N17.8bn contract, N27bn spent: Kwara govt finally admits hotel renovation cost ballooned by N9.2bn

The Kwara State Government has publicly disclosed for the first time that it spent approximately N27 billion renovating and equipping the controversial Kwara Hotel — N9.2 billion above the originally announced contract sum of N17.8 billion — without providing any explanation for the cost overrun, SaharaReporters reports.

Senior Special Assistant Abdulateef Ibrahim Akolu made the disclosure on Diamond FM in Ilorin, defending the expenditure by citing the hotel’s 178 rooms and approximately 10 lifts, each costing between N600 million and N1 billion.

“The money spent on the hotel is less than N30 billion, and in total, the amount is around N27 billion for the renovation and all the equipment bought inside it,” Akolu said.

The government has not explained when the additional N9.2 billion was approved, who authorised it or what specific items it covered.