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FEC approves N65.39bn to execute power projects in Nigeria
Business/Economy

FEC approves N65.39bn to execute power projects in Nigeria 

 

The Federal Executive Council meeting has approved N65.39bn in foreign and local denominations to execute power projects in the country.

 

The Minister of Power, Abubakar Aliyu, disclosed this to State House Correspondents on Thursday at the end of an extraordinary meeting of FEC presided over by Vice President Yemi Osinbajo at the Presidential Villa, Abuja.

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He said the extraordinary session was to ensure the country begins 2022 on a clean slate in the area of electricity supply.

 

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Aliyu who presented 16 memos which were all approved by the council, said the Buhari regime had done more than its predecessors to ensure that Nigerians experience improved electric power supply.

He said “FEC approved$65,606,420, €15,152,651 and N31,360,272,397 respectively for the award of contract for the construction of a 2X60MVA 132/33 KVA substation at Ikare-Akokoand 2×132 KV Lines Bay Extension at Oke-Agbe, Ondo State at the cost of$9,9928,912.80 and N2,037,076,700.00.

“Supply of 65 Hilux vehicles and20 SUVs nationwide at the cost of N2,741,787,500.00. Procurement of 1,500 drums of transformer oil nationwide at N322,500,000.00. Supply of 19 Sergitransformer explosion and fire protection devices nationwide at €5,326,663,70and N347,629,092.57.

 

 

 

 

Source: www.punchng.com

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