because a better Naija is for everybody regardless of ur party,tribe, religion et al.

40 Likes 5 Shares

Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by Flets: 6:44am On Sep 12, 2015
Nigeria aint seen nothing yet.

2 Likes 3 Shares

Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by OrlandoOwoh(m): 6:54am On Sep 12, 2015
Vestiges of Jonathan's cluelessness.

1 Like

Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by oluwafemi113(m): 6:55am On Sep 12, 2015
porka:


[size=13pt]Africa magic Yoruba's Engilish.[/size]

Igbo Man see your life ?


What makes you different ?

8 Likes 1 Share

Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by Nobody: 6:57am On Sep 12, 2015
Ladies and gentlemen ...we are in trouble

16 Likes 3 Shares

Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by asha80(m): 6:58am On Sep 12, 2015
OrlandoOwoh:
Vestiges of Jonathan's cluelessness.
I believe some of those contracts were started by obasanjo though

4 Likes 1 Share

Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by handie(m): 7:09am On Sep 12, 2015
Hmmmm. Well, there's no money now.... Most of you contractors contributed to this cash crunch by giving kickbacks thereby encouraging corruption and also over pricing projects with the surplus used to finance one politician's election.... My people say, the undertaker suffers the same way the corpse being undertaken suffers. Na all of us dey suffer but ours is better. Unlike u guys who are already used to ostentatious lifestyles and having sugar daughters

4 Likes

Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by omowolewa: 7:44am On Sep 12, 2015
If the likes of JBerger, RCC, SCC, Dantata are closing sites, the impact on the masses would be great on Human Capital Index. One of the yardsticks of measuring government performance.

Civil servant, construction worker, Banks/Bankers are all medium of re distributing money from Government to citizen. With this 'Sacky' generation. It won't be long before Nigerian start feeling the heat.

Most contractors had even borrowed money to finance the project. Now they can't pay both principal and interests. The banks are threatening to publish their name as bad debtor. After sacking staffs the next stage is to sell off their assets and the pack off.

PMB act fast

19 Likes 3 Shares

Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by Nobody: 7:50am On Sep 12, 2015
This is what I have been saying for a week now.

Buhari is not adhering to the 2015 budget that was duly approved and passed by the last National Assembly.

If Buhari feels the budget is not in tandem with his policy drive then he should seek for budget amendment and or supplementary budget.

To make Matters worse, Buhari on the other hand continues to bennefit from revenue derivations set on the premise of the last budget.

Buhari is not following up on the budget neither is he even rolling out any new project, so what exactly is Buhari doing with the revenue being generated?

This man will destroy this country.

38 Likes 4 Shares

Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by Nobody: 7:54am On Sep 12, 2015
Past administration did nothing to address d issue, because there was no provision for those projects in 2015 budget.
I could remember' the construction workers incharge of Kabba-Ilorin road(road linking kogi and kwara state) had abandoned the site since november last year and same thing happened in other sites.

3 Likes

Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by odinese(m): 8:03am On Sep 12, 2015
.only in a shithole like fvcked up Nigeria.


Fvcked fvcked fvcked!!!

Backward nation...

21st century and Nigerians are still building roads while other countries are planning better things for their country...

US and UK has already had good in 18th to 19th century and shitholes are abandoning roads. Lmao

How can I be proud of coming from a shithole?...
A big hellhole that don't have a good future...

9 Likes 1 Share

Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by Bevista: 8:04am On Sep 12, 2015
smiley

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