FEC Approves Completion Of Kaduna Eastern Bypass Highway
By Ogbolu George
Babatunde Raji Fashola, the Minister of Power, Works and Housing, has said the Federal Executive Council (FEC) has approved the memo for the resuscitation and completion of the 50 kilometre dual-carriage Kaduna Eastern bypass highway.
Fashola, stated this on Wednesday, while briefing State House reporters after the FEC meeting.
He said the dual-carriage highway would gulp N32 billion.
“The project was first awarded in 2002. It was N12 billion. We have had to get approval for N22 billion verbatim and so, that takes that project cost now to N32 billion.
“The contractor was paid N5.5 billion in 2002. If we had paid the contractor N11 billion then when the exchange rate was N109, it would have fetched us $96 million. if you multiply $96 million today even at the official rate of N305, it is now N29 billion.” the minister said.