The Edo State Assets Verification Committee has alleged massive inflation of a road contract under the immediate past government of Godwin Obaseki, revealing that the project cost ballooned from N8 billion to N16.4 billion within a year.
The committee, set up by Governor Monday Okpebholo, made the discovery during an inspection of the 17.5-kilometer Benin-Abraka Road Phase 1C project.
The Sub-committee on Physical Assets and Infrastructure reported that the contract sum was revised three times after it was initially awarded to Nsik Engineering Company Limited on May 16, 2023.
Speaking during the inspection, the project manager for Nsik Engineering, Engr. Ifiokebong Ekong, disclosed that the company received an initial mobilization fee of N2.9 billion, representing 25% of the original N8 billion contract sum.
However, by 2024, the cost was revised to N12 billion, and later in June 2024, it was further increased to N16.4 billion.
Engr. Abass Braimah, a member of the subcommittee, expressed shock at the 100% cost increase, stating, “I don’t think there is anywhere in Nigeria or outside where a project can be awarded for N8 billion, reviewed to N12 billion, and then further reviewed to N16 billion. What has substantially changed for this.”
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