The Federal Government may terminate the rail contract it awarded to the China Civil Engineer Construction Company (CCECC) over the firm’s alleged failure to provide the agreed 85 per cent counterpart fund for the project.
The Minister of Transportation, Mu’azu Sambo gave the indication on Saturday, while briefing newsmen in Lagos at the end of a tour of the Lekki Deep Seaport to ascertain the level of work done so far at the port.
Sambo who frowned at the attitude of the Chinese firm said two years after the agreement was signed, CCECC is yet to provide anything out of its own 85 per cent counterpart fund.
According to him, the agreement stipulates that CCECC are to provide 85 per cent of the project cost, while the government provides the remaining 15 per cent.
“I have given them till October 2022 to fulfil their own part of the agreement or stiff sanction would be meted out on them
“How could it be said that two years after the agreement was signed, CCECC is yet to provide a Dollar” he said.
However, the Minister did not elaborate on which of the railway projects, as the CCECC are handling many such projects in Nigeria.