FG approves N3bn Sukuk fund for rehabilitation of Numan-Jalingo road

Mu’azu Sambo, minister of state for works and housing, says there is a provision of N3 billion Sukuk fund in 2022 by the federal government for the rehabilitation of Numan-Jalingo road.

Numan-Jalingo road is a federal highway stretching from Numan, a town in Adamawa and running through to Jalingo, capital of Taraba state.

Sambo said this on Saturday during an inspection of federal road projects within the two states.

Sukuk is an Islamic liquidity management instrument used by many governments and corporations to finance big projects.

Since the establishment of the initiative in Nigeria in September 2017, the Debt Management Office (DMO) has issued four Sovereign Sukuk — 2017, 2018, 2020 and 2021.

The minister said once the Sukuk fund is accessed within a short time, there will be remarkable progress at the construction site.

“The 103 kilometre Numan- Jalingo road is part of the Maiduguri-Calabar Highway,” NAN quoted Sambo as saying.

“The section of the road that is not motorable is not acceptable for the road is the only connection between the North and South on the North Eastern axis of the country,.”

The minister said he would not blame the contractor for the slow pace of work.

According to him, it was due to the insufficient budgetary provision in the past and COVID-19 pandemic that affected the progress of work.

He, however, said with the current improved funding provision, the contractor was expected to service its equipment and be more serious with the construction work.

He said if the company was found not to have the capacity to complete the job, the government would not hesitate to terminate the contract and re-award it to a competent one.

While briefing the minister on the progress of work on Numan-Jalingo road, Maria Zirrah, a senior civil engineer at the site, representing the federal controller of works, Adamawa, said insecurity, lack of construction materials and funding were responsible for the slow pace of work on the project.

On his part, Frank Koshihuk, project engineer of Deux Project Nig. Ltd — the contractor for the Numan-Jalingo road project– said inflation, funding, insecurity were the major challenges facing the construction work.

The road contract was awarded to DEUX Project Nig. Ltd in 2017 at the cost of N11 billion with a completion period of 20 months.

But Koshihuk said only the sum of N1.5 billion was given to the company after the award of the contract.

He promised that as soon as the funding pattern for the project improved, the work would be completed within eight months.