Devaluation of Naira, COVID-19 pandemic affecting road construction in Nigeria - Contractor handling Ibadan road

  The contractor handling Ibadan/ Iseyin Road has declared that the continued devaluation of Naira and COVID-19 pandemic were negatively aff...

 

The contractor handling Ibadan/ Iseyin Road has declared that the continued devaluation of Naira and COVID-19 pandemic were negatively affecting road construction in Nigeria.

Engineer Paul Chamoun who is the site engineer of the project, made this disclosure while conducting journalists on an inspection tour of the ongoing reconstruction project of the Ibadan/ Iseyin Road.

Chamoun who spoke on behalf of Kopek Construction on Thursday in Ibadan said that the devaluation of Naira, COVID-19 and the ENDSARS protests which took place last year affected the construction of roads in the country.

He said that project which is supposed to be completed in eleven months could not be completed as promised due to the devaluation of Naira, COVID-19 pandemic, ENDSARS protests and lockdown in some states last year.

Chamoun while speaking further, said that a bag of cement that was sold for about N2,300 last year is now sold at the rate of N4,200 due to currency devaluation occasioned by high inflation.

He added that contractors across the country are now spending more money on the purchase of materials, a situation that tends to have negative impacts on projects.

“As I told you, devaluation of naira is a big challenge that we faced. In February, it was supposed to be twelve months and this is May. So, these three months, look at ENDSARS and some changes in the rain. There are so many challenges.

“We were supposed to have finished this project in eleven months, but we have additional three months due to the challenges we faced. We are not the only ones, all other companies are facing these challenges.

“The challenges of lockdown, devaluation of Naira, ENDSARS and COVID-19 pandemic. They are big challenges facing us.

“But despite the challenges, we were able to complete the project. The project is 100 per cent completion. From Moniya to Iseyin, it is 100 per cent completion.

“I can tell you that with all the challenges we face, like any other projects, there are usually challenges, but we face more than the normal challenges this time, the COVID-19 pandemic, the ENDSARS, the lockdown and for sure, the devaluation of Naira are big challenges we now face.”

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Saga Gist - Top Source for Nigeria News: Devaluation of Naira, COVID-19 pandemic affecting road construction in Nigeria - Contractor handling Ibadan road
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