The Ibadan Circular Road project in Nigeria has been surrounded by controversy, with allegations of irregularities and questionable contractor qualifications.
The project, aimed at easing traffic congestion and boosting urban development, has faced delays and conflicting contract pricing.
The contract was initially awarded to ENL Consortium Ltd, but due to slow progress and disagreements, it was later re-awarded to a new company called SEL-VYDRA consortium for a staggering N138.2bn. Concerns emerged about the consortium’s lack of experience and transparency in the award process.
The Oyo State government defended its actions, citing the use of Special Purpose Vehicles allowed by relevant laws. However, the registration and qualifications of SEL-VYDRA raise significant questions about the decision to award them the contract.
The involvement of individuals with political connections to the governor and the chairman of a well-established construction company also raises concerns about personal interests in the project.
The paragraph discusses the existence and questionable nature of Vydra Investment, a company registered in 2018 with directors who are also affiliated with Austen-Peters & Co law firm. There are suspicions of connections and potential beneficial ownership between Vydra and other entities, including Dorman Long Engineering Limited, and government officials such as Governor Seyi Makinde.
The Oyo State Procurement Law prohibits government personnel involvement in procurement processes. The ENL Consortium has filed a lawsuit claiming that the contract for the Ibadan Circular Road project was awarded to SEL-Vydra in bad faith and subsequently reassigned to other entities.
Efforts to contact the involved parties for comments have been unsuccessful. Concerns are raised about the motives behind awarding the project to SEL-Vydra and the potential enrichment of private bodies using public funds.
The investigation is supported by the John D. and Catherine T. MacArthur Foundation and the International Centre for Investigative Reporting.
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