Fed Govt Reviews 26 Water Contracts, Saves N53bn

Whatsapp News

Minister of Resources Suleiman Adamu

The Federal Government on Monday announced that said saved N53bn after carrying a review of 26 project contracts across the country.

Minister of Resources, Suleiman Adamu, disclosed this at the unveiling of five-year compendium on water resources Nigeria.

He stated that after audit of projects under ministry, became necessary undertake cost reviews of some major projects enable contractors continue their implementation completion.

Adamu said, “ ensure value for money, contract revision requests were subjected several layers of scrutiny, review and negotiation under the full watch of the of the Minister and relevant departments.

“The stringent processes enabled us to achieve substantial reduction on the request for contract review on 26 major projects thereby saving about N53bn on the costs of the contracts, even before review by the Bureau for Public Procurement.”

He added, “This achievement is profoundly significant to us the ministry as showcases prudent management of resources and high levels of transparency and accountability.”

The water minister explained that 2016, the government commenced the audit and prioritised all the 116 uncompleted and abandoned projects.

Adamu said projects that were ascertained as non-viable were dropped completely, while the viable ones were completed.

He said, “Thus far, we have completed 30 of the high and medium priority projects and inaugurated about 10 of them.

“We hope to inaugurate many soon as movement restrictions associated COVID-19 pandemic abates.”