The Federal Executive Council (FEC) has approved N87.4 billion for the construction of Section 1 of the Minna-Zungeru-Tegina-Kontagora highway.
Works and Housing Minister Babatunde Fashola disclosed this while briefing State House correspondents on Wednesday in Abuja at the end of the council meeting, presided over by President Muhammadu Buhari.
Fashola disclosed that the highway project was one of the four memos approved for the ministry by the FEC.
He said the highway project, approved in favour of a joint venture, DeValco HMF Construction, would be funded as previously approved in 2021 under the Tax Credit Scheme.
The second memo was presented to the council on behalf of the Federal Roads Maintenance Agency for the award of a contract for the construction of the Iseri North Road in Lagos that connects Ogun.
He said the contract was approved in favour of Acute Option Limited with a contract value of N2,104,483,739.
He stated that the FEC also approved payments of pension for members of staff of the now-defunct Federal Mortgage Finance Limited.
“’This stood at N4,774,517,205 with an additional N41.96 million,” he added. CONTINUE READING………………………………
Tags: Minna-Kontagora highway
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