JONATHAN’S RELATION’S CONSTRUCTION COMPANY TO DOWNSIZE

FCT construction coy to reduce workforce

An Abuja-based construction firm, Kakatar Construction and Engineering Limited, owned by former President Jonathan’s top ally and. currently handling three critical projects for the Federal Capital Development Authority (FCDA), has said it will not be able to meet up with its financial obligations leading to further reduction of its workforce.
The company said ongoing capital projects in the Federal Capital Territory (FCT), whose entire contract sum represents 25 percent of the Federal Capital Development Authority’s 2016 budget on capital projects, threatened to be stalled following the continued freezing of bank accounts by security agencies.

The projects, according to sources, include provision of engineering infrastructure to Maitama and Kyami districts and the popular Karshi-Apo road, noting that the freezing of Kakatar’s account will affect the early completion of all the projects.
The source added that all the ongoing projects have direct impact on the residents of the FCT especially those on the Karshi-Apo road axis aimed at decongesting the Nyanya-Mararaba road.
When contacted the company’s spokesman, Mr. Austin Ekeinde said that the firm has sacked most of its workforce and is under pressure to sack more.
According to him, “I can confirm to you that the company is planning to reduce its workforce due to financial challenges and is not peculiar to Kakatar alone.
“Other major construction firms in the country are facing the same financial challenges. However, I can assure you that Kakatar will soon overcome its financial challenge and mobilize to various sites because of the benefits some of these projects have on the residents of the territory.”By Richard P. Ngbokai

An Abuja-based construction firm, Kakatar Construction and Engineering Limited, currently handling three critical projects for the Federal Capital Development Authority (FCDA), has said it will not be able to meet up with its financial obligations leading to further reduction of its workforce.
The company said ongoing capital projects in the Federal Capital Territory (FCT), whose entire contract sum represents 25 percent of the Federal Capital Development Authority’s 2016 budget on capital projects, threatened to be stalled following the continued freezing of bank accounts by security agencies.
The projects, according to sources, include provision of engineering infrastructure to Maitama and Kyami districts and the popular Karshi-Apo road, noting that the freezing of Kakatar’s account will affect the early completion of all the projects.
The source added that all the ongoing projects have direct impact on the residents of the FCT especially those on the Karshi-Apo road axis aimed at decongesting the Nyanya-Mararaba road.
When contacted the company’s spokesman, Mr. Austin Ekeinde said that the firm has sacked most of its workforce and is under pressure to sack more.
According to him, “I can confirm to you that the company is planning to reduce its workforce due to financial challenges and is not peculiar to Kakatar alone.
“Other major construction firms in the country are facing the same financial challenges. However, I can assure you that Kakatar will soon overcome its financial challenge and mobilize to various sites because of the benefits some of these projects have on the residents of the territory.”

Read more at http://www.dailytrust.com.ng/news/city-news/fct-construction-coy-to-reduce-workforce/159891.html#3r0Imex7JkEAkRTA.99

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