The contract, which was initially awarded to Julius Berger in 2010 for N7 billion, was not executed as planned owing to lack of funds.
The Minister of the Federal Capital Territory, Nyesom Wike, has re-awarded the contract for the construction of the official residence of the Nigerian Vice President to Messrs Julius Berger for N15 billion.
The cost is now more than double the amount the contract was first awarded in 2010.
Mr Wike, who spoke during an inspection of the project on Tuesday, said the contract, which was initially awarded to Julius Berger in 2010 for N7 billion, was not executed as planned owing to lack of funds.
He said the company will receive the necessary funds to complete the project by May 2024.
Mr Wike expressed confidence in the company's ability to complete the project within eight months and promised to mobilise it before December.
He lamented the increased cost of executing projects that were awarded years ago but abandoned, adding that the hike in cost was putting a lot of strain on the finances of the FCTA and stunting the growth and development of the nation's capital.
"You made a promise to us that you will complete this project within 7/8 months. Even though we have not mobilised you, you have shown concern by working.
"It is very important and shows that you have confidence in us. Let me assure you that we will mobilise you before December. After that, you have to expedite work to ensure completion before May 29, 2024."
"I believe that you can achieve that. I also believe there is no need to wait. If you know my antecedent, you know that I don't make promises I cannot fulfil.
"As far as I have gotten the support of Mr President and Vice President, I can tell you to go ahead and put everything in hand so that we can achieve this, so that all the stories of abandoned properties will no longer be there. It will be a thing of the past. The manpower shows that you are serious, so just go ahead and we will give you the funds to be able to mobilise.
"Look at the Vice President's residence that was awarded in 2010 at the cost of N7 billion. That project was abandoned. And we have called back Julius Berger and said look, can you complete this project within eight months? They said yes but they can't continue with it at the same cost, which is obvious.
"A project that was awarded in 2010 at N7billion and was abandoned because of no funding. They said they cannot do it for less than N15 billion, looking at the cost of building materials. We have told them that before the end of the month, we will fund them so that they can finish it."
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'Sign of renewed hope'
He said the move to complete of the project is a sign of renewed hope for the residents of Abuja. He expressed joy that abandoned projects are now being completed, and it is a breath of fresh air for the country.
Mr Wike promised to complete other abandoned projects within the FCT that have a significant impact on the residents of the nation's capital.
He added that he is attaching the Internally Generated Revenue (IGR) to specified projects as his administration is working on improving its IGR to fund the projects to avoid making excuses.
"For me, we are happy because the promises made by Mr President of renewed hope have come back. Residents of Abuja are now seeing that projects abandoned are now being completed and they are seeing a renewed hope for this country and commend Mr President.
"As I speak to you today, we have done very well in terms of IGR and these monies would be attached to specific projects. So there is no reason to say there is no money to execute the projects. For example, what we are doing now. We have submitted some projects' budgets for 2023, Mr President has promised to transmit it to the National Assembly.
"We are asking if they should allow us to spend N61 billion before 2024 because we have the money and we want to use the money to execute specific projects so that by May 29, these projects are completed, then we take new other projects for 2024. So, be assured that no project we have started will be abandoned," Mr Wike said.
