FG Approves 3bn For Construction Of NDIC Office In Bauchi

 

The Federal Executive Council has approved two memorandum each from the ministry of finance, Budget and National Planning and the ministry of Aviation.

The council approved over three billion Naira for the construction of Bauchi Zonal office of the Nigerian Deposit Insurance Corporation (NDIC).

READ ALSO: FG Approves N19.18bn Loan For Nine Local Cotton Processors

Other approvals include the construction of perimeter fence and road at the Port Harcour airport.

The ministry of transport is also got approval to procure Security Scanner for installation at the Lagos Port.

How We Can Solve The Problem Of Gas Flaring – Minister

 

The Federal Executive Council has agreed on new strategies to help in eliminating the problem of gas flaring in the country.

The Minister of Science and Technology, Dr Ogbonnaya Onu, while briefing journalists after the Federal Executive Council meeting presided over by Vice President Yemi Osinbajo on Wednesday at the Presidential Villa, Abuja, said one way to eliminate the problem was to convert the natural gas to methanol.

“One way to help us completely solve this problem of gas flaring is to convert the natural gas into methanol. Methanol is a liquid that finds use in virtually all sectors of the economy.

Read Also: FEC Sets Deadline For Payment Of New Minimum Wage Arrears

“You can use methanol for transportation,” he said.

“It can also be used to replace diesel for all these trucks that we find on our high way because it is cheaper and environmentally friendly so that all the problems that are associated with the use of diesel can be solved by the use of methanol.

“Also, our people in the rural areas can use methanol for cooking so that it would replace kerosene which creates sooth and darkens your pot but methanol does not have that. It is very clean”.

FEC Sets Deadline For Payment Of New Minimum Wage Arrears

 

With the successful completion of negotiations for the new minimum wage and the consequential adjustments, the Federal Executive Council (FEC) has ordered that payments must be completed by the 31st of December, 2019.

The Minister of Labour and Employment, Dr Chris Ngige, made this known when he briefed State House correspondents on the outcome of the Council meeting held at the Presidential Villa, Abuja, on Wednesday.

He stated that a document to this effect is also to be set to the states to guide possible negotiation and implementation.

READ ALSO: FEC Approves Change Of Name For Ministry Of Communications

Ngige said that the Council also approved the payment of all outstanding financial implications of the consequential adjustments as worked out by the National Salaries, Income and Wages Commission, beginning from April 18.

The Federal Executive Council was presided over by Vice President Yemi Osinbajo.

FEC Approves Change Of Name For Ministry Of Communications

 

The Federal Executive Council has approved the change of name for Ministry of Communications.

At the meeting on Wednesday, FEC says the ministry is now to be called Ministry of Communications and Digital Economy.

Vice President Yemi Osinbajo chaired the meeting in the absence of President Muhammadu Buhari who is away on official duty in Russia.

READ ALSO: NASS Tasks MDAs To Provide Targets For 2020 Budget Implementation

FG To Bring Back Toll Gates On Federal Roads

 

The Federal Government is set to bring back toll gates on Nigerian roads years after they were pulled down.

The Minister of Works and Housing, Mr. Babatunde Fashola gave the hint at an interaction with correspondents at the State House after the weekly Federal Executive Council (FEC) meeting in Abuja.

READ ALSO: Buhari, 10 Governors And Ministers Depart Abuja For South Africa

At the FEC meeting which was chaired by President Muhammadu Buhari, the minister argued that there is no reason why the nation cannot toll.

Fashola stated that no law prohibits tolling in Nigeria today even though it was a policy of the government to abolish tolls.

FEC Approves N310bn For Road Projects

(file photo) Minister of Works and Housing, Babatunde Fashola, addresses journalists.

 

The Federal Executive Council has approved the sum of N310 billion for road projects in several parts of the country.

Briefing journalists in Abuja, the Minister of Works and Housing, Babatunde Fashola, said that N79.82bn is for the Ibadan-Ilesa-Ife road, while N200.1bn is earmarked for roads linking the second Niger Bridge to Asaba and Onitsha.

The remaining N29. 6bn according to him, is meant for phase 2 of the Kano-Katsina Highway.

Meanwhile, the Minister for Education (State), Emeka Nwajiuba, disclosed that the Council also approved contracts for his ministry under the Tertiary Education Trust Fund (TETFUND).

According to him, N915 million is for the construction of the Faculty of Environment at the University of Abuja, while N918 million has been budgeted for the construction of the Faculty of Education in the same university.

Why There’s Been A Delay In Delivery Of Road Projects – Fashola

 

The Minister of Works and Housing, Mr Babatunde Fashola, has explained the reason why there has been a delay in delivery of road projects across the country.

Speaking during the Federal Executive Council meeting on Tuesday, he noted that while approval by the council is one challenge, funding is another major challenge.

He further stated that other challenges encountered by the government bother on lack of co-operation by the communities and payment of compensation.

The minister again noted that there’s a pending amount of N10 billion as unpaid compensation for the second Niger bridge amongst several others.

Meanwhile, he denied reports that there are currently about 20,000 abandoned projects across the country.

FG To Increase VAT From 5 To 7.5 Percent

 

The Federal Government has said that consultations will begin at all levels on the review of the Value Added Tax, (VAT) from 5 per cent to 7.5 per cent, just as it is ready to begin deductions to recover bailout funds given to states.

This was disclosed by the Minister of Finance Zainab Ahmed, on Wednesday who spoke with State House correspondents after the maiden Federal Executive Council meeting presided over by President Muhammadu Buhari.

“We will begin consultations and consultations will be at various levels in the country. So it includes consultations with the states, with the local governments, with the parliament as well as with the Nigerian public. For the VAT increase to take effect, there has to be an amendment to the VAT Act,” she said.

READ ALSO: Federal, States, LGs Get N3,84trn FAAC In Six Months – NEITI

Mrs Ahmed who spoke on the bailout funds issued to states by the Central Bank of Nigeria said it wasn’t a grant but that it was meant to be refunded.

“It was not a grant to states by the Federal Government. The Central Bank has a responsibility to ensure that loans given act are paid.

Buhari Presides Over First Post-Inauguration FEC Meeting

 

President Muhammadu Buhari on Monday met with members of the Federal Executive Council in Abuja.

The FEC meeting which is the first since the President inaugurated new ministers on August 21 for his second term, kicked off at the Presidential Villa around 11:00 am.

See photos below.

FEC Approves 0.2 Percent Import Levies

Minister of Finance, Zainab Ahmed

 

The Federal Executive Council, FEC, on Monday approved a new import levy on Cost, Insurance, and Freight (CIF) that will be charged on imports coming into Nigeria.

The Minister of Finance, Zainab Ahmed, disclosed this while briefing State House Correspondents at the end of the weekly FEC meeting presided over by the Vice president, Yemi Osinbajo at the Council Chamber, Presidential Villa, Abuja.

Ahmed said the FEC approved a rate of 0.2 per cent as the new import levy on imports coming into Nigeria from AU countries.

READ ALSO: Nigeria’s GDP Records Slow Growth In 2019 First Quarter

She explained that there were some exceptions on goods originating outside the territory of member countries.

“The council approved a rate of 0.2% as a new import levy on Cost, Insurance, and Freight (CIF) that will be charged on imports coming into Nigeria but with some exceptions.

“The exceptions include goods originating from outside the territory of member countries that are coming into the country for consumption. It also includes goods coming in for aid.”

PHOTOS: Buhari Presides Over FEC Meeting Two Weeks To Inauguration

 

President Muhammadu Buhari on Wednesday presided over the weekly Federal Executive Council (FEC) meeting at the presidential villa in Abuja, the nation’s capital.

Today’s meeting may be the last official gathering of the council as they would be holding a valedictory session next week Wednesday ahead of the presidential inauguration on May 29.

Channels Television observed that all cabinet members were in attendance while the council is expected to brief journalists on the outcome of the deliberations at the end of the meeting.

The FEC meeting held a prolonged session which ran till late in the night last week Wednesday.

See photos below:

FEC Approves Construction Of Seven Model Schools, N1.6bn For Antiretroviral Drugs

 

The Federal Executive Council (FEC) has given approval for the construction of 7 model school in each zone of the country including the FCT.

The Minister of Information and Culture Lai Mohammed disclosed this at a media briefing after the council meeting on Thursday.

The schools which are to be sited in Imo, Katsina, Bauchi, Edo, Lagos, and Nasarawa, will cost about N4.6billion.

READ ALSO: Buhari Is ‘Extremely’ Concerned About Nigerian Workers, Unemployed – Enang

The council which met for over five hours also approved the contract for the supply of first-line Antiretroviral drugs for the National Agency for the Control of Aids (NACA). The contract is in the sum of over N1.6 billion. This includes 2nd line ARV of over N210million.

The drugs are to be supplied to Federal Central Store in Oshodi, medical stores in Abia and Taraba.