Former banker, Okon Etim-Etim, has expressed skepticism over the N39 billion renovation cost for the International Conference Centre in Abuja, calling for greater transparency in federal project funding.
Etim-Etim expressed his concerns on Channel Television’s Inside Sources with Laolu Akande on Friday, while calling for more transparency in the allocation of funds for federal projects.
”Even if you discount the inflation and all the devaluations, you cannot account for N39 billion, ” he said.
He further questioned how the International Conference Centre constructed for under N300 million in 1991, could now require N39 billion in renovation costs, saying, ”Even if you discount the inflation and all the devaluations, you cannot account for N39 billion.
”The quality of governance has degenerated. People are complaining of authoritarian tendencies, people are complaining about a lack of the rule of law, and a lack of transparency in some of the transactions we’ve seen, ” he said.
Etim-Etim was responding to questions about President Bola Tinubu’s administration’s two-year performance.
He sharply criticised what he described as a decline in the quality of governance and a worrying lack of transparency in federal projects and public officials’ conduct.
Etim-Etim criticised the current administration’s governance, citing a decline in transparency and the rule of law.
Many have described the N39 billion renovation cost as outrageous, sparking widespread criticism.
Meanwhile, the FCT Minister, Nyesom Wike defended the project cost, saying the centre needed an overhaul and that critics “don’t have good taste”.
Wike also defended the decision to rename the centre after President Tinubu, citing examples of other buildings named after prominent figures.
The controversy surrounding the renovation cost has sparked debate about government spending and priorities.
Etim-Etim’s concerns highlight the need for greater transparency and accountability in federal project funding.
