Date: 2016-08-26

Contractors handling various ongoing and new infrastructural projects in Kwara State have thrown their weight behind the state government's Infrastructural Development Fund (IFK).

The contractors gave the endorsement yesterday, the second day of their interactive meeting with members of the IFK Implementation Committee.

A consultant, Engr. Kola Shittu who was at the meeting, said that the scheme had been successfully implemented in the country before, adding that it would ensure contractors deliver high quality projects and also ensure they are not owed.

He expressed delight with the state government's decision to establish IFK, which he described as creative and timely, while also pledging his support and that of his colleagues to the scheme.

Engr. Shittu urged the IFK Implementation Committee to use the scheme to checkmate low quality jobs, stressing that the state Ministry of Works and the Independent project consultants must ensure that no contractor was issued a certificate of completion if the quality of work done fails to meet required standards.

Also speaking, the Chairman of Sky Technical and Construction Company Limited, Mr. Kabiru Sani Yakasai commended the state governor, Alhaji Abdulfatah Ahmed for introducing IFK, and assured that all the contractors at the meeting were fully prepared to key into it.

Mr. Yakasai, who said he had been working with the state government for a long time, described IFK as unique and innovative, adding that it provides contractors with confidence and assurance that they could embark on projects and get paid as scheduled.

He also pledged that they would maintain the quality standards they had been providing the state government over the years. He, however, expressed concerns over the fluctuation in foreign exchange and how it might affect contractors' ability to execute projects.

Earlier in his address, the alternate Chairman of the IFK implementation Committee, Alhaji Abdulwahab Babatunde explained that the state government came up with the scheme to provide a sustainable means of ensuring continued implementation of major capital projects and timely payment of contractors.

According to him, the scheme would also enable contractors to adequately plan their finances and projects knowing that they will receive money at specific milestones that they would have agreed with the IFK project trustees.

Alhaji Babatunde emphasized that the infrastructure development fund was backed by law and the trustees would be completely independent of the state government, adding that this prevents the government from using the fund to cater for other obligations aside infrastructural projects.

He explained that although, the state government was committed to contributing N300m from its IGR monthly into the fund, it will consider increasing the contribution if federal allocation improved significantly.

s#Source: HeraldNews