Follow Us on Google
Chijioke Agwu, Abakaliki
Ebonyi government, yesterday, assured that it would not allow the $70million borrowed from the Africa Development Bank (AfDB) for the reconstruction of the Abakaliki ring road to be diverted.
It said it would ensure the funds are properly monitored and utilised until the project,constructed on rigid pavement, is completed.
Commissioner for Finance and Economic Development, Prof. Ogbonnaya Chukwu, gave the assurance while briefing journalists on the N178 billion 2020 appropriation law. He said the state needed about $150 million to complete the project.
Chukwu said work would commence on the road in March 2020 as talks between the government and the Islamic Development Bank (IDB) for the release of the remaining $80 million had advanced.
According to him, the increase in the 2020 budget was due to the loan obtained from the Africa Development Bank for the reconstruction of the ring road.
“It is pertinent to state that the fund is still with the AFDB and not paid into the state’s account as the contractors will generate certificate and get paid directly from the Central Bank of Nigeria(CBN),” he said.
