SHOCKING: FG discovers $800million fraud in Lagos-Calabar Coastal Railway Project
– Federal Government of Nigeria says it has saved the country of a whooping sum of $800million from the construction of the Lagos-Calabar Coastal Railway Project
– FG renegotiated the contract with CCECC today, July 1 for an agreed contract sum of $11.117 billion from the $11.917 agreed with past government
Honourable Minister of Transportation, Chibuike Rotimi Amaechi, (Second Left) Permanent secretary Federal Ministry of Transportation, Alh. Sabiu Zakari ( Left) Director Legal Services Federal Ministry of Transportation, Mrs. Uche Okoro, President China Civil Engineering Construction Corporation, (CCECC) Mr. Cao Baogang and Managing Director China Civil Engineering Construction Corporation, (CCECC) Jack Lii, during the singing of Memorandum of Understanding on behalf of the Federal Government with CCECC on the Lagos-Calabar Coastal Railway Project at Ministry of Transportation Abuja on 1st July 2016
The Federal Government of Nigeria says it has saved the country of a whooping sum of $800million from the construction of the Lagos-Calabar Coastal Railway Project.
Minister of Transportation, Rt. Hon. Chibuike Rotimi Amaechi who renegotiated the contract with Civil Engineering Construction Corporation (CCECC) today, July 1 for agreed at a contract sum of $11.117 billion from the $11.917 agreed with the former President Goodluck Jonathan’s Administration.
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Amaechi reiterated that the Federal Government has completed the signing of the same contract with a different contract sum in order to legalize the new deal.
“What we have done today is signing same contract but different contract sum to make it legal,” he said.
The Minister further said part of the contract agreement with CCECC is to expedite action and conclude arrangement with the China-Exim Bank to facilitate the commencement of work on the Railway project noting that his desire and expectation is the completion of the project in two years.
Honourable Minister of Transportation, Chibuike Rotimi Amaechi, President China Civil Engineering Construction Corporation, (CCECC) Mr. Cao Baogang and Managing Director China Civil Engineering Construction Corporation, (CCECC) Jack Lii, during the exchange of Memorandum of Understanding signed on behalf of the Federal Government with CCECC on the Lagos-Calabar Coastal Railway Project at Ministry of Transportation Abuja on 1st July 2016.
On the funding of the project, the Minister assured that funding would not pose any hindrance to the smooth commencement and final completion of the Lagos-Calabar Coastal Railway project.
“President Muhammadu Buhari has assured me that he is committed to the development of the Railway Sector in Nigeria and would not leave any ‘stone unturned’ to achieving that dream,” he said.
Explaining further, Amaechi said his Ministry’s determination is to conclude the 1st and 2nd segments of the projects which run through Calabar-Uyo-Aba-Port Harcourt-Yenogua-Otuoke-Ughelli-Warri-Sapele-Benin-Ore-Ijebu-Ode-Lagos with a target of covering all the Seaports along those Routes in good time.
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Speaking after the signing of the Contract agreement on behalf of CCECC, President of the construction giant, Mr. Cao Baogang expressed appreciation to the Federal Government of Nigeria and promised that the Company would not let the nation down and delivered on target.
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