FEC Approves 3.5 Billion Euro Contract For Transportation Sector

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The Nigerian cabinet on Wednesday approved contract worth 3.5 million Euros for the purchase of a mobile crane for cargo clearance at Lokoja-Jamata River Port complex.

Transportation Minister, Mr Rotimi Amaechi revealed this to State House Correspondents after Wednesday’s meeting of the Federal executive council, presided over by President Muhammadu Buhari.

“The River Port is under construction and nearing completion so we are just buying the equipment for cargo clearance and I got an approval for the procurement and installation of a 64 ton capacity mobile crane that will help in cargo movement from the vessels to the port for a cost of 3.5 million Euros and then a naira component of N1.6 billion,” he said.

He also announced that the Council approved a contract for the hiring of transactional advisers for railway projects across the country at the cost of N280 million.

“We also got an approval for transactional advisers on our railway projects in various parts of the country. These advisers are to counsel us on the financial model and the rest, when we start our negotiation with the companies or contractors and the contract is awarded at the cost of N280 million,” the Transportation Minister explained.

Information Minister, Mr Lai Mohammed informed Journalists on behalf of his Power Works and Housing counterpart, Babatunde fashola, that Council approved the contract for rehabilitation of Ila-Orogun-Oke Ila Ilale-Ekon road, linking Osun and Ekiti States, for the sum of N5.1 billion.

He said it is a 34 kilometre road, that was embarked upon earlier by the Osun State government, but was abandoned due to paucity of funds but the Federal government has now taken over, with a completion period of 15 months.

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