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Key Approvals by FEC at its Monday Meeting

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 The Federal Executive Council (FEC) meeting, chaired by President Bola Tinubu in Abuja, approved key decisions to boost Nigeria’s economy and improve citizens’ lives.

In the area of the economy, Mr Wale Edun, Minister of Finance and Coordinating Minister of the Economy, said the Council approved the Economic Stabilisation Bills.

He explained that the bills embodied the recommendations of the Presidential Committee on Tax and Fiscal Policy Reforms set up in 2023 by President Tinubu.

“The bills seek to amend the income tax laws, promote the export of goods and services, reform the exchange rate regime and unlock foreign exchange liquidity.

“One of the bills offers tax relief to companies that generate incremental employment.

Another offers personal income relief to people in private and public employment, from N200,000 to N400,000,” said Edun.

According to him, another of the bills seeks the collaboration of the Federal and State governments to suspend certain taxes on small businesses and vulnerable populations.

He said the Economic Stabilisation Bills, with the Council’s approval, would be transmitted to the National Assembly for passage.

The meeting reviewed the flooding in some parts of the country, especially the one that destroyed almost 50 per cent of Maiduguri, the Borno capital city.

The meeting also backed the President’s idea of setting up a Disaster Relief Fund to be funded by a portion of the revenue accruing to the Federation account. Funds will also be solicited from the private sector.

It was also resolved at the meeting to set up a technical committee to conduct integrity tests on Alau Dam and other dams nationwide.

The council approved a contract to build a 258 km 3-lane carriageway with continuous reinforced concrete pavement in Kebbi and Sokoto states.

The stretch is part of the 1000km superhighway from Illela, Sokoto State, to Badagry, Lagos State.

The council approved the revised estimated contract cost for constructing Bodo-Bonny Road with bridges across the Opobo Channel in Rivers State.

The contract was awarded in 2014 for N120 billion and revised in 2021 to N199, 923,638,963.87. The FEC approved another increase to N280 billion.

Similarly, the council approved the rescoping and downward review of the contract to rehabilitate the Abuja-Kaduna-Zaria-Kano dual carriageway at a lower cost of N740.79 billion to Julius Berger.

Messrs CCECC Nigeria Ltd. was awarded two road contracts, including bridges in Kogi and Cross River, at a total cost of N133.4 billion.

They are the construction of Cross River to Oferekpe Road and the rehabilitation of Kabba (Kogi State), Iyamoye-Omuo-Ikole-Ifaki-Ado Ekiti Road.

Messrs BDT International Ltd. was awarded the contract to repair the Gamboru Bridge along Gamboru-Ngala-Kala, Balde Road in Borno State. The cost is N3.2 billion, and completion will take 24 months.

Messrs CCECC Nigeria will repair the damaged loops and ramps of the Third Mainland Bridge superstructure and rehab Adeniji-Falomo Roads at N42 billion. Completion time is six months.

Mr Dave Umahi, Minister of Works, said the council approved a contract of N158 billion to construct service lanes for the Lekki Deep Sea Port through Epe to Shagamu-Benin Expressway.

He explained that Dangote Industries would be awarded the contract under the Federal Government Road Infrastructure Development Fund and Refurbishment Investment Tax Credit Scheme.

“The council approved the contract for the dualisation of Afikpo-Uturu-Okigwe Road in Ebonyi, Abia and Imo states.

“The road will be financed under the Federal Government Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme.

“Also approved by the councils are contracts for the repair of 14 bridges and roads and flooded sections of the Federal Highways nationwide,” said the minister.

The council approved no fewer than seven memos brought by the FCT Ministry, among which was the contract for the building of Judges Quarters in Katampe.

Also approved was the contract to construct an access road from Ring Road 1 by N16 Shehu Shagari Way to Judges Quarters.

The council approved the contract for building an access road from Arterial Road N11 in Mabushi District to Judges Quarters within Cadstral Zone B07. (NAN)

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FCTA Begins Post-development Audit of  Buildings in FCT 

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The Federal Capital Territory Administration has began a post-development audit of buildings in the FCT.

Chief Felix Obuah, Coordinato of the Abuja Metropolitan Management Council (AMMC),made this known while inaugurating a Ministerial Committee on Post-Development Audit of Buildings in the FCT.

Obuah explained while inaugurating the committee in Abuja on Thursday that the Abuja Master Plan, developed in 1979 provides the roadmap for the orderly development of the nation’s capital city, Abuja.

According to him, the overarching goal is to build one of the most prestigious and modernist cities in the world.

He pointed out that over the years, the FCTA has been able to develop many phases of the city, districts and neighbourhoods.

“We have equally been able to develop critical infrastructures that provide circulatory road systems, metro lines and stations, sewer lines and drainages, among others.

“Today the city can boast of many iconic landmark developments such as the National Mosque, the National Christian Center, the National Assembly Complex, and the Supreme Court Complex.

“Others are the World Trade Centre, Abuja – the tallest building in the city with 22 floors, the CBN Complex, and many other iconic buildings of international repute and reference points for tourists.

“All these attests to the fact that our city has come to stay; our city has developed substantially from Phase 1 through Phase 3 while the other phases are equally being developed.

“Nonetheless, it becomes imperative too, that at this juncture of the city’s development, we take a cursory look at our journey in terms of what we have so far developed, the trend and chart a more robust course for the city’s development,” he said.

He said that it was on these grounds that the FCT Minister Nyesom Wike approved the constitution of the committee to audit the post- development of the city’s buildings.

He said that the committee, which would be chaired by Mr Mukhtar Galadima, Director, Department of Development Control, would be expected to provide accurate records of all development permits issued.

This, he said, would reduce the cases of unapproved development, illegal conversion of land use, and land grabbing.

He added that the committee would also provide data on the consumption of the city’s utilities and services such as water, electricity and connectivity to sewer lines.

This, according to him, will expose illegal connections to the facilities which is denying the government its due revenues.

“The committee will also provide data for accurate taxation and enhanced revenue generation by bringing all buildings and properties to the FCT Internal Revenue Tax Net.

“This will generate billions of Naira for the FCT Administration.

“Another task for the committee is the provision of data on research on city planning, development and management.

“Some of the buildings will be subjected to integrity tests to reduce cases of building collapse and hazards,” he said.

The coordinator said that members of the committee were drawn from all the departments in the FCTA and expected to conclude the tasks in six months.

He assured the committee members of the FCT Minister’s commitment to providing the necessary logistics to ensure the success of the exercise.

Speaking on behalf of the committee members, Galadima noted the need for the FCTA to document all activities, in terms of structures, services, and facilities.

He said that the committee would deliver on its mandate as expected. (NAN)

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Price of 5kg Cooking Gas Stood at N6,699.63 in September- NBS

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The National Bureau of Statistics (NBS) says the average price of 5kg of cooking gas increased from N6,430.02 recorded in August to N6,699.63 in September 2024

This is contained in the Bureau’s “Cooking Gas Price Watch’’ for September 2024 released on Friday in Abuja.

The report said the September price represented a 4.

19 per cent increase, compared to what was obtained in August.

The NBS said the average price of 5kg of cooking gas increased on a year-on-year basis by 59.

90 per cent from N4,189.96 in September 2023 to N6,699.63 in September 2024.

On state profile analysis, the report showed that Rivers recorded the highest average price at N7,285.

71, followed by Gombe at N7,271.88, and Borno at N7,089.72.

It said on the other hand, Kebbi recorded the lowest price at N5,950.00, followed by Kano and Benue at N6,133.33 and N6,143.52, respectively.

Analysis according to the six zones, showed that the North-East recorded the highest average retail price at N6,929.02 for 5kg cooking gas, followed by the South-East at N6,893.47.

“The North-West recorded the lowest average retail price at NN6,382.30,” the NBS said.

Also, the NBS said the average retail price for refilling a 12.5kg cooking gas increased by 4.89 per cent on a month-on-month basis from N15,552.56 in August 2024 to N16,313.43 in September.

The report said the average retail price for 12.5kg cooking gas rose by 76.41 per cent on a year-on-year basis from N9,247.40 recorded in September 2023 to N16,313.43 in September 2024.

State profile analysis showed that Rivers recorded the highest average retail price of N17,992.86 followed by Gombe at N17,942.86 and Zamfara at N17,475.00.

On the other hand, the report showed that the lowest average price for 12.5kg of cooking gas was recorded in Adamawa at N13,983.33, followed by Nassarawa and Bauchi with N14,938.50 and N15,000.00, respectively.

Analysis by zone showed that the South-East recorded the highest average retail price of N16,957.29, followed by the South-West at N16,665.45.

The report said the North-East recorded the lowest price at N15,770.75

Similarly, the NBS said the average retail price per litre of kerosene increased to N1,957.44, in September 2024 on a month-on-month basis, showing an increase of 5.97 per cent, compared to the N1,847.59 recorded in August 2024.

According to its National Kerosene Price Watch for September 2024 on a year-on-year basis, the average retail price per litre of kerosene rose by 50.68 per cent from N1,299.03 in September 2023.

On state profile analysis, the report showed that Abuja recorded the highest average price at N2,816.67 per litre of kerosene in August, followed by Kaduna at N2,437.50 and Akwa Ibom at N2,411.11.

“On the other hand, the lowest price was recorded in Bayelsa at N1,416.67, followed by Borno at N1,477.83 and Ekiti at N1,635.00.”

The NBS said the analysis further showed that the North Central recorded the highest average retail price per litre of Kerosene at N2,194.05, followed by the North-West at N2,092.92.

It said the South -East recorded the lowest average retail price per litre of kerosene at N1,718.89.

The report said the average retail price per gallon of Kerosene paid by consumers in September 2024 was N6,818.1, indicating an increase of 5.84 per cent increase from N6,441.94 recorded in August 2024.

“On a year-on-year basis, the average price per gallon of kerosene increased by 55.69 per cent from N4,379.31 in September 2023.

On state profile analysis, it showed that Katsina recorded the highest average retail price at N8,400 per gallon of kerosene, followed by Jigawa at N8,100.00 and Kebbi and Ogun at N8,000.00.

The report said Nasarawa recorded the lowest price at N5,250.00, followed by Adamawa and Niger at N5,281.25 and N5,291.67, respectively.

Analysis by zone showed that the North-West recorded the highest average price per gallon of Kerosene at N7,809.52, followed by the South-East at N7,700.19.

“North-Central recorded the lowest average price per gallon of Kerosene at N6,092.77,” the NBS said. (NAN)

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FG Revokes Section of Abuja-Kaduna Road Contract Handled by Julius Berger

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The Federal Government has revoked a section of the Abuja-Kaduna highway contract being handled by Julius Berger over irregularities.

The Minister of Works, David Umahi, made this known during the inauguration of the rehabilitation of the Abuja-Kaduna-Zaria-Kano road on Thursday in Abuja.

Umahi said that the road contract was awarded to Julius Berger in 2018 under former President Muhammadu Buhari for N391 billion.

The minister said that the Kaduna-Zaria section has been completed and the Zaria-Kano section is almost completed, however, the Abuja-Kaduna section has witnessed slow completion rate in six years.

“We inherited about 240km in the section I and we extended another two kilometres towards Kogi state to repair the road because it is an eye saw.

“So we have additional 7.5km added to the original 750km, the cost that we gave to Julius Berger for this section is N349 billion or N2.03 billion per kilometer and it is on flexible pavement.

“The section one is 38km or 76 single carriageways when you multiply it by two.”

According to Umahi, the cost is N145 billion or N1.9 billion per kilometer adding that the section one and three are being done under tax credit.

He said that the road project needed to be divided into three sections because Julius Berger was demanding a total of 1.5 trillion for the entire road project to be completed in four years.

“However, we do not want that, president Bola Tinubu does not want that, so we predicted the option of balkanising the road into three, which we have done, and he approved it.

“When we did that by writing, Julius Berger accepted it with the rates but we did not know that they would play games by continuing to play delayed tactics.

“At that time, their own section was 710 billion, both what was done and the new thing to be done,so they started in the first section.”

He said that the Ministry of Finance promised to be paying N20 billion every month to get the job done, but Julius Berger asked for an increase which the ministry obliged from N710 to N740 billion.

Umahi said Julius Berger again wrote to the ministry last week asking for a raise from N740 to N903 billion to complete the project, a condition not favourable  to the government.

“We decided to go for about four billion naira per kilometer for an existing road we are rehabilitating on asphalt, so our position is that we are not increasing this contract for Julius Berger beyond N740 billion.

“This game must be over. I have invited them for a meeting tomorrow. We cannot do what they want. They have been pushing us around. In Bodo Boni, they got what they wanted.

“They have put the project into politics. So they are using it to demarcate our administration and we think enough should be enough,”he said

The Chairman, Senate Committee on Land Transport , Adamu Aliero, commended the President for taking the bold initiative in approving the revocation of the contract and re-awarding it to competent contractors.

Aliero said that the Abuja-Kaduna road has been a thorny issue as far back as 2021, 2022, 2023.

“The governors, the senators, front-line politicians have been complaining on the slow pace of this road. They have been talking about how many people have died because of the deplorable condition of the road.

“Let me say that there is no road in Northern Nigeria  that is as important as this road but Julius Berger kept bringing all kinds of excuses.

“This road is a vital link. It connects the northeast, northwest, southeast, south-south, and southwest, the road is very important, it  is a national asset.”

Aliero therefore, urged the contractors that have won the award to please speed up and complete the road to ease movement of goods and services to every part of Nigeria.

He also appealed to Julius Berger to restore the confidence Nigerians have in them by completing other section of the road contract they are handling that has not been revoked.(NAN)

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