The Federal Executive Council (FEC) has approved the construction of 28 roads and bridges across the country, estimated at around N1.26 trillion.
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.
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.
- 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.
- 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.
- 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.
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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.
- Zacch Adedeji, the Chairman of the Federal Inland Revenue Services, revealed this information following the 4th FEC meeting of the year.
- 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.
- 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.
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