Published On: Tue, May 21st, 2019

FEC approves N4bn for infrastructure in FCT

Share This
Tags

By Lawrence Olaoye

The Federal Executive Council (FEC) has approved a total of N4.03 billion for the provision of infrastructural projects across Federal Capital Territory (FCT).
The Council chaired by the Vice President, Yemi Osinbajo, yesterday also okayed the Central Bank of Nigeria (CBN) intervention funds for the electricity Generation Companies (GENCOs) in the country.
The Federal Capital Territory (FCT)’s Minister, Mohammed Bello, who briefed newsmen after the meeting said he presented nine memos to the Council.
He said the first memo was for the award of contract for the rehabilitation of failed walkways within the Wuse District of the Federal Capital City and that contract was awarded at the cost of N1.9 billion with a completion period of twelve months.
The second was for the preparation of the electricity master plan for Phase IV of the Federal Capital City at the cost of N189 million with a completion of ten months. “As you already know, phases I and II have their own master plan,” he said.
Bello noted that council also approved contract for the design of infrastructure for institution and research district which is in phase III of the Federal Capital City at the cost of N197 million.
Other contracts approved for the FCTA are the engineering design of infrastructure for sector G and H in Phase III of the Federal Capital City awarded at the cost of N118.575 million with a completion period of six months.
According to the minister, council also approved for the design of inter-sceptic sewage line for the federal capital city in the total sum of N125 million.
The next one was the contract for the construction of the School of Science at the permanent site of the FCT College of Education Zuba at the cost of N701 million with a co pelt ion period of 42 weeks.
The other contract was the final engineering design of infrastructure and production of tender documents for Dawaki District in the sum of N259 million with a six moth completion period.
Also briefing, the Finance Minister, Zainab Ahmed, told newsmen that the Council approved CBN intervention funds for GENCOs.
The CBN had earlier stepped into the liquidity and funding challenges facing the electricity sector and disbursed a total of N120.2bn to different electricity distribution companies (DISCOs), power generating companies (GENCOs), service providers and gas companies.

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>