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• Official links contract variation to inflation, FX crisis
Undue delay occasioned by bureaucracy and poor funding in the execution, rehabilitation and reconstruction works on critical roads in the country has cost the Federal Government at least N679 billion, an investigation has revealed.
The East-West road comes tops with N515 billion; Lagos-Ibadan N144 billion and Sagamu-Benin road comes third with N20 billion
An official of the Ministry of Works and Housing said the losses arose from contract variation, inflation and foreign exchange fluctuation. x
Consequently, the government might end up spending the sum of N1.093 trillion on the 127.621km Lagos – Ibadan Expressway, the 181km Sagamu-Benin and the 675 km East-West roads, as against their original costs when they were separately flagged-off.