The Federal Executive Council (FEC) has approved three foreign loans in the sum of $945 million to improve irrigation system, prevent flooding in Ibadan, Oyo State and provide water for Bauchi, Ekiti and Rivers States.
The council meeting which was presided over by Vice President Namadi Sambo also approved four road projects totaling N22 billion.
Briefing State House Correspondents after the meeting, the Minister of Water Resources Mrs Sarah Ochekpe who was joined by the Minister of Agriculture and Rural Development, Dr Akinwunmi Adesina and the Minister of State for Finance, Bashir Yiguda, said the International Development Association’s credit of $495 million is for the management of irrigation systems in the country.
She said the idea behind the facility was to upscale what the Federal Government was doing in improving the irrigation system to ensure a year-in-year-out farming season in the country.
The road projects will cover those of Mbaise Ring Road intersecting Owerri-Umuahia Road in Imo State, Calabar-Okoroba Road in Cross River State, and the Phase One of Mbak-Arochukwu Road
The council was briefed on the issues of pensions and the resolve by government to remain conscious of the needs of the average Nigerian worker especially those who have spent their lives working for the good of the country.