The Council for the Regulation of Engineering in Nigeria, COREN, has called on the Federal Government to monitor the utilisation of the N100 billion Sukuk fund released to contractors for road projects.
Kashim Ali, the president of COREN made the call on Tuesday in Abuja in an interview with the News Agency of Nigeria.
Mr Ali said the call became imperative because contractors were being owed for a very long time and that might impact negatively on the fund.
“Now that the contractors have money, the next thing for them to do is to mobilise.
“But because they are just coming from a long holiday of some sort, there is need for vigilance on the part of the supervisory team.
“A contractor who has been owed for a long time is like a wounded lion, he could come in with some negative tendencies wanting maybe to take as much money as possible.
“So there is a need; at times like this, for everybody to be vigilant, not even only those in the Ministry of Works, but those of us who are also outside could be helpful,” he said.
He commended the Federal Government for embracing the Sukuk fund, adding that it is a viable alternative for funding infrastructure in many countries.
He decried the rate of abandoned road projects in the country and called for proper management of resources on the part of the Federal Government.
“If you were going to commit N5 on a section of the road that you commenced and abandoned, by the time you come back, the cost of the road would be double.
“Government should manage its resources well such that it only awards what it can pay for.
“That way, you take one, complete it and move to the next one instead of having so many constructions at the same time and there are no funds to manage them,” Mr Ali said.