The contractor handling the reconstruction and expansion works on the Lagos-Ibadan dual carriageway, Section II, along Shagamu-Ibadan, with Contract No. 6205, has suspended further execution of the project due to a total outstanding debt of N8.94bn.
Reynolds Construction Company Nigeria Limited, in a letter addressed to the Minister of Power, Works and Housing, Mr. Babatunde Fashola, and dated June 2, 2017, called the attention of the minister to the worsening financial situation of the project and pleaded for his intervention in order to ease the continuation of work on the site.
The letter which was received and acknowledged by the office of the minister on June 5, 2017, and made available to our correspondent in Abuja on Friday, revealed that as of when it was sent, the outstanding debt on approved certificates for certified works on the project was N7.83bn.
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