The Edo State Assets Verification Committee has revealed its findings.
Recall that the Committee was set up by the State Governor, Monday Okpebholo.
According to the Committee, it has uncovered how the contract sum for a road project in the state was inflated from N8 billion to N16 billion by the immediate past government of Godwin Obaseki.
According to the Committee, the contract sum for the 17.5-kilometer road project was inflated thrice within a year.
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The Sub-committee on Physical Assets and Infrastructure of the Verification Committee discovered the inflation during an inspection of the reconstruction of the Benin-Abraka Road Phase 1C.
The contract was awarded to Nsik Engineering Company Limited on May 16, 2023, while work commenced in September 2023.
The project manager of the construction firm, Engr. Ifiokebong Ekong, who spoke to members of the committee during the inspection, said the company was mobilized with the sum of N2.9 billion, representing 25 percent of the contract sum of N8 billion.
Ekong said after the mobilization, the contract sum was varied, and some amount was added to the initial cost of the project.
He added that the completion period of the job, which was initially three and a half years, was, however, reviewed downward to 18 months (one year and six months).
READ ALSO: Edo Govt Says Obaseki Left N1 Trillion Internal Debt, N282 Billion External Debt
The project manager said the contract sum was initially N8 billion when it was awarded in September 2023, but it was reviewed upward to N12 billion in 2024 and later to the current sum of N16.4 billion in June 2024.
