The N15bn provided through the Nigerian National Petroleum Corporation Limited Tax Credit scheme has expedited construction works on the Lagos-Badagry Expressway.
This was recently disclosed by the Director of Federal Highways in the South West, Adedamola Kuti.
He added that the project would reach 80% completion within one year.
Kuti made the comments during an inspection tour of the third section of the Lagos-Badagry Expressway project, which spans from Agbara to the Seme border under the supervision of the Federal Ministry of Works.
He said about 17 kilometers of the road had been completed on various stretches on the Badagry-bound lane, while plans were already underway to further accelerate the construction works.
“So far, the NNPC funds have brought in a lot of relief to this job. We have been able to pay some of the outstanding bills for certified works that have been done. So, we have our certificate number four, five has been paid up by the NNPC.
“That is why you are seeing this tremendous progress that is ongoing on this road. The NNPC funding for this job is just about N15bn but we have been assured that the government will not stop funding,” he said.
He said the project was about 25 per cent completed and that with continued funding, the project would reach about 80 per cent completion within a year.
Speaking further, he said that the contract was awarded in 2018 but due to funding constraints, actual construction began in 2020 after Sukuk funding and the NNPC Tax Credit Scheme.
Kuti said, “From December 2021 and this year 2022, this project has been placed under the tax credit initiative of the Federal Government that is being sponsored and being financed by the NNPC.
“We are here to see the progress that has been made so far on this road. This road is very sensitive to the Federal Government.
“Out of the 21 critical roads under NNPC funding we have two in the South West and Lagos-Badagry Expressway happens to be one,” he said.
He explained that Agbara to Badagry is about 46 kilometres, adding that the road had reached final layers on several portions including the Ibereko community axis.
Speaking on the construction, the lawmaker representing Badagry in the House of Representatives, Babatunde Hunpe, urged the Federal Government to continue funding the project in order to complete the project in timely fashion.
Also speaking on the development, the Onibereko of Ibereko land, Oba Israel Okoya, said, in the past, residents spent between five and six hours from Badagry to Mile 2 in Lagos.
The Coordinator, National Youth Council of Nigeria, Olorunda LCDA, Abdulsalam Ashade, urged the Federal Government to construct pedestrian bridges for the residents crossing the road.
