FEC Approves N2.044bn For Nigeria Content Development Board For Roads Network
The Federal Executive Council has approved the sum of N2.044 billion for the provision of internal roads and drainages at the Nigerian Content Development and Monitoring Board gas hub in Bayelsa State, Southern Nigeria.
Minister of State for Petroleum Resources, Timipre Sylva disclosed this while briefing State House Correspondents at the end of this week’s cabinet meeting presided over by President Muhammadu Buhari.
Sylva said the gas hub is meant to encourage the development of countries that will process the Nigerian gas for export as well as promote the use of gas internally.
“Council today approved the contract to contract internal roads and bridges in the Nigerian Content Development and Monitoring Board gas hub located at Polaku in Bayelsa State. The contract sum is N2.044 billion.
“The gas bub is to encourage the development of companies that will process and develop our gas for export and to try to deepen the use of gas internally as well as construct gas cylinders. Already there are companies that are in the gas hub so these drainages and roads and the entire development of that area is to encourage more companies to come into the area in furtherance of our commitment to the decade of gas form 2021-2030 as declared by the President,” he explained.
Also addressing State House Correspondents, Minister in charge of the FCT, Mohammed Bello revealed that, Wasa District in the fringes of the Federal capital Territory (FCT) is now set to be opened up for development, following an approval of N28 billion by the Federal Executive Council for the provision of roads and other infrastructure in the area.
He said: “I presented as memo for the augmentation of the contract sum for the development of the Wasa affordable district in the Southern borders of the Federal capital city Abuja and the augmentation was in the sum of N28, 117, 904, 027.
“The initial contract for that project was awarded in 2014 at the sum of N56 billion but as time went by and due to inflation and some other factors, we had to vary the contract and the price in order to reflect current realities and that is the reason why the augmentation request was presented to council and council approved that.”
The Minister added that the completion period for the contract has also been extended to 42 months.
