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FEC Approves N79.7 billion For The Completion of Road Projects in Akwa Ibom State

The Federal Executive Council (FEC) presided over by President Muhammadu Buhari, yesterday, approved a total sum of N79.649 billion for completion of the dualisation project on the Odukpani-Itu-Ikot Ekpene Road in Akwa Ibom State.
Teh Council’s approval followed a memo, which sought an award of the contract to Messrs Sematech Nigeria Ltd. The contract is expected to be executed within 16 months.
Babatunde Fashola, Minister of Works and Housing, told newsmen after the meeting that the approval relates to the section from Oku Iboku Power Plant to Abak, running about 26 kilometres.
He said: “This will help complete the dualisation gaps between the one awarded to Julius Berger and the section awarded to CCECC. When this is done, motorists in that area will have an option of the dual carriageway instead of the existing single carriageway.

“And this is in recognition of the heavy cargo that passes through that area from the South-South to the North Central, Benue through Katsina Ala, to the South East, to Abia. It is a very important trade link for the country.”

Minister of Aviation, Hadi Sirika, said Council also approved a memo to award N7,182,973,387 billion worth of contracts in favour of Murtala Mohammed International Airport, Lagos; Nnamdi Azikiwe International Airport, Abuja; Aminu Kano International Airport, Kano; and Katsina Airport in Katsina.

Special Adviser on Media and Publicity, Femi Adesina, who stood in for Sirika, said: “For Lagos, it’s for the expansion of the terminal building at domestic terminal GAT, for the sum of N2,817,579,271.99. For Katsina Airport, its expansion of the Katsina Airport Apron was awarded at N527,353,693.12. There’s also the expansion of Lagos Cargo Apron Area awarded at N1,982,943,242.81; expansion of Abuja Domestic Apron Area at N795,976,947.94; and finally, expansion of Kano Apron Area at N1,059,120,234.37.”

Inaugurating the third board of the NSIA at State House, Abuja, the President reaffirmed his administration’s commitment to implementing long-term projects and programmes that create jobs for Nigerians.
He charged the new board of the Nigeria Sovereign Investment Authority (NSIA) to make more investments that support economic diversification, as global oil prices are projected to drop to around $40 per barrel by 2030.

He noted that the full impact of most of the strategic projects started under his watch would only be felt long after he had left office.

He described the appointment of the nine-man board as a call to duty, action, and performance, saying they were eminently qualified for the job.
The new board members are Farouk Mohammed Gumel (North West) as Non-Executive Chairman; Sir Babatunde Sobamowo (South West), Non-Executive Director; Isiekwena Ikemefuna Louis (South South), Non-Executive Director; Ali Goni Kadugum (North East), Non-Executive Director; Oniyangi Kabir Sulaiman (North Central), Non-Executive Director; and Ike Chioke (South East), Non-Executive Director.

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