The Federal Executive Council (FEC) yesterday approved $995 million and N15.45 billion for two roads.
Minister of Power, Works and Housing, Babatunde Fashola briefed State House correspondents at the end of the meeting presided over by President Muhammadu Buhari.
With him were Minister of Information and Culture Lai Mohammed, Minister of Transportation Rotimi Amaechi, and Minister of Water Resources Suleiman Adamu.
Also, Finance Minister, Mrs Kemi Adeosun, said FEC gave approval to obtain a French Development Agency (AFD) credit of $60 million for the scaling up of the Second Rural Access and Mobility Project (RAMP II) to include Imo State.
She recalled that the National Assembly had in the 2010 External Borrowing Plan of the Federal Government, approved AFD’s credit facility of $60 million to implement RAMP in Imo State.
Like the firts phase of the project, its development objectives are to improve transport situation and facilitate access to rural population through the rehabilitation and maintainance of key rural transport infrastructure in Imo State.
Fashola said N15.45 billion was approved for 58.9 kilometer Magami – Kwajani – Ningi road connecting Bauchi and Kano states.
He also said $995 million was approved for the second phase of Abuja – Keffi – Akwanga – Lafia – Makurdi road.
He said: “This the section that comprises 16:0 kilometers which is the Lagos by-pass and the section that also comprises 251.7 kilometers from Ninth Mile through Otukpo to Makurdi. A total of 268.5 kilometers for $995 million.
“The reason is that it is the Abuja -Keffi road which was awarded in 2015, for which finance is now available. So, this is the second phase for which the finance is not yet available but the award is the pre-condition to now get the loan from the China-Exim Bank, so that by the time work on the first phase finishes, we can seemlessly continue the second phase all the way to Makurdi.”
The Minister of Transportation, Rotimi Amaechi, said 21 million Euros was approved for the purchase of two tug boats for the protection of Nigerian waters.