6.8 Fund for the Completion of FGN 2010 Capital Projects

Council received a proposal on the modalities for the completion of FGN 2010 Capital Projects.

Council noted the amount initially approved for UNAAB in the 2011 FGN capital grant which was later reviewed downward with only 54% thereof appropriated.

Council noted the total value of contracts awarded under the reviewed 2010 capital appropriation out of which only 48.2% of the reviewed appropriation had been released to the University, to date, by the Federal Government.

Council noted the plan of Management to fund the balance of 51.8% from the IGR of the University and that part of the balance had already been released to the projects from IGR as at May 11, 2011, leaving a balance to complete the already awarded contracts which were at various stages of completion.

Council noted the good intention of the present administration of the University not to abandon any project and also noted the significant under funding (only 48.2%) of the already awarded 2010 Capital Projects by the Federal Government which had caused financial implementation problem.

Council commended Management’s efforts in keeping the contracts going even as funds were not released by the government as promised.

Council noted that though FGN encouraged the University to go ahead with the 2010 projects, it did not release funds as promised.

Council also noted that contractors were not owed to the extent of taking the University to court as provided in the contract clause.

Council considered and ratified the money spent by Management from IGR on the projects and approved further ejection from IGR, for the completion of the 2010 Capital Grant Projects so that the University would not be littered with abandoned projects.

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