The Federal Executive Council Wednesday approved N51,003,698,535 for contracts, including variations as well as a project expenditure refund to Yobe State.
The Minister of Information and Culture, Lai Mohammed, said the council approved a revised cost for construction of the Yola-Hong-Mubi Road, put at N29,826,449,000; and the approval for a refund of N18,663,843,109 to Yobe State for works done on federal roads and bridges.
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He said the council also approved the revised estimated total cost of the award of contract for the rehabilitation of the Yola-Hong-Mubi Road in Adamawa State for N29,826,449,000, thereby revising the initial contract from the original N21,841,578,000 to N51,668,027,000.
He said the council also approved the N18,663,843,109 for the Yobe State Government as reimbursement for five federal roads rehabilitated or constructed.
Mohammed said N1,113,406,426 was also approved for the revised estimation of a power project for the Gwarimpa axis of the FCT, adding that it was initially awarded in 2015 at the cost of N527m.
The Minister of Industry, Trade and Investment, Niyi Adebayo, said the council
approved the award of a contract for consultancy services for the pr-development of the Funtua Integrated Textile and Garment Park in Katsina State and for the Medical Tourism Park in Lekki Special Economic Zone in Lagos State for N1.4bn, to Messrs Tata Consulting Engineers in partnership with Messrs Abi Grant Limited”.
Adebayo announced the decision to concession Calabar and Kano free trade zones due to inadequate resources to provide all the necessary infrastructure.