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Nigeria to award N126b road contracts

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Nigeria’s  Federal Executive Council (FEC) Nigeria is to award N126 billion road contracts, this was made known by Minister of Power, Works and Housing, Mr. Babatunde Fashola, when he briefed State House Press Corps at the end federal Executive Council (FEC) meeting.

The FEC meeting was presided by  Acting President Yemi Osinbajo on Wednesday, at the absence of Mohammadu Buhari (President). The FEC approved the award of 12 road contracts  to open up the country for more development.

M.r Babatunde Fashola, said the roads would be in Kano, Bauchi, Adamawa, Borno , Kwara, Gombe, Enugu and Kaduna States, it also includes bridges on Bauchi – Gombe road.

“The headline figures are in the region of about N126 billion. But I think that is not the story, the story really is what the  contracts do to the economy.

“They restore confidence back to the construction industry. “Contractors who have been owed for two or three years before Mr. President was elected are back in various states.

“They recalled back their workers, they are purchasing quarry, gravel, cement, iron rods; the economy is on its way back to a mend. “Every place in all of those states, once we mobilise the contractors the money is kept in those states.

“Most of the workers who drive the trucks, who fix the roads that you see add to the use of the roads. “And so, they aggregate to the total output from each of those states to the national productivity and our national recovery.

“What you then would see is improved journey time which was what we promised you.’’

He said when the road is completed it will give people more access travel more efficiently and thereby increase economy activities. This will impact on every Nigerian positively.

Sen. Udoma Udoma, the Minister of Budget and National Planning, said that FEC had extensive discussion on the economic growth plan. Pointing out  that final consultations are being made before the president would launch it.

According to him the key principles of the plan were to include tackling the constraints to growth and leveraging the power of the private sector, promoting national cohesion and social inclusion.

 

 

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