• 365

    USD/NGN

FEC Approves N59.8bn For New Roads

FEC Approves N59.8bn For New Roads

The Federal Executive Council (FEC) yesterday approved contracts worth N59.8 billion for road construction, rehabilitation of the Economic Community of West African States (ECOWAS) Parliamentary building and the construction of the Mambila Hydro Electricity Dam projects.

Minister of Information, Mr Labaran Maku, who addressed correspondents after the meeting said the contracts were variously under the Ministries of the Federal Capital Territory, Niger Delta Affairs and Power.

The contracts approval were in addition to the approval of a loan of $77 million (about N12 billion) for water projects in Lagos and Cross River states to “facilitate access to water in a number of cities and towns in the states.”

Maku, who was flanked at the briefing by the Ministers of states for the FCT, Niger Delta Affairs and Minister of Communications Technology said some of the contracts approved, yesterday, were the construction of a 23-kilometre Sagbemi-Kiribo-Gada-Egbekigbo in Ondo State at the cost of N3.555 billion with completion period of 24 months, while the augmentation on the contract for the Ibadan-Illorin road is at a cost of N444 million.

Council also gave approval for the complete rehabilitation of the ECOWAS Parliamentary building in Abuja at the cost of N3.3 billion which will cover the roofing, seats, auditorium, elevators, library, electrical and mechanical installations.

Other decisions taken by council were the extension of service lanes from kilometer zero on the Niger bridge at Onitsha to kilometer one at a cost of N2.393 billion, and the signing of a memorandum of understanding with two Chinese companies for the construction of the Mambila and Zungeru hydro electricity dams which would be on the basis of build, operate and transfer with the Federal Government contributing 25 per cent equity share for the Zungeru dam while the Mambila dam would be fully funded by the company. The Mambila dam is expected to generate 3000 megawatt while the Zungeru dam is expected to generate 700 megawatt of electricity.

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