N38 Billion Debt Endangers Abuja Millennium Tower Project

By Anthony Otaru

Abuja — For failing to pay an outstanding N38 billion owed it, the contractor handling the landmark Nigeria Cultural Centre and Millennium Tower in Abuja, Salini Construction Nigeria Limited, has abandoned the job.

The company admitted that the delay in completing the project was occasioned by inadequate funding from the Federal Government.Its Managing Director, Dr. Piero Capitanio, made the disclosure yesterday in Abuja during a tour of the centre and the Inner Southern Expressway (ISEX) by the Minister of the Federal Capital Territory (FCT), Malam Musa Bello.

The project was initiated in 2005 by former President Olusegun Obasanjo and is already 38 percent completed with over N35.7billion already sunk into it.Capitunio lamented that there was no budgetary provision this year for the job, made up of trademark cluster of three vertical towers that adorn the Abuja skies.

READ MORE: http://guardian.ng/news/n38b-debt-endangers-abuja-millennium-tower-project/