The Oyo State Government on Wednesday in Ibadan said it has approved the contract sum review of 12 road projects in the state.
The state’s Commissioner for Public Works and Transport, Prof. Daud Sangodoyin, made the announcement while briefing newsmen shortly after the 10th weekly state executive council meeting.
According to him, the council had on Sept. 17 during its seventh meeting constituted a committee to review the prices of construction items for 12 ongoing projects.
He added that this was based on the request by contractors handling the projects.
The Commissioner listed the 12 projects to include the construction of the South-East wing’s lots one and two of the Ibadan circular road, and rehabilitation of the Saki-Igboho road.
“There is also the asphalt reconstruction and expansion of Iwo road interchange to Asejire at the Oyo state/Osun boundary, among others,” he said.
Sangodoyin said the council considered the report of the committee and approved the review of value of the contract sum of the 12 ongoing projects.
He added that this was at a total sum of N86.1 billion
“The contractors submitted a price variation of N159.6 billion, but the committee and experts consulted, reviewed it and negotiated this to N86.1billion.
“This negotiation saved the government up to N73.4 billion.”
The Commissioner stated that this payment of this was subject to a milestone achievement which was going to be consistent with the original contract.
He equally made it known that the original contract sum for the 12 projects was over N200.9 billion.
The reviewed price variation of N86.1 billion has jacked up the contract sum of the 12 projects to over N286 billion.
Sangodoyin further stated that all the projects would be executed as agreed with the contractors.
“There won’t be any abandoned project by the end of the present administration’s tenure,” he added.(NAN).
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