Bi-Courtney Highway Services has said it has not been formally notified of the decision of the Federal Government to cancel its concession agreement to reconstruct the Lagos-Ibadan Expressway.
Reacting to Monday’s termination of the agreement, the company said, “We have not been formally informed about the cancellation of the concession agreement and the process that led to it.”
It said in a public announcement, “We would like to thank all parties to this transaction, all shareholders and other stakeholders for their belief in the Nigerian spirit, which propelled them to participate and invest heavily in this epoch-making project. We also want to thank all Nigerians who have been with us on this fascinating, yet tortuous, journey.
“We have no doubt that the issues would be resolved in a manner that would rekindle the Nigerian spirit of enterprise, scholarship, courage, and persistence.”
However, a Presidency source justified the cancellation of the agreement, but some stakeholders are raising some fundamental posers for the Federal Government.
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