FEC approves N3.4B for Lekki Export Processing Zone,okays N29.2 billion roads in Abia, Borno, others

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By Abdullahi Mohammed, Abuja


The Federal Executive Council (FEC) Wednesday approved N3.4 billion for the Nigeria Export Processing Zone in Lagos.Minister of Industry, Trade and Investment, Mr Niyi Adebayo said this while briefing State House correspondents at the end of the weekly FEC meeting presided over by President Muhammadu Buhari.He said the approval covers the development of five megawatt power plant and an access road from the Lekki-Epe expressway to textile and garment park in the same area.

“Council today approved contract for infrastructure in one of the six special economic zones that the Nigeria Exports Processing Zone Authority is creating.  It is of the special economic zone in Lekki and as part of that special economic zone is a textile and garment park that is being put up.

“The council approved contract for the development of an initial five megawatt power plant and electrical reticulation within the park in the sum of N1.5 billion inclusive of 7.5 percent VAT with a delivery period of 52 weeks.“Council also approved the construction of an access road with associated drainage works from the Lekkii-Epe expressway to the textile and garment park in the sum of N1.9 billion inclusive of 7.5 percent VAT with a delivery period also of 52 weeks,” he said.The minister said the objective was to establish zones with multifunction of industry, commerce, trade, medical tourism, recreation and residence, among others, to attract foreign investment for the country.

 

okays N29.2 billion roads in Abia, Borno, others

In another development, the Federal Executive Council (FEC) has also approved N29.2 billion for the completion and rehabilitation of road projects in some parts of the country.Minister of Works and Housing, Mr Babatunde Fashola disclosed this while briefing State House correspondents at the end of the weekly FEC meeting presided over by President Muhammadu Buhari.He said the first contract was an augmentation for Zaria-Funtua road linking Kaduna and Katsina states.

“Three memoranda were presented by the Ministry to the Federal Executive Council. The first one was for the augmentation of the contract of the Zaria to Funtua section of the Zaria-Sokoto-Birnin-Kebbi highway. The augmentation was for N9.446 billion, which will result in an increase of the contract price to a total of N16.924 billion.

“The augmentation caters for an extension of the scope of works on that section, from 26 kilometers to a total of 64 kilometers. It also caters for the improvement of the pavement from a laterite-based pavement to a cement-based, concrete-mixed, stone-base pavement.“It also makes provision for extensive drainage works to accommodate increasing rain flow and flooding patterns that we have observed in the last few years. Council approved that memorandum,” he said.He said the second approval was for projects to be executed by Federal Roads Maintenance Agency (FERMA).“The second memorandum was presented by the Ministry on behalf of one of her parastatals, the Federal Roads Maintenance Agency (FERMA), who have statutory responsibility for maintenance and rehabilitation of certain roads and in this regard, FERMA requested and Council approved contracts award to rehabilitate Kwayakusar-Milda Road in Borno. Value of the award is N6, 271,985,441.20,” he explained.

He also said over N13 billion was approved for the rehabilitation of a road in Abia State.“The third one, which Council approved today, was the rehabilitation of the Uturu-Isikwato-Akara Road in Abia State, N13.624 billion, which was approved by Council to 18th Engineering Company for 24 months. Thank you very much. Council also approved,” he said.