A construction firm, ENL Consortium Ltd, has asked the Oyo state government to pay it its N10.6 billion compensation or face legal action over the termination of the first phase of the Ibadan circular road contract.
The company’s chairman, Prince Clement Adesuyi Haastrup, made the request in Ibadan while speaking with journalists on the termination of the Ibadan circular road by the Governor Seyi Makinde-led administration.
According to him, the firm will not hesitate to seek justice at a London Arbitration Court if the Oyo state government fails to pay the N10.6 billion compensation.
Haastrup gave details of the compensation as N3.9 billion already expended on the project and N6.7 billion penalty being 10 per cent of the total contract sum in case of such termination.
He said the terms of the contract road were clearly stated in the contract signed by both parties in 2017, and that the firm would remain on site until the sum was paid
