Plateau opts for loan to complete new Jos Stadium

THE Plateau Government says it will secure bank loan to complete the multi-billion naira new Jos Stadium under construction.

The state Commissioner for Housing and Urban Development, Mr. Samuel Galadima, made this known on Saturday in Jos during an inspection tour of the stadium.

Galadima expressed dissatisfaction with the delay in completing the project adding that the present administration is ready and committed to completing it.

“Governor Simon Lalong is keen at completing this stadium as soon as possible.

“The only challenge of the government is finance, but we are planning to obtain a bank loan that will enable us complete the project.

“We are aware that once this stadium is completed, the state will be a tourists’ centre, where the whole world will converge for sporting events considering our good and unique weather, ” he said.

The commissioner added that further delay would mean spending more money on the project considering the value of the naira compared with the US Dollar and Euro.

He said once completed, the state internally generated revenue would be boosted.

Earlier, the contractor, Mr Plamen iliev, Managing Director, BCC Tropical Nig Limited, said works stopped at the site in March 2015 because of lack of fund.

“I presently have four pending certificates amounting to over N600m for payment; the last payment we got was last march, ” he said.

Iliev disclosed that the contract sum was N11. 3bn and that N6.8 bn had so far been expended on the stadium leaving a balance of N4.5 billion.

He said the company was ready to go back to site and complete the project as soon as fund was made available.

Advertisement