Lagos-Calabar Coastal Road: Reps demand letter of guarantees, credit instruments for approval

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The Nation Newspaper Lagos-Calabar Coastal Road: Reps demand letter of guarantees, credit instruments for approval

The House also resolved to investigate the procurement and award processes of the multi-billion coastal road project.

Achado told the House that the procurement process did not follow due process, adding that funding for the project was also not approved by the National Assembly. Achado noted that the laudable project, with the prospect of providing easy access for the movement of goods and services across the nation, has a financing structure, as announced by the Minister of Works, which requires the Federal Government to provide 15 to 30 per cent co-financing, while the private sector counterpart would provide the balance.

Achado said tenders should be invited from all contractors that could provide such goods and services.

 

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