Breaking News, Nigeria, Africa, World, Politics, Entertainment, Sports, Technology, Business, News

FG, Dangote Sign N11.5bn Concrete Road Project

0 17
[caption id="attachment_13951" align="alignnone" width="690"]Aliko Dangote [/caption]

The federal government and Dangote Group on Tuesday signed a contract for the construction of 42.5km Obajana-Kabba Road in Kogi State.

The Permanent Secretary, Federal Ministry of Power, Works and Housing, Engr Magaji Abdullahi Gusau, and the Honourary Adviser to the President of the Dangote Group (Executive Director), Engr. Joseph Makoju, signed the contract on behalf of the duo yesterday in Abuja.

The project was awarded to AG Dangote Construction Company, a subsidiary of Dangote Group at N11.5 billion at a tax concession basis of N5.2 billion.

Therefore, the remaining N6.2bn will be treated as part of the Corporate Social Responsibility (CSR) of the Dangote Group.

Confirming the contract, Mr. Ashif Juma, the Managing Director of AG Dangote, said the duration for the project was slated for 24 months but the Dangote Group hoped to complete it in 16 months.

Recall that earlier this year, Dangote Group had commissioned a 26-km Itori-Ibese concrete road, also as part of its CSR.