FEC approves $995 million, N15.4 billion for 2 road projects
- The federal government has approved the reconstruction of two major road projects
- The projects include the Abuja - Keffi - Akwanga - Lafia - Makurdi road and the Magama - Kwajani - Ningi road connecting Bauchi and Kano states
- According to the minister of power, works and housing, funding for the execution of the project would be obtained from the China-Exim Bank as loan
The Federal Executive Council (FEC) presided over by President Muhammadu Buhari approved 995 million dollars for the reconstruction of the phase II of Abuja - Keffi - Akwanga - Lafia - Makurdi road.
The minister of power, works and housing, Babatunde Fashola, revealed this to State House correspondents at the end of the Council’s meeting held at the Council Chamber of the Presidential Villa, Abuja, on Wednesday, May 16.
He said the 995 million dollars for the execution of the project would be obtained from the China-Exim Bank as loan.
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“I need to stress that this the section that comprises 16:0 kilometers, which is the Lagos by-pass and the section that also comprises 251.7 kilometers from Ninth Mile through Otukpo to Makurdi. The reason is that it is the Abuja -Keffi road which was awarded in 2015, for which finance is now available.
“So, this is the second phase for which the finance is not yet available but the award is the pre-condition to now get the loan from the China-Exim Bank, so that by the time work on the first phase finishes, we can seamlessly continue the second phase all the way to Makurdi," he said.
The minister also disclosed that another N15.45 billion was approved for the reconstruction of 58.9 kilometer Magama - Kwajani - Ningi road connecting Bauchi and Kano states.
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Legit.ng earlier reported that the federal government on Monday, May 14, flagged off the rehabilitation of the Lagos-Ota-Abeokuta Road.
The flag-off process was inaugurated by the federal ministry of power, works and housing.
The officials of the ministry also led an inspection tour of the road from the Ile Zik bus stop in Lagos to Ota in Ogun state and back to Ile Zik again, for the official flag off.
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Source: Legit.ng
