FEC Approves N610bn for Road Projects and Housing Units

On Wednesday, the Federal Executive Council (FEC) approved contracts and public-private partnership (PPP) concessions exceeding N610 billion for significant road infrastructure projects across Nigeria. Bello Mohammed Goronyo, the Minister of State for Works, announced that the Ado-Ekiti–Iyin–Aramoko–Itawure–Osun State border road was awarded to Messrs CBC Global Civil & Building Construction Nigeria Limited for N159.826 billion, with a completion period of 24 months, including a 7.5% Value Added Tax (VAT).

Additionally, the FEC approved PPP arrangements to attract private financing and expertise for the development, rehabilitation, and maintenance of federal highways, aiming to alleviate the financial burden on public finances. In a separate announcement, Muttaqha Rabe Darma, the Minister of Housing and Urban Development, revealed the approval for the direct purchase of 600 four-bedroom terrace duplexes at Bristol City Development, Life Camp, Abuja, for military personnel, enhancing their welfare and morale.