Mr Musa Odiniya, the Deputy Director of Procurement in the Federal Ministry of Education, gave the warning on Thursday when he led a team of the Inter-Ministerial Committee on Government Projects to the university.
Contractors handling projects at the Federal University, Oye-Ekiti in Ekiti State have been warned to complete the projects in November or risk revocation of their contracts.
Odiniya said that the committee would not hesitate to take punitive measures against erring contractors.
He warned that Tripod Nigeria Ltd. and Dumaco Best, handling the Central Administrative Block and the University Library projects, respectively, must stick to the November, 2016 deadline agreed on.
The Vice Chancellor of the university, Prof. Kayode Soremekun, who conducted the team round the project sites, expressed disappointment at the slow pace of work on the two projects.
Soremekun scolded the contractors for delay.
“The works done so far are not commensurate with funds released to the contractors,’’ he said.
He also warned the contractors to double their efforts or risk forfeiting the contracts.
The vice chancellor applauded the Federal Government for prompt release of funds for the projects, and promised to use them judiciously.