– The Federal Executive Council, FEC, has approved N3.433 billion for several contracts in the country.

– A committee of several ministers, government representatives, as well as key persons from the private sector, has been set up to seek avenues to raise the money within a set period of time. 

Ibe Kachukwu, The Minister of State for Petroleum Resources, disclosed this yesterday in Abuja, while speaking with State House Correspondents after a meeting presided over by President Muhammadu Buhari.

This includes the architectural design of a 12-floor corporate headquarters of the Department of Petroleum Resources, DPR, in Abuja.

He also revealed 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.

The Minister also mentioned that the total cost projected for the building would be about N35 billion.


Also, Okechukwu Enelama, the Minister of Trade and Investment, mentioned that the Federal Executive Council has equally sanctioned a projected contract for the programme management office consultant and system provider for the Government Enterprise and Empowerment Programme (GEEP), costing about N1.556 billion.

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Lai Mohammed, the Minister of Information and Culture, as well announced an approval for the procurement of cameras, television packs and other broadcast equipment totalling N283.8 million for the Nigerian Television Authority, NTA, he also projected 15 vehicles for the News Agency of Nigeria (NAN) valued at N148.7 million.


In his words: “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.”


A decision was also made at the meeting to establish a committee that would brainstorm ways to raise the revenue for the infrastructural development.

The panel chairmaned by the Minister of Trade and investment, is composed of ministers, representatives of the infrastructure Construction and Regulatory Commission (ICRC); Nigerian Sovereign Investment Authority (NSIA); Africa Finance Corporation (AFC) as well as other private sector players.


Other members includes the Ministers of Budget and National Planning, Finance; Power, Works and Housing; ; Transportation; Water Resources; and State for Aviation.


The targeted budget of the committee is to come up with around $10 and 20 billon yearly over the next 5-10 years. And the funds are to be channelled to the development of infrastructures within the set peroid.


The committee is charged to submit a report within the next one month.

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