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Devaluation of Naira, COVID-19 pandemic affecting road construction in Nigeria – Contractor handling Ibadan road



The contractor dealing with Ibadan/ Iseyin Highway has declared that the continued devaluation of Naira and COVID-19 pandemic had been negatively affecting street development in Nigeria.

Engineer Paul Chamoun who’s the location engineer of the undertaking, made this disclosure whereas conducting journalists on an inspection tour of the continued reconstruction undertaking of the Ibadan/ Iseyin Highway.

Chamoun who spoke on behalf of Kopek Building on Thursday in Ibadan mentioned that devaluation of Naira, COVID-19 and the ENDSARS protests which came about final 12 months affected development of roads within the nation.

He mentioned that undertaking that are purported to be accomplished in eleven months couldn’t be accomplished as promised as a result of devaluation of Naira, COVID-19 pandemic, ENDSARS protests and lockdown in some states final 12 months.

Chamoun whereas talking additional, mentioned {that a} bag of cement which was bought for about N2,300 final 12 months is now bought on the charge of N4,200 on account of forex devaluation occasioned by excessive inflation.

He added that contractors throughout the nation are actually spending extra money in buy of supplies, a scenario which tends to have unfavorable impacts on initiatives.cement

“As I informed you, devaluation of naira is an enormous problem that we confronted. In February, it was purported to be twelve months and that is Could. So, these three months, take a look at ENDSARS and a few modifications within the rain. There are such a lot of challenges.

“We had been purported to have completed this undertaking in eleven months, however we now have extra three months as a result of challenges we confronted. We aren’t the one ones, all different corporations are going through these challenges.

“The challenges of lockdown, devaluation of Naira, ENDSARS and COVID-19 pandemic. They’re huge challenges going through us.

“However regardless of the challenges, we had been in a position to full the undertaking. The undertaking is 100 per cent completion. From Moniya to Iseyin, it’s 100 per cent completion.

“I can tell you that with all of the challenges we face, like every other initiatives, there are often challenges, however we face greater than the traditional challenges this time, the COVID-19 pandemic, the ENDSARS, the lockdown and for certain, the devaluation of Naira are huge challenges we now face.”