Michael James
Leeds, UK —The Nigeria Export Processing Zones Authority, NEPZA, has vowed to call up contract bonds from companies that willfully prolong execution of assigned projects with the hope of triggering `variation clause’.
Managing Director of NEPZA, Prof. Adesoji Adesugba, disclosed this in Abuja as he received a report on the NEPZA 2017-2021 Capital Projects from the Joint Capital Projects Monitoring Committee with members from the Authority and the Ministry of Industry, Trade and Investment.
Adesugba said he had insisted in the transparent conduct of contracts bidding since assuming leadership of the agency in 2020, adding that the management would not hesitate in pointing out erring contractors.
“I have for these past years stood on my resolve to ensure transparency and due process and probity in the manner in which all contracts are handled here.
“We shall, therefore, not waste time in retrieving contract bonds from contracted companies that needlessly breach agreed terms. We have to insist that the Federal Government obtains quality service from the huge spending it is making to improve the infrastructure of the country’s Free Trade Zone,” the NEPZA boss said.
He expressed delight on the supervision tours embarked by the committee, adding that the report had highlighted the gray areas that required urgent handling.
Adesugba explained that the report would serve as an evaluation guide and that it was also open to the public and relevant institutions of government to study.
The NEPZA chief executive officer also said the report would be updated in February 2023 after a follow-up assessment of the remaining ongoing projects would have been conducted.
Recall that the committee completed scheduled inspections of 112 approved projects for the authority in September.
These projects came under the NEPZA Tender Board of 2017-2021, direct Federal Executive Council approval and the Ministerial Tender Board of Capital Projects respectively.
Out of these 112 projects, a total of 76 have been completed with the CFTZ accounting for 28; KFTZ 38; Lekki SEZ 5; and Ilorin SEZ 5 while others are at different levels of completion.
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