Monday, 19 November 2012
FG Sacks Bi-Courtney, Hires Julius Berger, RCC
The Federal Government on Monday terminated its concessional agreement with Bi-Courtney Consortium for the reconstruction of the 125-kilometre Lagos – Ibadan Expressway.
The government, while announcing the revocation of the contract with Bi-Courtney, said both Julius Berger Nigeria Plc and RCC Nigeria Limited had been hired to do the job.
The government accused Bi-Courtney, owned by billionaire businessman, Wale Babalakin, of serially breaching the terms of the concession agreement signed by both parties on May 26, 2009 under the late President Umaru Yar’Adua administration.
But Bi-Courtney spokesman, Dipo Kehinde, said the government had been unfair to the company, insisting that it had kept its side of the agreement while the other party did not. “They were just looking for excuses for us to fail,” Kehinde told The PUNCH.