The Federal Executive Council (FEC) has approved the construction of 28 roads and bridges across the country, estimated at around N1.26 trillion. Â
The Minister of Works, David Umahi, made this disclosure in a statement on Monday following the conclusion of the 4th FEC meeting of the year. Â
According to Umahi, the projects were approved following a thorough review by the Bureau of Public Procurement and the acquisition of Certificates of No Objection. Â
- Umahi also mentioned that the FEC approved the construction of the Buruku bridge over the Katsina Ala River in Benue State, costing more than 83.7 billion Naira. Â
- Additionally, a project for constructing a 91.432-kilometer road in Saki, Oyo State, was approved by the FEC, with a budget of 144 billion Naira.Â
- Umahi further explained that, however, the council sanctioned the reduction in the scope of the road construction project from Biu-Kanga-Gaya to the Niger Republic border, with the revised cost estimated at 158 billion Naira.Â
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Earlier, Nairametrics reported that the Federal Executive Council has approved the creation of the Renewed Hope Infrastructure Fund, an initiative with focuses on financing critical projects across the country.Â
- Zacch Adedeji, the Chairman of the Federal Inland Revenue Services, revealed this information following the 4th FEC meeting of the year.Â
- According to the FIRS chief, this effort aims to bridge the infrastructure gap of over $858 billion, which has been an obstacle to national growth. Â
- Adedeji said that the fund aims to resolve the common concerns of legitimate investors about having a semi-governmental structure to ensure the security of their investments.Â
