The Federal Government has signed a contract agreement with the China Civil Engineering Construction Corporation (CCECC) on the construction of the Lagos-Calabar Coastal Railway project.
The Minister of Transportation, Rt. Hon. Chibuike Rotimi Amaechi who signed on behalf of the Federal Government of Nigeria, said the contract is an addendum to the Lagos-Calabar Coastal Railway project which was initially awarded by the former President Goodluck Jonathan’s Administration to CCECC at a contract sum of $11.917 billion disclosing that at the inception of President Muhammadu Buhari Administration, the Federal Government renegotiated the contract with the Management of CCECC and agreed at a contract sum of $11.117 billion thereby saving a whooping sum of $800million.
Amaechi reiterated that the Federal Government has completed the signing of the same contract with a different contract sum in order to legalize the new deal. “What we have done today is signing same contract but different contract sum to make it legal”, he said.
The Minister further said part of the contract agreement with CCECC is to expedite action and conclude arrangement with the China-Exim Bank to facilitate the commencement of work on the Railway project noting that his desire and expectation is the completion of the project in two years.
On the funding of the project, the Minister assured that funding would not pose any hindrance to the smooth commencement and final completion of the Lagos-Calabar Coastal Railway project.
"President Muhammadu Buhari has assured me that he is committed to the development of the Railway Sector in Nigeria and would not leave any ‘stone unturned’ to achieving that dream”, he said.
Explaining further, Amaechi said his Ministry’s determination is to conclude the 1st and 2nd segments of the projects which run through Calabar-Uyo-Aba-Port Harcourt-Yenogua-Otuoke-Ughelli-Warri-Sapele-Benin-Ore-Ijebu-Ode-Lagos with a target of covering all the Seaports along those Routes in good time.
Speaking after the signing of the Contract agreement on behalf of CCECC, President of the construction giant, Mr. Cao Baogang expressed appreciation to the Federal Government of Nigeria and promised that the Company would not let the nation down and delivered on target.
Subscribe to:
Post Comments (Atom)
Story that touches...saving what? Who said this is a fair deal. I smell something.
ReplyDeleteWe might not be Amechi's fans but when something of this nature happens, they need to commended. Please my dear, swallow your pride and do the needful. It is glaring what has happened here. Just suggesting
DeleteU no go school?
DeleteOle! Save ko! Save ni!.Governance is not about self adulation Sooner or later they will open your iwn file.Akwuya!
ReplyDelete800 savings for him to pocket 50? Igbo man well done. Sharp guy
ReplyDeleteWho is this useless Igbo hater here? His name is also Rotimi. Does that make him a Yoruba man? Amaechi is a crook right from during his naming ceremony on his father's arms.
DeleteWe pray for a reality episode!
ReplyDeleteHow can this be true? What was the dollars during Jonathan regime to what is obtainable now? Should the contract sum decrease or increase. If atall is true, certain conditions must come to play, is either the CCECC which is Tinimbu 's company, is going to use substandard materials or reduce the scope of work. Definitely, there must be a fowld play.
ReplyDeleteCCECC is Tinubu's company!!! Woow you need help
DeleteHow can someone say that CCECC belongs to Tinubu. It's good to be educated!
DeleteBut that is true! Tinubu is the grand father and great grand father of corruption! CCECC is one of his grand children.
DeleteYou smell your stupidity. 800 million dollars is not small money. You hatred will always expose your stupidity. Awon omo Iran Kiran
ReplyDeleteWise man, that's how were so wise to vote this govt into confusions , contributed to the hardships.people being thrown out of their jobs just bcos of your dubious and evil mind refusing to see beyond your nose. With blocked memory and myopic mentality. Revolution will surely take place in nation, it has begun already, people like you would never escape the aftermath of it. For supporting evil. I don't suppose to waste my time typing to you, cos I see you as a naive.
DeleteIs it also this government that contributed to your poor education?. You cannot even write a proper sentence. The economy is bad because oil prices dropped and that is our only source of income. Your favorite government had oil prices over $100 but refused to save. They pocketed such monies. 800million dollars is commendable. It will help change the lives of Nigerians. If you are so bitter,you can't see. Too bad. Go and jump in the lagoon.
DeleteSola the educated illetrate...refuse to save indeed...when the previous govt wanted to save,please can you tell me what happened,as regards Nigeria governor's forum...can you remember what they did to thwart the plan..
DeleteWell done Amechi.please we need more of this. Keep it up. Onye wee Iwe,let him slim from his bom bom.
ReplyDeleteWe are transmitting from era of destruction PDP to era of construction APC so the PDP guys are not used to this kind of news therefore don't blame them if they doubt the veracity of the development. What they use to is creation of ghost workers for politicians, padding of budget, withdrawal of slush fund from CBN for onward sharing to politicians,sharing of dollars openly during election, less than 50% execution of budget even though oil price is above budget oil bench mark etc
ReplyDeleteAre you alright??
Delete@Sola..I will never vouch for any politician or any party. I don't have any reason to think like u or trade words with you. For records, Amaechi was a PDP member so what point is he proving. Maybe he is proving a point to gullible people like u. Maybe u have sold ur birth right to politics...omo ale jatijati
ReplyDelete@anonymous you hide behind anonymity and talk rubbish. The matter is very simple. Swallow ur pride and admit that what this government did to look at the contract again and save almost 1billion dollars is commendable. It is very straight forward really. For a sane person.
DeleteHaters will never see anything good about this government.
DeleteWhy do Nigerians always decend into insults on every platform? We can still all make our points for or against in civility...just my 2 cents
ReplyDeleteAll you guys. Politics is a game. Simple apc is playing it better than pdp did. No country in d world trusts their politicians. What matters is result. If they construct it nd wee see it, then golden.
ReplyDelete$800 million is commendable and it is a lot of money. lt can execute a lot of projects.
ReplyDeletel worked on a road project of $1 billion and l know how many km of road that money can execute.
l also hope the project worth the contractual cost.
Also, that project should give a lot of employment. FG should include a clause in the contract that will enable contractors to employ and use home workers rather than bringing their own people from their country. Unemployment will be reduce with that Clause in every contract
Such project should create jobs for Nigerian and not for Chinese people.
Saving $800million is a lot of money, and it will be of great use to the country. However we should know that project of such magnitude has not definite price tag; the finally cost can only be ascertained when the project is finally completed. So claiming that $800million is saved is baseless and unjustiable.
ReplyDeleteThis is a mega project, and megaprojects all over the world are often plagued with cost uncertainty and overrun. So one shouldn't be supprised if more than the amount purported to be saved is consumed before the project is completed.
My point of view is from a professional background and extensive research on infrastructure projects executed all over the world.