The government has offered an additional N20.5bn to the contractor building the 35.7km Bodo-Bonny Road and Bridge projects in Rivers State to finish the project by December 2024, or face termination.
The government has set a new deadline of December 2024 to finish the project.
During a meeting in Abuja, Minister of Works, David Umahi made the offer to contractors and the peace committee from Bonny Kingdom.
The project was awarded in 2017 between the ministry and Nigeria LNG Limited to Julius Berger at the cost of N120.6bn, and was supposed to be funded 50% by Nigeria LNG Limited.
The 39 km long road is the first road link between Bonny Island and the rest of Rivers State.
The project's progress was stopped by a force majeur declared by the company due to the dwindling exchange rate, despite the ministry ordering the company back to the site last year December.
The construction company requested an additional N28.8bn to construct the remaining section of the 39 km road, which is 84% completed.
At the ministry headquarters, Umahi stated that if the contractor does not accept the offer by Friday and resume work, the previously expired 14-day ultimatum for their return will be enforced.
The minister stressed the legal requirement for both parties to review the contract terms before signing it and emphasized that no contractor has the authority to dictate terms to the Federal Government on an agreed-upon contract.
The government is willing to provide N20bn out of the N28bn the contractor is requesting.
Umahi expressed refusal to sign any contract based on the exchange rate, citing that a contract that was signed in naira cannot be implemented in dollars. He also criticized Julius Berger for stopping work without a grace period.
Umahi made an offer to pay N20.5bn out of the N28bn and mentioned seeking presidential approval for this. However, he warned that if there is no response by Friday, the contract may be terminated.
The government rejected the conditions of Julius Berger and asked them to go back to the site to complete the project based on their offer, emphasizing that the offer is unconditional.
Umahi warned of a proposal if Julius Berger does not agree with the terms after the termination ultimatum has passed.
Before agreeing to pay N20bn out of the N28bn requested by Julius Berger, Umahi had stated that the ministry would only allocate N13.8b, resulting in an N15b disparity.
The minister warned Julius Berger to be more humble when working with the client (Federal government) and to also support them during economic hard times, considering the significant benefits it had received when the country's economy was doing well.
The 39km long road has drainage channels and two small bridges with a span of 23m each, as well as two creek bridges: Afa Creek Bridge, which is about 530m long, and Nanabie Creek Bridge, which is about 640m long. Additionally, a major river bridge of about 750m long over the Opobo Channel is being constructed.
The minister also warned Julius Berger to demonstrate humility in its dealings with its clients and to support them during economic difficulties, considering the substantial benefits it had received during the country's prosperous economic times.
He stated that the ministry under his leadership will not approve changes in contract based on foreign exchange rates and will not make payment for changes unless instructed by the President.
