VP Osibanjo Presides; FEC okays NNPC’s request to reconstruct 44 roads across Nigeria
The Federal Executive Council (FEC) has permitted the Nigerian National Petroleum Company (NNPC) Limited to invest N1.9 trillion in renovating 44 federal roads.
Vice President Yemi Osinbajo presided over the council meeting where the decision was made, which took place at the Presidential Villa in Abuja.
After the meeting, the Minister of Works and Housing’s spokeswoman, Laolu Akande, talked to State House reporters on behalf of the vice president and revealed this information.
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Mr. Akande noted that the Federal Executive Council (FEC) had approved the Nigerian National Petroleum Corporation (NNPC) Limited and its subsidiaries’ proposal to reconstruct several federal roads.
These are for those under the federal government’s Road Infrastructure Development and Refurbishment Investment Tax Credit Policy phase 2.
“The council has therefore approved the Ministry of Works and Housing’s proposal for the reconstruction of 44 proposed federal roads with a total length of 4,554 kilometers at the cost of N1.9 trillion,” he stated.
He mentioned that nine federal roads located throughout the nation had also been granted concessions by the council.
According to him, the Benin-Asaba corridor, Abuja-Lokoja-Onitsha-Owerri-Aba-Shagamu-to-Benin, Abuja-Keffi-Akwanga-Lafia-Makurdi, Kano-Maiduguri, Enugu-Port Harcourt, Lagos-Ota-Abeokuta, and Lagos-Badagry-Seme are among the routes that will be included.
The first phase of the repair of the Oshogbo-Ilesha road in Ilesha-Oshogbo, Osun state, was approved by the council, Mr. Akande said. The works and housing ministry also received this consent.
According to him, FEC gave the contract to Messers Orizon construction business for N1.2 billion, and the initial contract amount was changed from N3 billion to N4 billion, or an increase of 33%.
