Dangote FG signs N11.5bn road contract with billionaire's company

Managing Director of Dangote Group, Ashif Juma said the project would be completed within 16 months.

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Aliko Dangote play

Aliko Dangote at the U.S. Africa Business Forum in New York, U.S., on Wednesday, Sept. 21, 2016

(Michael Nagle/Bloomberg via Getty Images)
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The Dangote Group has signed a contract worth N11.5 billion with the Federal Government for the construction of a 42.5 km Obajana-Kabba Road in Kogi State, the company said on Tuesday, November 22.

The regional spokesman for the group, Jibrin Abubakar, said in a statement issued in Abuja that the company will commence work immediately.

The Permanent Secretary, Federal Ministry of Power, Works and Housing, Magaji Gusau, signed on behalf of the Federal Government, while the Adviser to the President of the Dangote Group, Joseph Makoju, signed on behalf of the group.

According to the statement, the contract was awarded to the Group on tax concession basis at N5.24 billion, with N6.2bn difference being the corporate social responsibility of the conglomerate.

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Managing Director of Dangote Group, Ashif Juma said the project would be completed within 16 months.

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