Senate invites Zainab Ahmed, Fashola, to disclose costs of road projects, others

The Senate has invited the Minister of Finance, Zainab Ahmed, the Minister of Works and Housing, Babatunde Fashola, and the Managing Director, Sovereign Investment Authority (SIA), Mr. Uche Orji, to explain the variation of the contracts for some key road projects including, Lagos-Ibadan Expressway, Second Niger Bridge and Abuja -Kano Expressway.

At a meeting yesterday, the Senate Committee on Finance led by

Solomon Adeola Olamilekan, said it needed detailed information on the cost of the federal projects.

The invitation was a sequel to the disclosure by Orji that his agency had no details of the cost of some of the projects.

Olamilekan disclosed at the meeting that he had asked for the initial cost of the Lagos-Ibadan Expressway and the current cost as a result of variation, but that Orji said only the Ministry of Works and Finance could provide the information needed by the committee.

The SIA boss argued that some of the projects predated his agency.

In his response, Olamilekan asked: “What was the initial cost? Of course, there was variation. Who approved it and what is the present cost as at today.?”

The lawmaker, who lamented that only $300 million had been released for the projects so far, said: “On the issue of funding, by virtue of the information at my disposal and by what the Finance minister made me understand, two years down the line, only $300m is in the books. This calls for concern.

“We believe that funding is critical to these projects. If the funding is not there, there is no way we can achieve those time frame that you have set out for the completion of the projects.

“On that note, we would be bringing on board the minister of finance, minister of works and housing, managing director of the NSIA, accountant general of the federation and the contractors who should be invited by Fashola.”

On the variation of the contracts, Olamilekan said the committee wanted to know the value and the scope of work that the variant covers.