News

December 1, 2010

FG okays N12.5bn for power projects

By Daniel Idonor
THE Federal Government Wednesday approved the sum of N12.5 billion for different power projects across the country as part of its ongoing programme to revamp the power sector.

The focus of the power projects, the Minister of State Information and Communications, Labaran Maku, said was on the engineering, design, manufacture, procurement, supply, construction and commissioning of different transmission equipment.

Addressing State House Correspondents, after the weekly Federal Executive Council, FEC, meeting, Maku listed the power projects to include the 12.4 kilometres Katampe-national stadium 132KV double-circuit transmission line at a cost of N8.248m payable at a prevailing rate of exchange plus N888.5 million, inclusive of a provisional sum of N365.8m, for right of way compensation, five per cent Value Added Tax, VAT, on onshore payments, and 10 per cent contingency, with a completion period of 18 months.

Other projects approved by the council were the engineering, procurement, construction and commissioning of the 90km Onitsha-Oba-Nnewi-Ideato-Okigwe 132KV double-circuit transmission line.