Why completion of Odukpani-Ikot Ekpene Road is dragging – Julius Berger

The Julius Berger Construction Company has stated that unresolved right-of-way issues, macroeconomic pressures like inflation are among issues delaying the Odukpani – Itu – Ikot Ekpene Road project. The Managing Director of Julius Berger, Dr Peer Lubasch, made the disclosure during an appearance before the Senate Committee on Works, chaired by Senator Barinada Mpigi Lubasch […]

The Julius Berger Construction Company has stated that unresolved right-of-way issues, macroeconomic pressures like inflation are among issues delaying the Odukpani – Itu – Ikot Ekpene Road project.

The Managing Director of Julius Berger, Dr Peer Lubasch, made the disclosure during an appearance before the Senate Committee on Works, chaired by Senator Barinada Mpigi

Lubasch in a statement said unit costs of materials that were negotiated eight years ago has increased coupled with foreign exchange volatility, and financial strain resulting from delayed contracting, approvals, and payments.

He stated that despite these obstacles, Julius Berger has consistently demonstrated its commitment by pre-financing works and advancing project execution to ensure progress on critical infrastructure projects.

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He urged the Senate leadership to address challenges in delivering national infrastructure, highlighting industry challenges that are not only unique to the project discussed nor to Julius Berger.

He asked to protect due process and adherence to contractual cooperation as proactive Senate intervention may resolve the challenges and send a strong signal to investors and stakeholders.

“We extend our sincere gratitude to Senator Barinada Mpigi, Ph.D., for his leadership, and to the Senate President, Senator Godswill Akpabio, for his esteemed presence and thoughtful contributions to today’s session. Their commitment to addressing the challenges facing Nigeria’s infrastructure sector reflects the Senate’s dedication to the nation’s progress.”

“We also extend our gratitude to His Excellency, President Bola Ahmed Tinubu, GCFR, for his visionary leadership, his efforts in reforming the forex market, improving security, increasing the minimum wage, and ensuring critical infrastructural development, which serve as enablers for social and economic advancement. His Renewed Hope Agenda paves the way for a more inclusive and prosperous nation, particularly through the infrastructural development scheme, which is poised to stimulate not only the construction industry but also the broader economy.”