Lagos-Calabar coastal highway: Project not okayed by NASS, procurement for probe — REPS

The House also called on the Minister of Works, Minister of Finance and the Attorney-General of the Federation and Minister of Justice to ensure that all project guarantees and credit enhancement instruments are sent to the National Assembly for approval.

Achado said: “The House is disturbed that the contingent liabilities accruing to the Federal Government of Nigeria on this project violate the Debt Management Office Act of 2023, as Section 22 states that the minister shall not guarantee an external loan unless the terms and conditions of the loan shall have been laid before the National Assembly and approved by its resolution.

The lawmaker expressed concerns that the procurement strategy might have violated the Public Procurement Act 2007, Section 40 which required that where a procuring authority adopts to use Restrictive Tendering Approach, it should be on the basis that the said goods and services are available only from a limited number of suppliers and contractors and as such, tenders shall be invited from all such contractors who could provide such goods and services.

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Lagos-Calabar Coastal Highway: Tinubu’s personal interest behind hasty projectThe 2023 Peoples Democratic Party, PDP, presidential candidate, Atiku Abubakar, on Sunday said the Nigerian Government was 'solely expediting action on the Lagos-Calabar Coastal Highway due to the business ties between President Bola Tinubu and Gilbert Chagoury, the owner of Hitech.' Chagoury is the contractor responsible for the highway project.
Source: DailyPostNGR - 🏆 11. / 59 Read more »