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FG To Borrow From NDDC, Sukuk Bond To Fund Calabar-Itu Road Project



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The Senior Special Assistant to President Muhammadu Buhari on Niger Delta Affairs, Senator Ita Enang, has disclosed that the Federal Government will source funds from the Niger Delta Development Commission (NDDC), the Sukuk bond as well as other sources to finance a substantial part of the Calabar-Itu Road project next year.

He noted that the plan became necessary due to insufficient funds for the project in the 2021 budget.

Enang disclosed this on Tuesday while inspecting a four-kilometre portion of the Calabar-Itu Road already completed by Julius Berger Plc.

He commended the company for the quality of road adding that the standard was in accordance with the design by the Federal Ministry of Works and Housing.

He said, “This is the portion which has been completed by Julius Berger, it’s only about three to four kilometres of the 22 kilometres that they have completed on both sides with the pavement. Not that nothing has been done, just that they haven’t completed and gone far.

“We appreciate the quality of the road if you see the width and everything is as designed by the federal ministry of Works and Housing, and they have completed it according to standard.

“We are trying to get funds from the Niger Delta Development Commission, from other sources and of course from Sukuk bonds to be able to complete these sides.

“I want the people of Akwa Ibom, Cross River and Abia States to commend and appreciate the President, Muhammadu Buhari (retd.), and we want to assure that the rest of the project will be funded more in the next budget.

“There is money in the 2021 budget, but it is not much to go far for this, but the one we’re anxious to commence is the aspect of the road that was awarded to CCECC which they are yet to commence because we are yet to mobilise them.”

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