The Federal Executive Council, (FEC) of Nigeria has approved the reconstruction of two road projects. The road projects are in Plateau and Kwara. Yemi Osinbajo, Acting President has approve the US $ 62.5mn for projects. However, US $ 31.6mn of the approved amount will be spent on the reconstruction of Pankshin-Balank-Yalen-Salak-Gindiri road in Plateau. The remaining US $ 31mn is to be spent on Sharre-Patigi road in Kwara.
The Council’s meeting
Babatunde Fashola, Minister for Power, Works and Housing presented two memos to the council during the meeting. The first memo has approved the construction of the Pankshin-Balank-Yalen-Salak-Gindiri road in Plateau state. The second memo approved the construction of the Sharre-Patigi road in Kwara. Though, the Council approved both memos.
Moreover, concerning the 2003 contract, the Council has approved the bargaining between the federal government and the builder. In Fact, the approval is in terms of supplying three million electricity meters.
Addressing the State House reporters, Babatunde Fashola did say that, both parties did not fully fulfill the contract agreement. The matter went to court. The contract beneficiary part has receive a court ruling after withdrawing the contract.
In addition, the council has not approve the memo to give effect to the negotiation. The negotiation aims at putting together the entire judgment and convert the initial US $ 112.3mn into a loan to the contractor. The loan is to be use to supply meters to the DISCOs.
The Cabinet of Nigeria is the managing branch of the Government of Nigeria. The President appoints the Cabinet members who report to the President.
Extract from constructionreviewonline.com