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Tag: FEC

  • FEC okays N35.613bn for roads projects

    The Federal Executive Council (FEC) meeting on Wednesday approved a total sum of N35.613 billion for roads and bridge projects in the country.

    The Minister of Power, Works and Housing, Babatunde Fashola, briefed State House correspondents at the end of FEC meeting presided over by President Muhammadu Buhari at the Presidential Villa, Abuja.

    According to him, N8.9 billion was approved for construction of Ikom Bridge and road in Calabar, Cross River.

    According to Fashola, the projects will create access to the port for trailers to move freely with their containers and will be completed in 24 months.

    The minister said N11.78 billion was approved for road project in Yobe State, while N8.6 billion was approved for road project in Kwara State.

    While N5.4 billion was approved for road project in Abia State, N933 million was approved for automatic meter reading equipment for Transmission Company of Nigeria (TCN).

  • FEC okays N230.28b for roads, mining

    THE Federal Executive Council (FEC) meeting yesterday approved N230.28 billion for roads projects and mining data.

    Minister of Information Lai Mohammed and Minister of State for Mines and Steel Bawa Bwari briefed State House correspondents at the end of FEC meeting chaired by President Muhammadu Buhari at the Presidential Villa, Abuja.

    He said: “Also approved today is a contract for the link road and associated infrastructure for the Second Niger Bridge. The link road is about 11.9 kilometres. The contract was awarded to Julius Berger at N206 billion. The bridge is linking Anambra and Delta states.

    “If you remember, the contract was awarded by the last administration under a Public Private Partnership (PPP) arrangement, which failed.”

    According to him, N11.58 billion was approved for re-award of rehabilitation of Oji-Achi-Maku-Agu-Ndiabi section in Enugu State.

    “What happened was that the contract was awarded earlier to the company that failed and Setraco has now been re-awarded that section of the road, the minister said.

    According to him, $92 million was approved for gas pipeline project.

    He said: “Also approved is the total cost of Engineering, Procurement and Construction of the OB3 Gas Pipeline Project.  This is a project that has been awarded, but there is a need for redesigning.

    “The project is important because of delivery of gas from the Eastern part of the country to power turbines and to improve our power supply.”

    According to him, Minister of Finance Kemi Adeosun also presented three memos, which were approved by the council.

    The three memos, he said, included ratification of the multilateral competent authority agreement on automatic exchange of financial accounting information, ratification of the Africa 50th Articles of Association and the approval for the financial transparency policy guidelines.

    Bwari said the FEC okayed N12.7 billion for exploration and consultancy projects in the mining sector.

    The projects, he said, would help in getting accurate mining data, which will attract local and foreign investments.

    He said: “Our major challenge in diversification programme of the government in the mining sector has been that of data. Today, the Federal Executive Council approved the contract for exploration and consultancy on some of our targeted minerals like gold, industrial minerals, earth metals, iron ore for four companies in exploration and four companies in consultancy side of it and this contract is worth N12.7 billion.

    “And with this, we will encourage both local and foreign investors  to come in. Our major challenge is the bankable data. Most mining companies will not want to come into your country when they are not sure of what they are going to meet. “

  • FEC okays N192.9b for projects

    The Federal Executive Council (FEC) yesterday approved N192.9 billion to fix  roads and bridges.

    Minister of State for Power, Works and Housing, Mustapha Shehuri told reporters that FEC approved N5.9 billion for the construction of 16.7 kilometers Suleja-Chaaza-Banguru Road and spur to Rafinsayin in Niger State.

    “It also provided for 15 meters of bridge construction.”

    With him at the post-FEC briefing were Minister of State Trasportation (Aviation) Hadi Sirika, Minister of Trade and Investment Okechukwu Enelamah and the Senior Special Assistant on Media and Publicity Garba Shehu.

    Shehu added: “Another memo approved is the dualisation of Ilorin-Jebba-Mokwa-Bokani road in Kwara and Niger states to CGC at the cost of N130 billion. The contract’s life span is 36 months.

    “The Council also approved construction of Ibi Bridge across River Benue connecting Taraba and Plateau states at the cost of N57 billion.”

    Enelamah said FEC also approved memo for effective implementation of project ‘Made in Nigeria’ for export.

    He said:  “The plan  is to begin the development of those economic zones across the six geopolitical zones as follows: Lagos, Katsina, Abia, Calabar, Kano.

    “In addition, the Council also approved pre-development work in develop of Green Field Special Economic Zone in Akwa  Ibom, Benue, Ebonyi, Edo, Gombe, Kwara, and Sokoto states with further roll out to other states in phase two.”

    He said FEC approved payments to consultations totalling N2.655 billion for various projects that will be undertaken by different consultations that will lead to implementation of these zones.

    He added “This is for one set of consultants. The aggregate amount which includes another set is N3.172 billion for all the special economic zones

    “The total budget for developing these zones will be in excess N250 billion and it will include partners.This is going to be done through something called The Nigerian Special Economic Zones Company Limited, which is a public private partnership.

    “The Federal Government is going to own 20 percent of that company and AFRIEXIM bank is going to be a shareholder and other investors like the Nigerian Sovereign Investment Authority and other international investors.”

     

     

  • Presidency affirms signing of 2018 Budget Wednesday

    …dismisses report on FEC

     

    The Presidency has affirmed that Muhammadu Buhari will sign the 2018 Appropriation Bill into law on Wednesday at 12p.m.

    Mr Femi Adesina, the Special Adviser to the President on Media and Publicity, affirmed this in a in statement in Abuja on Tuesday.

    The presidential aide had on June 13 disclosed that the president would sign the 2018 budget this week.

    He had said: “The position on the 2018 budget is that it will be signed next week. You will be told the specific date.

    “But one thing we are sure of is that the budget will be signed next week.’’

    The senate increased the 2018 budget from N8.612 trillion earlier proposed to N9.12 trillion.

    Read Also: Budget mess

    The senate also increased the crude oil benchmark for the budget from 45 dollars per barrel to 50.5 dollars per barrel.

    Meanwhile, Adesina has dismissed the media report that the Wednesday’s meeting of the Federal Executive Council (FEC) was cancelled due to the scheduled signing of the budget by the president.

    According to him, the FEC meeting will not hold due to the Eid-el-Fitr holidays last Friday and Monday which affected preparation of council’s memoranda.

  • FEC okays N1.6b for 68 anti-smuggling vehicles

    THE Federal Executive Council (FEC) has approved N1.6 billion for 68 vehicles for Nigeria Custom Service (NCS) anti-smuggling task force.

    Minister of Finance Kemi Adeosun made this known to State House correspondents at the end of FEC chaired by President Muhammadu Buhari at the Presidential Villa, Abuja.

    She was with Minister of State for Budget and National Planning Ahmed Zainab and Senior Special Assistant on Media and Publicity Garba Shehu.

    According to her, the memo was on behalf of the NCS anti-smuggling task force.

    She said: “The operational vehicles currently available for the NCS are grossly inadequate for effective anti-smuggling activities.

    “The need to effectively patrol the borders of the country, enhance Customs’ bid to suppress smuggling and increase revenue collection gave rise to the request to purchase 68 operational vehicles.

    “Having identified the need, the service made provision for the purchase of 68 operational vehicles, Hilux, in its 2017 capital appropriation.”

    FEC, she said, also approved some VAT exemptions for private properties and reduction of taxes for Small and Medium Enterprises (SMEs).

    Mrs. Adeosun said there was approval for changes in the Companies Income Tax Act (Amendment) Bill and Value Added Tax Act (Amendment) Bill to ensure that those flaring gas pay more for it among other issues.

    On the fiscal goals and objectives of the Tax laws reform, she said “The proposed tax laws reform by the National Tax Policy Implementation Committee (NTPIC) is expected to achieve following specific fiscal objectives: remove obsolete, ambiguous and contradictory provisions in the laws, increase government revenue, simplify the process of paying taxes and doing business, promote Micro, Small and Medium Enterprises, and protect most vulnerable persons in the society.”

    She added that the NTPIC has produced two Executive Orders and five Amendment Bills.

    The two proposed Executive Orders, she said, include Value Added Tax Act (Modification) Order and Review of Goods Liable to Excise Duties and Applicable Rate Order.

    According to her, the five proposed Amendment Bills are: Companies Income Tax Act (Amendment) Bill, Value Added Tax Act (Amendment) Bill, Customs, Excise, Tariff ETC (Consolidation) Act (Amendment) Bill, Personal Income Tax Act (Amendment) Bill, and Industrial Development (Income Tax Relief) Act (Amendment) Bill.

    Other laws proposed for amendments, she said, are Stamp Duties (Amendment) Bill, 2017 and Proposed Amendment of the Associated Gas Re-Injection Act.

    Minister of State for Budget and National Planning Ahmed Zainab said FEC approved new 8,400 beneficiaries to be trained under the Social Investment Programmes (SIP), towards boosting self-employment.

    Shehu, on behalf of the Minister of Power, Works and Housing, Babatunde Fashola and Minister of Education, Adamu Adamu, said FEC approved N499 million for projects monitoring vehicles and N711 million for furnishing of three-storey building of Abuja office of the National Open University of Nigeria (NOUN).

  • FEC approves N1.6bn for anti-smuggling vehicles

    The Federal Executive Council (FEC) on Wednesday approved N1.6 billion for 68 anti-smuggling vehicles.

    This was disclosed by the Minister of Finance, Kemi Adeosun, while briefing State House correspondents at the end of FEC meeting chaired by President Muhammadu Buhari at the Presidential Villa, Abuja.

    She said the memo approved was on behalf of the Nigerian Custom Service anti-smuggling task force.

    According to the minister, FEC also approved Value Added Tax (VAT) exemptions for private properties and reduction of taxes for Small and Medium Enterprises (SMEs).

  • FEC approves 15.4bn for 2 road projects

    The Federal Executive Council (FEC) presided over by President Muhammadu Buhari approved 995million dollars  for the reconstruction of the phase II of Abuja – Keffi – Akwanga – Lafia – Makurdi road.

    The Minister of Power, Works and Housing, Babatunde Fashola, revealed this to State House correspondents at the end of the Council’s meeting held at the Council Chamber of the presidential villa, Abuja, on Wednesday.

    He said the 995 million dollars for the execution of the project would be obtained from the China-Exim Bank as loan.

    “I need to stress that this the section that comprises 16:0 kilometers, which is the Lagos by-pass and the section that also comprises 251.7 kilometers from Ninth Mile through Otukpo to Makurdi.

    “The reason is that it is the Abuja -Keffi road which was awarded in 2015, for which finance is now available.

    “”So, this is the second phase for which the finance is not yet available but the award is the pre-condition to now get the loan from the China-Exim Bank, so that by the time work on the first phase finishes, we can seamlessly continue the second phase all the way to Makurdi,’’ he said.

    The minister also disclosed that another N15.45 billion was approved for the reconstruction of 58.9 kilometer Magama – Kwajani – Ningi road connecting Bauchi and Kano states.(NAN)

  • FEC okays $995 million, N15.45 billion for roads projects 

    …Approves 21 million Euros for tug boats

     

    The Federal Executive Council (FEC) meeting chaired by President Muhammadu Buhari on Wednesday approved $995 million and N15.45 billion for two roads projects in the country.

    Briefing State House correspondents at the end of the meeting, the Minister of Power, Works and Housing, Babatunde Fashola said that N15.45 billion was approved for 58.9 kilometer Magami – Kwajani – Ningi road connecting Bauchi and Kano states.

    He also said that $995 million was approved by FEC for the phase 2 of Abuja – Keffi – Akwanga – Lafia – Makurdi road

    Read Also:FEC approves N61bn for road projects, others

    The Minister of Transportation, Rotimi Amaechi disclosed that 21 million Euros was approved for the purchase of two tug boats for towage purposes in the Nigerian waters.

    He said that approval was also given for dredging of water in Barrow, where vessels are meant to turn, at the cost of N703 million.

    Water Resources Minister, Suleiman Adamu disclosed that the Council approved N719 million for constituency project on the Lower Benue River Basin Development.

    According to him, it involves construction of 80 meter five span bridge in Karo, Nasarawa State, with completion period of two years.

    He said that FEC also approved another constituency project, which is the construction of half dam and irrigation scheme in Kwarangwa in Bauchi State at a cost of N1.36 billion.

    Details Later…

     

  • FEC directs surveillance against Ebola

    THE Federal Executive Council (FEC) yesterday directed the Federal Ministry of Health to step up surveillance against Ebola to keep the disease away from the country.

    Minister of Health Isaac Adewole made this known to State House correspondents at the end of FEC meeting chaired by Vice President Yemi Osinbajo at the Presidential Villa, Abuja.

    He was with Minister of State for Aviation Hadi Sirika, Minister of State for Education Anthony Anwuka, and the  Special Adviser on Media and Publicity Femi Adesina.

    According to Adewole, the council ordered steps to be taken to keep the Ebola outbreak in Democratic Republic of Congo (DRC) from coming to Nigeria.

    He said part of the new measures to be taken is to screen passengers coming into the country.

    He said: “Of course, of great concern to the Federal Executive Council is the outbreak of Ebola in DR Congo. As you might be aware, over the last one month, DRC recorded 19 suspected cases of viral hemorrhagic fever and lost 16 of the cases.

    “But what is also particularly important was that on Monday, blood samples from five patients in the DRC, particularly in a district in DRC, two of the five cases, Ebola was actually confirmed. And, FEC has now directed the Federal Ministry to step up emergency surveillance activities at land and airport borders, so that we can actually keep Nigerians safe.

    “What we will do is to set up an emergency operation centre, which will be chaired by Dr. Babasanya, who actually led our efforts in Liberia and Sierra Leone and Guinea during the outbreak in 2014.

    “Not only that, we will be screening incoming passengers, particularly passengers from DRC and neigbouring countries. We will also ensure we step up all activities in screening people coming in so that we will not be caught unawares.”

    According to him, the Nigerian Centre for Disease Control (NCDC) would also consider sending some team to DRC as part of building capacity for managing  the outbreak.

    “We want to assure Nigerians that the Federal Government is concerned about the outbreak and will do everything possible  to keep the country safe.” he stated

    He also said the ministry presented an update on the state of public health in Nigeria at the FEC meeting.

    According to him, negotiations were on over the strike action in the health sector.

    He said: “Negotiations are still on with Joint Health Sector Union (JOHESU) and the Minister of Labour is leading the negotiation and we expect that we will conclude on all issues very soon.”

  • FEC approves additional N80b for Lagos-Ibadan road

    •Okays N1.67 billion for Lagos –Kano narrow gauge equipment
    •Panel to review East-West road

    The Federal Executive Council (FEC) has approved N143.2 billion contracts for construction of roads and bridges across the country.

    Among these is an additional N80 billion voted for the Lagos -Ibadan expressway. This will take care of the rehabilitation of 84 kilometers section two (Ibadan to Sagamu) of the nation’s busiest expressway.

    The Council last month approved N64.1bilion to be spent on section one (Lagos to Saganmu).

    Minister of Power, Works and Housing Babatunde Fashola stated this at the end of an eight- hour FEC meeting chaired by Vice President Yemi Osinbajo at the Presidential Villa.

    Other minister at the briefing are: Minister of Information Lai Mohammed, Minister of Transportation Rotimi Amaechi, Minister of Environment Jibrin Ibrahim, and Minister of Water Resources Suleiman Adamu.

    Fashola said: “The contract awarded to RCC at the cost of N96 billion before is now revised by N80.199 billion to take the total cost to N176.503 billion. The major component is the change of the type of bitumen, the swamps that have been encountered, the depth of the design for the road, which is 1,100 millimeters, roughly about 43 inches of reconstruction from base.

    “As you might know, the road is being expanded from two to three lanes on both sides. Also we are installing Glover leavers, toll plazas and service lanes. All these to accommodate the changes that have taken place, which were not conceptualised when the road was first built.”

    He said FEC also approved N18.87 billion for the rehabilitation and repair of the Third Mainland Bridge in Lagos.

    He said: “The repair of the Third Mainland Bridge was conceived in 2011 but was not awarded because there were no budgetary provisions.

    “But we have created budgetary provision for it as part of our national bridge maintenance strategy because our bridges haven’t been maintained for decades. This was for N18.87 billion to Borini Promo.

    “Essentially, what they will be doing is pile repairs. Piles are the foundations that hold the bridge. We are starting with the first 33 piles that are in critical conditions, then another set of 19 piles, and then 44 piles. And a general maintenance of 177 piles that form the entire foundation of the bridge. The other work is to replace the expansion joints.” he said.

    According to him, Council also approved N38.03 billion to RCC for the 72 kilometers Ninth Mile to Orukan road in Enugu State.

    He said that FEC also okayed award of remedial interventions in four roads in the country.

    The Minister added: “The roads are parts of Jebba-Mokwa road in favour of CGC for N1.079 billion. Ijebu-Ijesa- Ekiti State border road in favour of Time Building Construction company for N538 million. Emergency repairs of Ijebu-Ijesha  Ekiti State border road section two in favour of Invest Right Ltd in the sum of N562 million. And the rehabilitation of failed sections of Asaba-Ilaibu Edo State border road in favour of Setraco Ltd for N830 million.”

    The four roads are part of the 44 roads whose approvals were received.

    The remaining 40 roads, he said, were being dealt with at the ministerial level because of the amount involved.

    He said that Council also approved a contract for Ile bridge in Osun State at the cost of N2.546 billion.

    Fashola also said that Council approved memo on behalf of Transmission Company of Nigeria for purchase of 50 gas circuit breakers at the cost of N120 million in favour of CG Industrial.

    Minister of Transportation Rotimi Amaechi said that FEC constituted a committee to take inspection trip to the East-West road towards completing the project.