27/03/2024
The Federal Executive Council(FEC), yesterday, approved N1.267 trillion for the construction of 28 roads and bridges across the country.
— The council also approved the establishment of Renewed Hope Infrastructure Development Fund (RHIDF) to tackle the nation’s $878 billion infrastructure gap.
— H.E Dave Umahi revealed that apart from the 28 projects, FEC agreed that N144 billion be spent on Shaki-Okerete Road in Oyo State and N 83.779 billion on the Buruku BrIdge in Katsina Ala, Benue State.
— A project of N158 billion for Biu- Kanga-Kana-Gaya road to the Niger Republic border was stepped down by the council based on the minister’s request.
— The other projects totalling 1.26 7 trillion, they were all approved by FEC having gone through the BPP(Bureau for Public Procurement) and we got the certification, no objection.
— The Council also approved the Buruku bridge that is going across Katsina Ala River in Benue state, the bridge is a twin bridge that marches the dualised road there, and each of the bridge is about 850 meters. So put the two together are 1.7 kilometres and costs about N83.799 billion.
— There was also an approval by FEC for a road- Shaki and Okerete- in Oyo. The road is 91.432 kilometres, costing N144 billion.”
The FIRS Boss, Zacc Adedeji, who is also President Tinubu’s special adviser on Revenue, explained that the RHIDF would be domiciled in the Presidency
RHIDF is an upgrade of the Presidential Infrastructure Development Fund initiated by the previous administration.
He explained that the National Integrated Infrastructure Masterplan estimated Nigeria’s infrastructure expenditure from 2016 to 2040 at 878 $billion.
— The amount, according to him, averages $35 billion annually.The Federal Executive Council(FEC), yesterday, approved N1.267 trillion for the construction of 28 roads and bridges across the country.
— The council also approved the establishment of Renewed Hope Infrastructure Development Fund (RHIDF) to tackle the nation’s $878 billion infrastructure gap.
— H.E Dave Umahi revealed that apart from the 28 projects, FEC agreed that N144 billion be spent on Shaki-Okerete Road in Oyo State and N 83.779 billion on the Buruku BrIdge in Katsina Ala, Benue State.
— A project of N158 billion for Biu- Kanga-Kana-Gaya road to the Niger Republic border was stepped down by the council based on the minister’s request.
— The other projects totalling 1.26 7 trillion, they were all approved by FEC having gone through the BPP(Bureau for Public Procurement) and we got the certification, no objection.
— The Council also approved the Buruku bridge that is going across Katsina Ala River in Benue state, the bridge is a twin bridge that marches the dualised road there, and each of the bridge is about 850 meters. So put the two together are 1.7 kilometres and costs about N83.799 billion.
— There was also an approval by FEC for a road- Shaki and Okerete- in Oyo. The road is 91.432 kilometres, costing N144 billion.”
The FIRS Boss, Zacc Adedeji, who is also President Tinubu’s special adviser on Revenue, explained that the RHIDF would be domiciled in the Presidency
RHIDF is an upgrade of the Presidential Infrastructure Development Fund initiated by the previous administration.
He explained that the National Integrated Infrastructure Masterplan estimated Nigeria’s infrastructure expenditure from 2016 to 2040 at 878 $billion.
— The amount, according to him, averages $35 billion annually.
