The Federal Executive Council (FEC) on Wednesday approved a memo for the resuscitation and completion of the 50 kilometre dual carriage Kaduna Eastern bypass highway.
The Minister of Power, Works and Housing, Babatunde Fashola, stated this while briefing State House reporters after the FEC meeting.
The minister said the dual carriage highway "with nine bridges over rivers and rail crossings", would gulp N32 billion.
He said the project, which was started in 2002, "was initially planned to have been complete within three years; but 15 years after, it remains uncompleted."
Fashola said: "The project was first awarded in 2002. It was N12 billion. We have had to get approval for N22 billion verbatim and so, that takes that project cost now to N32 billion.
"The contractor was paid N5.5 billion in 2002. If we had paid the contractor N11 billion then when exchange rate was N109, it would have fetched us $96 million. if you multiply $96 million today even at offices, rate of N305 is now N29 billion."
