Obaseki Approves N21.222bn Contract For Reconstruction Of 105.6 KM Benin-Abraka Road

…with spurs to Aifuwa St., Evboesi-Urherhue, Iguelaba communities


The Edo State government has approved the contract for reconstruction of the 105.6-kilometre Benin-Abraka Road at the cost of twenty-one billion, two hundred and twenty-two million, six hundred and twenty-six thousand, six hundred and seventy-six naira, thirty-two kobo (N21,222,626,676.32).

The approval was given at the state’s weekly Executive Council (EXCO) meeting, presided over by Governor Godwin Obaseki, at Government House, Benin City, the state capital, on Wednesday.

According to Obaseki “the award of the contract is in fulfilment of my promise to reconstruct Benin-Abraka Road and bring to an end, the frustration and sufferings of Edo people that ply the road, daily. This project is the largest, longest and the most ambitious road project ever undertaken in Edo State.

“The road has been dilapidated for over forty years and what is worthy of note is our ingenuity in bringing stakeholders together to appreciate the need to execute this road project that affects the lives of well over a million people, through co-financing.

He explained that the 105.6-kilometer Benin-Abraka Road has spurs to Aifuwa Street; Evboesi-Urherhue and Iguelaba communities.

The governor noted that “the co-financing arrangement is contained in a Memorandum of Understanding (MoU) entered into by the Edo State Government, the Niger Delta Development Commission (NDDC) and the Edo State Oil and Gas Producing Area Development Commission (EDSOGPADEC) with a financing ratio of 25%: 50%:25%.”

He further said: “Orhionmwon Local Government Area is a major oil and gas producing LGA and deserves smooth roads linking the various communities. We have very industrious people in the area, whose productivity had been hampered by the poor condition of the Benin-Abraka Road.

“This project will unleash the creative ability of people in Orhionmwon on the Edo economy by easing the troubles of commuting to and from communities in the area,” Obaseki added.

That's a FG road

This is very commendable. That road transverses many farming communities but now unmotorable and very dangerous to travel on. It is now a habitat to armed robbers, kidnappers etc

docadams:
This is very commendable. That road transverses many farming communities but now unmotorable and very dangerous to travel on. It is now a habitat to armed robbers, kidnappers etc

that's my OBASEXY

More than Edo State's 25% real total annual budget.

Politicians and politics. See Cost of the project and tell me what is actual recurrent expenditure of Edo State not the projected or estimated budget

MadamExcellency:
More than Edo State's 25% real total budget.

Politicians and politics. See Cost of the project and tell me what is actual recurrent expenditure of Edo State not the projected or estimated budget

Timeline here. Perhaps its based.ob the annual.accruals not.monthly stipends uncle.jibrin sends

kunleweb:



Timeline here. Perhaps its based.ob the annual.accruals not.monthly stipends uncle.jibrin sends

Did you read this part below?

The governor noted that “the co-financing arrangement is contained in a Memorandum of Understanding (MoU) entered into by the Edo State Government, the Niger Delta Development Commission (NDDC) and the Edo State Oil and Gas Producing Area Development Commission (EDSOGPADEC) with a financing ratio of 25%: 50%:25%.”

NDDC can't pay the 50% counterpart funding even within 5 years before Obaseki's second term will elapse assuming he wins a second term.

MadamExcellency:


Did youvread this part.

[b]The governor noted that “the co-financing arrangement is contained in a Memorandum of Understanding (MoU) entered into by the Edo State Government, the Niger Delta Development Commission (NDDC) and the Edo State Oil and Gas Producing Area Development Commission (EDSOGPADEC) with a financing ratio of 25%: 50%:25%
NDDC can't pay the 50% counterpart funding even within 5 years before Obaseki's second term will elapse assuming he wins a second term.

I.always agree.with you politically but i like to take.a different.stance.on this one. This deal.is a long.term.deal. there are.multiple.financiers. assuming it will.take.five years to.find the entire.project,then suggesting its 21% of the edo states actual budget is inavcurate as in the end if the cash for the project requires a five yeqrs tenure then it may just be 2-5% of its.monthly revenue which makes.it feasible ad achieveable.

kunleweb:




I.always agree.with you politically but i like to take.a different.stance.on this one. This deal.is a long.term.deal. there are.multiple.financiers. assuming it will.take.five years to.find the entire.project,then suggesting its 21% of the edo states actual budget is inavcurate as in the end if the cash for the project requires a five yeqrs tenure then it may just be 2-5% of its.monthly revenue which makes.it feasible ad achieveable.

Edo State Government and the Edo State Oil and Gas Producing Area Development Commission (EDSOGPADEC) have the same purse hence 50% coming from Edo State which is roughly N11 billion and I believe that it will eventually get to N15 billion with rise in inflation assuming Buhari wins 2nd term in office.

This project may start but will definitely be abandoned.

MadamExcellency:



Edo State Government and the Edo State Oil and Gas Producing Area Development Commission (EDSOGPADEC) have the same purse hence 50% coming from Edo State which is roughly N11 billion and I believe that it will eventually get to N15 billion with rise in inflation assuming Buhari wins 2nd term in office.

This project may start but will definitely be abandoned.

Agreeable split in 5 years, its not higher than 3-5% montly accrual. Whether it will be abandained or.not.isnt the issue here.Politically i dont.comment.on Edo issues.Never


Sleep tight