{"id":44049,"date":"2021-05-28T15:13:29","date_gmt":"2021-05-28T15:13:29","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/?p=44049"},"modified":"2021-05-28T12:55:46","modified_gmt":"2021-05-28T12:55:46","slug":"devaluation-of-naira-covid-19-pandemic-affecting-road-construction-in-nigeria-contractor-handling-ibadan-road","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/devaluation-of-naira-covid-19-pandemic-affecting-road-construction-in-nigeria-contractor-handling-ibadan-road","title":{"rendered":"Devaluation of Naira, COVID-19 pandemic affecting road construction in Nigeria \u2013 Contractor handling Ibadan road"},"content":{"rendered":"

Africa-Press<\/a> – Nigeria<\/a>. <\/strong><\/span>The contractor handling Ibadan\/ Iseyin Road has declared that the continued devaluation of Naira and COVID-19 pandemic were negatively affecting road construction in Nigeria.<\/p>\n

Engineer Paul Chamoun who is the site engineer of the project, made this disclosure while conducting journalists on an inspection tour of the ongoing reconstruction project of the Ibadan\/ Iseyin Road.<\/p>\n

Chamoun who spoke on behalf of Kopek Construction on Thursday in Ibadan said that devaluation of Naira, COVID-19 and the ENDSARS protests which took place last year affected construction of roads in the country.<\/p>\n

He said that project which are supposed to be completed in eleven months could not be completed as promised due to the devaluation of Naira, COVID-19 pandemic, ENDSARS protests and lockdown in some states last year.<\/p>\n

Chamoun while speaking further, said that a bag of cement which was sold for about N2,300 last year is now sold at the rate of N4,200 due to currency devaluation occasioned by high inflation.<\/p>\n

He added that contractors across the country are now spending more money in purchase of materials, a situation which tends to have negative impacts on projects.<\/p>\n

\u201cAs I told you, devaluation of naira is a big challenge that we faced. In February, it was supposed to be twelve months and this is May. So, these three months, look at ENDSARS and some changes in the rain. There are so many challenges.<\/p>\n

\u201cWe were supposed to have finished this project in eleven months, but we have additional three months due to the challenges we faced. We are not the only ones, all other companies are facing these challenges.<\/p>\n

\u201cThe challenges of lockdown, devaluation of Naira, ENDSARS and COVID-19 pandemic. They are big challenges facing us.<\/p>\n

\u201cBut despite the challenges, we were able to complete the project. The project is 100 per cent completion. From Moniya to Iseyin, it is 100 per cent completion.<\/p>\n

\u201cI can tell you that with all the challenges we face, like any other projects, there are usually challenges, but we face more than the normal challenges this time, the COVID-19 pandemic, the ENDSARS, the lockdown and for sure, the devaluation of Naira are big challenges we now face.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. The contractor handling Ibadan\/ Iseyin Road has declared that the continued devaluation of Naira and COVID-19 pandemic were negatively affecting road construction in Nigeria. Engineer Paul Chamoun who is the site engineer of the project, made this disclosure while conducting journalists on an inspection tour of the ongoing reconstruction project of the […]<\/p>\n","protected":false},"author":84,"featured_media":44048,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15,29,28,26],"tags":[1570,2140,4368,1585,4367,1623,254],"class_list":["post-44049","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-nigeria-2","tag-contractor","tag-covid-19-2","tag-ibadan-road","tag-naira","tag-nigeria"],"yoast_head":"\nDevaluation of Naira, COVID-19 pandemic affecting road construction in Nigeria \u2013 Contractor handling Ibadan road - Nigeria<\/title>\n<meta name=\"description\" content=\"The contractor handling 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