The Federal Executive Council (FEC) has approved N3.433 billion for a number of contracts, including the architectural design of a 12-floor corporate headquarters of the Department of Petroleum Resources (DPR) in Abuja.
The Minister of State for Petroleum Resources, Ibe Kachukwu, while briefing State House Correspondents yesterday after the meeting presided over by President Muhammadu Buhari, disclosed that N1.4 billion would go into the designing of the building of the regulatory and supervisory arm of the ministry currently located in Lagos.
He noted that the total projected potential cost for the building when completed is about N35 billion.
Besides, the Minister of Trade and Investment, Okechukwu Enelama said FEC equally sanctioned a contract to engage a programme management office consultant and system provider for the Government Enterprise and Empowerment Programme (GEEP) at a cost of N1.556 billion
Also, the Minister of Information and Culture, Lai Mohammed announced approval for the procurement of cameras, television packs and other broadcast equipment totalling N283.8 million for the Nigerian Television Authority (NTA) as well as 15 vehicles for the News Agency of Nigeria (NAN) valued at N148.7 million.
“There are also ratification of anticipated approval for procurement of 12 units of 10-kilowatt FM transmitters from Canada (N561 million) and three outside broadcast (OB) vans for the Federal Radio Corporation of Nigeria (FRCN) at the cost of N311 million. The total for the two FRCN contracts is N873.52 million,” he added.
More so, the gathering Okayed the establishment of a committee to come up with alternative ways to raise revenue for infrastructure financing.
The panel is composed of ministers, representatives of the infrastructure Construction and Regulatory Commission (ICRC); Nigerian Sovereign Investment Authority (NSIA); Africa Finance Corporation (AFC) and some private sector players with the Minister of Trade and investment serving as chairman.
Other members include Ministers of Finance; Power, Works and Housing; Budget and National Planning; Transportation; Water Resources; and State for Aviation.
The target is to raise between $10 and 20 billon yearly over the next 5-10 years. The funds are to be channelled to the development of infrastructure over the period.
The report is to be submitted within the next one month.