Recent statements attributed to the Honourable Minister of Works, Senator David Umahi, CON, during his visit to the Abuja-Kaduna-Zaria-Kano (AKR) Highway project site, and a wave of media reports ongoing have raised concerns.
While we recognise and respect the Honourable Minister’s commitment to Nigeria’s infrastructure, it is imperative to clarify key facts regarding the AKR project and Julius Berger’s performance.
Project Background and Economic Realities
Julius Berger strives to deliver transformative infrastructure solutions whilst adhering to agreed budgets, timelines and best-in-class sustainability standards. The company has a long-standing track record attesting to the integrity of this commitment.
The AKR Highway project was costed in 2017, before being flagged off in 2018, at which time inflation was approximately 16.5%. Since then, Nigeria has faced significant socio-economic challenges, including but not limited to inflation now exceeding 30% and exchange rate…
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