FG, Dangote Sign N11.5bn Concrete Road Contract

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  • FG, Dangote Sign N11.5bn Concrete Road Contract

The Dangote Group said on Tuesday it had signed a contract with the Federal Government for the construction of a 42.5KM Obajana-Kabba Road in Kogi.

The Regional spokesman of the conglomerate, Mr. Jibrin Abubakar, said that work would commence in full on the project after signing the document in Abuja.

The Permanent Secretary, Federal Ministry of Power, Works and Housing, Mr. Magaji Gusau, signed on behalf of the Federal Government, while the Adviser to the President of the Dangote Group, Mr. Joseph Makoju, signed on behalf of the group.

Makoju said the exercise was a milestone in the history of Nigeria.

The rigid pavement is to be built by the AG Dangote Construction Company.

The project will cost the Group N11.5bn but the job was awarded to the Group on tax concession basis at N5.24bn.

The difference of N6.2bn is part of the corporate social responsibility of the Dangote Group.

The Managing Director of the AG Dangote, Mr. Ashif Juma, said the contract duration was 24 months, but that the Group had set a target for its completion at 16 months.

It would be recalled that the Dangote Group commissioned the 26 Km Itori-Ibese concrete road in Ogun in June.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]; Tel: +2347065163489.

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