Lagos-Ibadan expressway: FG kicks out Bi-Courtney, award contracts to Berger, RCC

The Federal Government on Monday terminated the concession of the Lagos-Ibadan expressway granted to Bi-Courtney consortium on May 2009. The termination of the concession contract follows the promise made by President Goodluck Jonathan during Sunday's media chat where he promised to 'fix the Lagos-Ibadan expressway'. "As a responsible government, I don't think we can allow Nigerians to continue to suffer. All of us in government, we feel pained that the country is held ransom because of a transaction that probably was not consummated properly because of some kind of issues. But we cannot continue like this, we will intervene on that road," President Jonathan had said. Announcing the end of the contract between Bi-Courtney and the government at a press conference in Abuja, the Minister of Works, Mike Onolememen said the termination of the concession is consequent on the serial breaches of the concession agreement by Bi-Courtney consortium and especially the failure of the company to reach financial close as provided for in the agreement.