The Federal Government has allocated N185 billion to the building and dualization of the Calabar-Itu motorway.
The sum was part of the N600 billion raised from the Nigerian National Petroleum Corporation through the tax credit window by the Federal Inland Revenue Service to fund important projects in the country.
Senator Ita Enang, the Senior Special Assistant to the President on Niger Delta Affairs, Major Gen Mohammadu Buhari (retd. ), said this while briefing journalists after a tour of the project on Wednesday.
He explained that the project was divided into three phases, the first of which was given to Julius Berger for N54 billion and began work from Odukpani in Cross River and the Ibiono axis in Akwa Ibom states till it went on vacation.
He went on to say that the Chinese Civil Engineering and Construction Company was allocated N52 billion, while SEMATECH was given N79 billion to build roads and four bridges.
The Presidential Aide, who blamed the road’s delay on a lack of funding, pledged that the project would be completed with dual carriage by April 2023 if funds were easily available.
“We have been having problems getting funding for the road, but Mr President has asked me to assure you that we raised money from the tax credit window from Federal Inland Revenue Service to the NNPC to fund critical infrastructure mainly road infrastructure.
“Out of the over N600billion raised from NNPC as tax credit, a great part that is N185bn has been dedicated to this road. The road was awarded in three tranches. The first money that was available was N54bn and was for Julius Berger, N52bn to CCECC and the last N79bn to SEMATECH engineering.
“This road was designed for dualization since 1972 and only one lane of the four lanes was constructed believing that others would be constructed since then. Thank God, President Mohammadu Buhari has started constructing other lanes with four bridges and he has promised to complete it within the time frame,” Enang said.
He advised residents to be patient and helpful with the project’s contractors.