News

October 23, 2024

FEC approves ₦740bn for Berger stretch of Abuja-Kano route

FEC approves N2.17trn 2023 supplementary budget

By Johnbosco Agbakwuru

The Federal Executive Council (FEC) on Wednesday approved ₦740 billion for the Berger stretch of the Abuja-Kano route, as part of several major road projects.

Minister of Works, Senator Dave Umahi, made this known during a briefing with State House correspondents following the cabinet meeting presided over by President Bola Tinubu at the Presidential Villa, Abuja.

Umahi explained that the government is addressing the extensive backlog of infrastructure projects, including critical repairs and new construction. He noted that the Shagamu-Benin road is undergoing essential rehabilitation, with plans for full reconstruction using reinforced concrete pavement.

Regarding the Abuja-Kano road, Senator Umahi stated that the 162-kilometer Berger section, previously considered for a tax credit arrangement, will now be funded directly, with ₦740 billion already approved.

Other projects include the imminent flag-off of the Sokoto section of the Sokoto-Badagry road, the resumption of work on the long-stalled Oyo-Ogbomosho road, and major repairs on the Makurdi-Katsina-Ala road.

The Minister also revealed that FEC addressed an inherited debt profile of ₦1.6 trillion tied to 2,604 projects, with a total contract value of ₦13 trillion. To manage this, the Ministry of Works has adopted a phased project completion strategy based on available funding. Additionally, the council approved advanced payment mechanisms to mitigate the effects of inflation, fluctuating exchange rates, and rising petroleum prices.

Exit mobile version