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FG & Dangote Group sign N11.5bn Contract for Concrete road Project in Kogi

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Aliko Dangote, president and chief executive officer of Dangote Sugar Refinery Plc, speaks during the U.S. Africa Business Forum in New York, U.S., on Wednesday, Sept. 21, 2016. The forum focuses on trade and investment opportunities on the continent for African heads of government and American business leaders. Photographer: Michael Nagle/Bloomberg via Getty Images

Aliko Dangote

The Dangote Group said on Tuesday it had signed a contract with the Federal Government for the construction of the 42.5KM Obajana-Kabba Road in Kogi.

According to a statement by the Regional spokesman of the conglomerate, Jibrin Abubakar, in Abuja, work will commence in full on the project after signing the document in Abuja.

The Permanent Secretary, Federal Ministry of Power, Works and Housing, Magaji Gusau, signed on behalf of the Federal Government, while the Adviser to the President of the Dangote Group, Joseph Makoju, signed on behalf of the group.

Makoju said the exercise was a milestone in the history of Nigeria.

The rigid pavement is to be built by the AG Dangote Construction Company.

The project will cost the Group N11.5 billion but the job was awarded to the Group on tax concession basis at N5.24 billion.

The difference of N6.2 billion is part of the corporate social responsibility of the Dangote Group.

The Managing Director of the AG Dangote, Ashif Juma, said the contract duration was 24 months, but that the Group had set a target for its completion at 16 months.

Recall that the Dangote Group commissioned the 26 Km Itori-Ibese concrete road in Ogun in June.

Photo Credit: Michael Nagle/Bloomberg via Getty Images

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