The Federal Government has terminated the concession of the Lagos-Ibadan expressway granted to Bi-Courtney Consortium on 8th May, 2009 and immediately engaged Julius Berger and RCC to commence immediate reconstruction of the expressway.
The termination of the concession agreement by Bi-Courtney consortium was due to the failure of the company to reach financial close as provided for in the agreement.
Due to the senseless carnages on the Lagos-Ibadan expressway which is part of Arterial Route A1, the Federal Government has also decided to embark on the emergency reconstruction of the expressway.
Consequently, the Federal ministry of Works has engaged the services of Julius Berger Plc and R.C.C Nigeria Limited to commence work immediately on the reconstruction of the expressway.
While Julius Berger would handle handle section 1: from Lagos to Shagamu interchange, RCC Nigeria Limited will be responsible for section II: from Shagamu to Ibadan.
The federal Government wishes to assure that while it will continue to uphold the sanctity of contracts entered into by the federal government, it will not shy away from implementing provisions of the contract agreement dealing with non-performance on the part of the contracting party.