Economy News Extra Latest News

FEC approves N64.108bn for Lagos-Ibadan expressway project

The Federal Executive Council yesterday approved the sum of N64.108 billion for the additional work to be done on Section I of the Lagos to the Sagamu interchange of Lagos-Ibadan expressway project.

This is even as the council also that the council approved new establishment of 10 new rice mills at a cost of N10.7 billion to be sited at Kebbi, Zamfara, Kogi, Bayelsa, Anambra, Benue, Kaduna, Niger, Ogun and Bauchi states.

The Minister of Power, Works and Housing, Babatunde Fashola, provided the figures to the media during his post-meeting interaction with State House correspondents at the Presidential Villa, Abuja.

He explained the additional work would cover pedestrian bridges as well as toll plazas in order to accommodate the changing nature of the road.

The minister said: “The council approved additional work on Section 1 of the Lagos-Ibadan Expressway. The council approved additional work on over 43.6 kilometres for N64.108bn, which cover pedestrian bridges and toll plazas for that section so as to accommodate the changing nature of that road.

“Since its conception, so many new structures: religious institutions, factories, universities and increased human activities, have come up along that road. The inherited design didn’t provide for these at all. The additional work is also to modify the quality of bitumen, polymer modified bitumen, in order to deal with the heavy cargo that passes through that road.

“The first section is handled by Julius Berger. The second section under RCC, which covers over 80 kilometres, will come to council to incorporate similar work, including drainage work when we finish the procurement”, Fashola added.

According to him, the FEC also approved the award of the Subaila-Falala-Bini-Baku-Bauchi Road that connects Kano and Bauchi states at a cost of N4.578 billion.

In a related development, the Minister of State for Agriculture, Heneiken Lokpobiri, confirmed that the council approved new 10 rice mills at a cost of N10.7 billion to be located in Kebbi, Zamfara, Benue, Kogi, Bayelsa, Anambra, Kaduna, Niger, Ogun and Bauchi states.

The minister explained that each of the mills, which will be operated by the private sector, would produce 100 tonnes of rice daily and that the projects, when completed, will add substantial volume to the nation’s rice production capacity.

Lokpobiri said: “Today, FEC approved the establishment of 10 very large rice mills to enhance the milling capacity of the rice value chain in the country.

“Few years ago, it was reported that this country needed a minimum of 100 large mills. As of today, we have about 21, but the Federal Government, in its wisdom, decided that today we should approve the establishment of 10 new rice mills at the total cost of N10.7 billion.

“The states will be 10. Nigeria, over 30 states are growing rice; in today’s memo, the 10 rice mills will be located across the six geopolitical zones in Kebbi, Zamfara, Benue, Kogi, Bayelsa, Anambra, Kaduna, Niger, Ogun and Bauchi states. The capacity of the rice mills is 100 tonnes per day each”, the minister stressed.

He hinted further that the cost of the mills would be paid back within a given timeframe as would be agreed between the Bank of Agriculture and the rice millers.

Spread the love

Leave a Reply

Your email address will not be published. Required fields are marked *