The Federal Capital Territory Administration (FCTA) is seeking the permission of the federal government to commence the concessioning and tolling of the Airport Road in Abuja to raise the sum of N49 billion for the completion of on-going projects in the city.
The Minister of the FCT, Mallam Bala Mohammed made this known during Wednesday’s Federal Executive Council (FEC) meeting where he reeled out the challenges faced by his administration, as part of the performance review of the different ministries.
According to the Minister, the concessioning and tolling is one of the areas through which the administration believes it can raise funds.
He added that the idea is to open up the city, to facilitate good governance.
He cited the Airport Road projects, the inner central ways, development of ten new districts, construction of new corridors into the city, and transportation as massive projects untaken by the FCDA with enormous challenges.
These challenges are posed by population explosion and lack of proper funding, hence the resort to concessioning.
N420 billion Fund
Mallam Mohammed stated that so far, the FCT depends on the private sector in the development of the city and that over $4.6 billion have been accessed from the private sector for such projects.
The FCTA also sought FEC’s permission to float a bond to offset debts totalling N420 billion if it must execute new projects and programmes in the Federal Capital Territory (FCT).
Also in his presentation the Minister of Labour, Mr. Emeka Wogu told the council that his ministry has transformed from negotiations between labour and government to creation of jobs for Nigerians.
Above this the Ministry claimed it maintained industrial harmony in the country including settlement of industrial disputes and increase in wages of workers, as well as training of trade union leaders.
Briefing state house correspondents after the council meeting, the Minister of Information said that in the last year under review the Labour Ministry has set a template to ensure that all contracts awarded by the various ministries are tied to job creation.
