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FEC approves $328.87m railway consultancy services, N115.4bn Katsina road dualisation

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The Federal Executive Council, on Wednesday, approved N115.4bn for the dualisation of the proposed Kano-Kazaure-Kongolam highway in Katsina State from single carriageway to a dual carriageway.

The meeting was presided over by President Muhammadu Buhari.

The Minister of Works and Housing, Babatunde Fashola, who disclosed this to State House correspondents after the council meeting, explained that the project, which covers 131.4 kilometers, would be completed in 48 months.

He said, “The Ministry of Works and Housing presented a memo for the dualisation of the Kano-Kazaure-Kongolam highway’s 131.4 kilometers from a single carriageway to dual carriageway.

“So, the council approved that proposal at a cost of N115,425, 896,907.15 kobo over 48 months. The instructive thing is that the financing will be done by the Tax Credit Scheme of BUA International Limited. And they will use Messrs PW Construction Nigeria limited, a company in which they have acquired some interest to undertake the construction.”

The Minister of Transportation, Rotimi Amaechi, said his ministry presented two memos involving the contract for sundry consultancy services for the supervision of the various railway projects across the country.

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He said, “Remember that we have about three railway projects that are yet to start construction and they include the Port Harcourt-Maiduguri, Kano-Maradi and then the Abuja-Warri.”

Continuing, the minister said the consultancy services were approved at a total cost of $183.7m for the contractors, including GIX Engineers Infrastructure Excellence/Yaroso & Partnership Limited, Core Consulting Engineering Plc.

“That’s for Abuja to Warri. For the consultancy services for the supervision of Port Harcourt-Maiduguri Railway, with branch lines to Bonny Deep Seaport and Port Harcourt Industrial Park and then to Owerri, We have Kyari Consults SDMBHD/Jamood Global Services Limited at $97.5m. The first one is $38.4m.

“Consultancy services for the supervision of Kano-Katsina-Jibia-Maradi rail-line was approved for Technics Engineering Architecture Marketing Nigeria Limited and that is for $47,670,000. All of them are for a period of 36 months.

“The second one is that the cabinet approved a concessionaire agreement for the Ministry of Transportation to concession the Onitsha River Port to a company called Inversal Elysium Consortium. They are to manage the river port for 30 years.”

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Also speaking was the Minister of State for Environment, Sharon Ikeazor, who explained that the council approved an Energy Transition Plan for the country.

He explained that “This memo was presented as a plan for Nigeria to achieve net zero carbon emission. This will clearly set out the pathway for Nigeria in achieving this.”

Ikeazor added that FEC also approved a second memo to aid the Waste Battery Management Policy for Nigeria.

According to her, the policy “will create a lot of jobs in the circular economy for Nigeria and at the same time protect the health of Nigerians to make sure that hazardous waste like waste batteries are properly disposed of with regulations, including recycling in Nigeria as well.

Ikeazor further explained that her ministry also presented a report on the 2021 United Nations Climate Change Conference which Nigeria attended, and the country’s plans for COP 27 going forward.

On his part, the Minister of State for Health, Olorunimbe Mamora, said the Council approved the award of contract for consultancy services to facilitate the building of the corporate headquarters of National Health Insurance Scheme in Abuja.

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He said “The need has become inevitable to expand what is on ground to improve the operational efficiency of that agency, which is the National Health Insurance Scheme and happily, the Council considered the memo and approved same.”

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Good morning! Here Are Some Major News Headlines In The Newspapers Today: 18 feared killed in fresh Plateau attacks

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1. No fewer than 18 persons are feared dead after gunmen struck on Friday morning in Tilengpan community of Mangu Local Government area of Plateau State. It was reported that 12 individuals were reportedly killed in Mangu villages, with an additional six persons murdered in four Bokkos communities, along with a university student last night.

2. President Bola Tinubu has appointed a new Board for the Securities and Exchange Commission, SEC with immediate effect. According to a statement by the Special Adviser to the President on Media and Publicity, Ajuri Ngelale, the new board members bring a wealth of experience and expertise to the commission, which plays a vital role in developing and regulating Nigeria’s capital market.

 

3. President Bola Tinubu on Friday announced the appointment of a new board for the National Insurance Commission, NAICOM with immediate effect. This was contained in a statement by Special Adviser to the President on Media and Publicity, Ajuri Ngelale.

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4. The Nigerian Customs Service, Kebbi State Area Command, has intercepted goods, including 212 50kg bags of foreign parboiled rice, worth over N126m. The goods according to the Customs Area Comptroller, Iheanacho Ojike, included 10,025 litres of petrol worth over N2m.

 

5. Two people were killed on Friday while one other was injured in an accident around the Idogo junction on Ilaro-Owode Yewa Road, Ogun State. This is just as the Ogun Sector Command of the Federal Road Safety Corps threatened to begin a clampdown on motorists parking indiscriminately on the roads.

 

6. Kogi State Commissioner for Information, Kingsley Fanwo, has said Governor Usman Ododo did not help his predecessor, Yahaya Bello, beat security operatives who wanted to arrest him. Speaking in an interview with Channels TV, Fanwo, who also worked under Bello, said Ododo is committed to upholding the laws of the country, including respecting its legal processes.

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7. The Nigerian Army, on Friday, released Prince Clement Ikolo Ogenerukevwe, the monarch arrested over the killing of 17 military personnel in Okuama, Ughelli South Local Government Area of Delta State.

 

8. The Lagos State government on Friday, demolished illegal houses in Otto Ilogbo extension of Ebute Metta, Lagos, leaving hundreds homeless. It was gathered that four communities were affected by the demolition. They include Ifesowapo, Ifeoluwa, Toluwani and Ilaje Otumara Community Development Association, CDAs, sparking public outrage.

 

9. Road crashes that occurred on Thursday and Friday at Gaya Junction in Kano State and Tashar Yari in Kaduna State claimed the lives of 18 people, authorities have said. The Corps Marshal, Federal Road Safety Corps, Dauda Biu, has now condemned the use of substandard tyres and excessive speeding by drivers on Nigerian roads.

 

10. The Managing Director of First Bank Plc, Dr Adesola Kazeem Adedotun is to proceed on pre-retirement notice. He conveyed his decision to the Chairman of First Bank Hassan Odukale. He said in the letter that he would have retired from the bank in December but decided to proceed on pre-retirement leave effective April 20.

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BREAKING: FG, states, LGs share N1.123tn in March

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The Federation Account Allocation Committee has disbursed a total of N1.123tn to the federal, state, and local governments for March 2024.

 

The allocation, derived from a gross total of N1.867tn, marks a critical distribution of funds aimed at supporting various government tiers.

 

This was revealed in a statement signed by the Director of Information and Public Relations, Ministry of Finance, Mohammed Manga, on Friday.

 

FAAC has the duty of examining and approving the distribution of financial resources to the states and the Federal Government.

Monthly, this committee is tasked with the disbursement of funds across Nigeria’s 36 states and its 774 local government areas.

 

This allocation is anticipated to drive progress and support governmental bodies across various tiers in executing their duties.

 

The FAAC shared N1.152.trn to the three tiers of government for February 2024 from a gross total of N2.326.14trn.

 

Manga stated that the Accountant General of the Federation, Mrs. Oluwatoyin Madein, chaired the meeting and highlighted the importance of the allocation.

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This distribution is pivotal in ensuring that all government levels have the necessary funds to continue their development projects and provide essential services to the citizens,” the statement read.

 

The statement noted that the Federal Government received N345.890bn, states, and local governments received N398.689bn and N288.688bn, respectively, while oil-producing states received N90.224bn as 13 per cent mineral revenue derivation.

 

The FAAC statement also noted an increase in the gross revenue from Value Added Tax for March 2024, amounting to N549.698bn—an N89.210bn rise from the previous month.

 

This increase reflects the country’s economic growth and improved tax compliance.

 

Despite the positive trend in VAT, the Gross Statutory Revenue of N1.017tn for March was lower than February’s N1.192tn by N175.212bn.

 

The decrease has been attributed to reductions in excise duty, oil royalty, petroleum profit tax, customs external tariff levies, and electronic money transfer levy.

 

The balance in the Excess Crude Account as of April 2024 stands at $473,754.57, indicating a reserve for future financial stability.

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The statement noted that the FAAC’s decision to allocate these funds is expected to bolster economic activities across the nation and support the government’s efforts in improving infrastructure, healthcare, education, and other vital sectors.

 

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Tinubu appoints Emomotimi Agama as SEC DG

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President Bola Tinubu has appointed Emomotimi Agama as the director general of the Securities and Exchange Commission (SEC).

 

Ajuri Ngelale, special adviser to the president on media and publicity, disclosed this in a statement on Friday.

 

Details later…

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