HON. JUSTICE ADAMU JAURO, J.C.A. (Delivered the Leading Judgment): This is an appeal against the judgment of the High Court of Lagos State, per Y.O. Idowu J, delivered on 8th December 2006. By the said judgment, the claims of the claimant now respondent against the defendant now appellant were granted as per writ of summons dated 7th November, 2000 to the tune of N7,533,735.00 with 21% interest from 18/11/97 until date of judgment and 6% until judgment sum is liquidated.
The facts giving rise to this appeal are as follows. The respondent's case is that by virtue of a subcontract agreement, it awarded the Ogunpa Channelisation Project at the Ibadan Storm Drainage and Flood Control Works Phase 1 to the Appellant. The total contract sum was N97,797.275.00 (Ninety Seven Million, Seven Hundred and Ninety Seven Thousand Two Hundred and Seventy Five Naira). The terms of the subcontract were contained in a letter dated 19th December 1996 and the appellant signed an acceptance slip dated 20th…