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Federal Executive Council Approves Milestone Contracts, Policies 

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2 years ago

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The Federal Executive Council concluded its two-day meeting on Tuesday and major milestone contracts and policy approvals were announced at the meeting.

The contracts and policies approved include:
– All users of Federal airports in Nigeria must now pay tolls at the gates. The President and Vice President of Nigeria will also pay the toll. No citizen is excluded.
– Many initiatives that will revolutionize Nigeria’s Infrastructure and Housing sector through Public-Private-Partnerships would be launched soon. The initiatives which can unlock about N2 trillion will transform Nigeria’s infrastructure and housing mortgage sector.
– Ban on Sand dredging 10 kms from all Federal bridges throughout the country.
– A 4-week deadline for review of visa policy to enable tourists, business people, and creative professionals to visit Nigeria.
– Supply, installation and training of operators of disabled aircraft recovery system at Murtala Muhammed Airport in Lagos. The contract will cost N4.2 billion.
– Special Purpose Vehicle to be created on a PPP basis to develop 90,000 Km of fibre optic cable to increase Nigeria’s internet connectivity by 60-70%.
– A consultancy service for the reconciliation and expansion of the remittances to NITDA.
– Ministry of Communications to convert the property at 324 Jackson Street, San Francisco, USA into a Nigerian Digital Technology Exchange Programme Hub.
– Bus terminals and other transport facilities to be built within 15 months in FCT, Abuja. Project will cost N51 billion and will be executed by Planet Projects Nigeria Ltd.
– Messrs El & Matt Nigeria Limited to upgrade Kwaita-Yebu Road in Kuala Area Council of Abuja for N7.6 billion within 18 months.
– Court of Appeal Abuja Division to be built for N37.2 billion by Messrs Visible Construction Limited.
– N412million to be use for street lights project on Bill Clinton Drive, Airport Expressway. The job includes the procurement of 8 back-up generators, which will be powered by Compressed Natural Gas( CNG) or Solar.
– Nigeria Customs Service to buy 200 Toyota Land Cruiser Buffalo V6 at a cost of N12.5 billion with an insurance cover for the vehicles at a cost of N522 million.
–  A revenue assurance platform to be deployed by Messrs Yuan Resources Ltd in the lottery and gaming sector under PPP arrangement. The concession will be for 15 years, and will be done via DFBOT option, which means Design, Finance, Build, Operate and Transfer.
– Iseyin-Okeho-Iganna road in Oyo State to be reconstructed.
– Construction of Section 2 of the Lagos-Calabar Coastal Superhighway at a cost of N1.6 trillion.
– Reconstruction of Koton-Karfe -Abaji road at a cost of N89 billion.
– BUA cement to finance the Equalisation of Lokoja-Benin Road, Okpela Section, Lokoja-Benin, Dualised Auchi Section -Uromi Link Road and Lokoja-Benin Road, Ekpoma Section at a cost of N120 Billion under the Tax Credit Scheme.
– Various contractors to build roads and bridges in Kaima-Tesse, Kwara State, Benin-Agbor, BeninByepass and Ngaski-Wara in Kebbi State. All the four contracts will cost N546 billion.
– Messrs CCECC to build 37km Kano Bypass within 36 months at the rate of N230 billion.
– Procurement of Sokoto-Illela-Badagry superhighway which is meant to join the Lagos-Calabar Coastal superhighway. The road was first awarded in 1976 and then abandoned.
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