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FEC approves N15 billion for road linking 2nd Niger bridge, €3.7 million for power
FEC approves N15 billion for road linking 2nd Niger bridge, €3.7 million for power
The Federal executive Council (FEC) has approved N15 billion for the construction of an access road linking the Benin-Asaba expressway to the second Niger bridge.
Minister of Information and Culture, Alhaji Lai Mohammed, disclosed this when he briefed State House correspondents on the outcome of the council’s meeting presided over by President Muhammadu Buhari, on Wednesday, in Abuja.
He expressed the hope that the completion of the road would help achieve the dream of inaugurating the bridge before May 29.
“The Minister of Works presented a memo seeking approval for the award of contract for the construction of an access road from the existing Benin-Asaba expressway to approach the link road to second Niger bridge in Delta.
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”As you are aware, the government is determined to inaugurate the second Niger bridge before the expiration of this administration.
”We can tell you that the bridge itself is substantially concluded, but the contract that was awarded today, although the work has started before now, is actually to connect the Asaba-Benin end to the new bridge.
“The contract was awarded to Julius Berge at a sum of N15billion. They have started the work but they said it is only proper that they have a contract.
”We can assure you that the road will be finished in good time for us to inaugurate the 2nd Niger bridge,” he said.
Mohammed also disclosed that the council has approved N16billion as variation for the dualisation of Suleja-Minna road in Niger.
The Minister of Power, Abubakar Aliyu, who also addressed the correspondents revealed that the council approved 3.7 million Euros as contract variation for the Transition Company of Nigeria.
He said the amount was meant for the procurement of some equipment and to complete the construction of two sub-stations that would help boost electricity supply in the country
Aliyu said: “Today, I presented a memo on behalf of the Transition Company of Nigeria to the Council and it approved the variation.
”This was due to the escalation of prices for the supply of equipment and the construction of 132 33KV substations at Nnewi and 132 KV line bay extension at Onitsha, both in Anambra.
“The approved amount for the variation is 3.7 million Euros plus N1.137 billion inclusive of 7.5 percent Value Added Tax, with a completion period of 18 months.”
The minister disclosed that the contracts started in 2006 but were abandoned due to lack of budgetary provisions.
Minister of State for Budget and National Planning, Clement Agba, also disclosed that the council approved six medium term development plans for Nigeria, which will run from 2021-2050, dealing with various specifics.
He said: ”The broad objectives are to create a stable and predictable macro-economic environment.
”This is by adopting policies that are consistent with raising domestic savings and investments, to establish a solid foundation for a concentric diversified private sector led economy.
”It will as well create a more resilient business environment that creates and support opportunities for Nigerians to realise their potentials, among others.”
Agba said the plans were developed in collaboration with the sub-national governments, the three main political parties, PDP, APC and APGA as well as the organized labour, the youth and women organisations, religious bodies and traditional institutions.
The minister, who fielded questions from the correspondents, said the Federal Government was yet to conclude plans on palliatives that would cushion the effect of fuel subsidy removal on Nigerians.
It will be recalled that under the Federal Government’s 2022 to 2023 Medium-Term Expenditure Framework, a proposal of N3.3trillion was made for fuel subsidy between January and June 2023.
Agba stated that a Committee headed by Vice President Yemi Osinbajo had been working with the National Economic Council ( NEC).
It is a body made up of Governors of the 36 States and the Federal Capital Territory( FCT), working on the palliatives that will help to cushion the effect of the subsidy removal.
According to him, the provisions for subsidy is up to June, 2023, adding that the Ministry of Petroleum Resources and other relevant agencies have also been working on the issue.
He, however, stated that the Minister of State , Petroleum Resources would be in the best position to provide more updates on the issue of the subsidy removal.
Agba said: ”For over a year plus now, the Vice President, Yemi Osinbajo has been leading a Committee working on this and the National Economic Council also has a committee that has also been doing same.
“So, the stage that we are in now is how to finalise the suggestions that have come out from both the Federal Government and the Governors side.
”Like you know, it is something that is going to affect the entire nation. They will just have to ensure that everyone is carried along, that is both the federal and sub-national governments.”
FEC approves N15 billion for road linking 2nd Niger bridge, €3.7 million for power
Students loan application portal opens May 24 – NELFUND
By Funmilayo Adeyemi
The Nigerian Education Loan Fund (NELFUND), has announced May 24 as official date for the opening of portal for student loan applications.
The Managing Director of NELFUND, Mr Akintunde Sawyerr, disclosed this on Thursday in a statement made available to newsmen in Abuja by the Fund’s Media and Public Relations Lead, Nasir Ayitogo.
Sawyerr said the opening of the portal marked a significant milestone in the commitment of President Bola Tinubu to foster accessible and inclusive education for all Nigerian students.
According to him, through the portal, students could now access loans to pursue their academic aspirations without financial constraints.
He added that the portal provides a user-friendly interface for students to submit their loan applications conveniently.
“We encourage all eligible students to take advantage of this opportunity to invest in their future and contribute to the growth and development of our nation,” he said.
Sawyerr urged students to access the portal on www.nelf.gov.ng to begin application.
Students loan application portal opens May 24 – NELFUND
NiMet predicts 3-day sunshine, thunderstorms from Sunday
The Nigerian Meteorological Agency (NiMet) has predicted sunshine and thunderstorms from Sunday to Tuesday across the country.
NiMet`s weather outlook released on Saturday predicted sunny skies on Sunday with patches of cloud over the northern region.
It forecast isolated thunderstorms are expected over parts of Katsina, Borno, Yobe, Adamawa, Kaduna, Kebbi, Jigawa and Taraba States during the morning periods.
According to it, isolated thunderstorms are anticipated over parts of Adamawa, Zamfara, Sokoto, Kebbi, Bauchi, Gombe, Kaduna and Taraba States later in the day.
“Cloudy skies with intervals of sunshine are expected over the North Central region with prospects of thunderstorms over Kwara, Niger, Benue and Kogi States during the morning hours.
“ Widespread thunderstorms are expected over parts of the Federal Capital Territory, Benue, Niger, Nasarawa, Plateau and Kogi States later in the day.
“Cloudy skies with intervals of sunshine are anticipated over the southern states with chances of thunderstorms over parts of Rivers, Akwa Ibom, Bayelsa, Cross River and Delta States during the morning periods, “ it said.
According to him, thunderstorms are anticipated over parts of Ebonyi, Enugu, Imo, Abia, Cross River, Akwa Ibom, Rivers and Delta States later in the day.
NiMet envisages sunny skies on Monday with patches of cloud over the northern region during the morning periods.
“ Later in the day, isolated thunderstorms are anticipated over parts of Kaduna, Adamawa and Taraba States.
“The North Central region should be cloudy with chances of isolated thunderstorms over parts of Kogi, Benue, Niger the Federal Capital Territory and Kwara States during the morning hours.
“In the afternoon/evening hours, isolated thunderstorms are expected over parts of the Federal Capital Territory, Niger, Plateau, Benue and Nasarawa States,“ it said.
According to it, the southern region should be cloudy with thunderstorms over parts of Edo, Ondo, Enugu, Imo, Anambra, Bayelsa, Rivers, Akwa Ibom, Cross River, and Delta States during the morning hours.
It anticipated thunderstorms over parts of Oyo, Ebonyi, Imo, Abia, Ekiti, Edo, Ogun, Ondo, Bayelsa, Rivers, Akwa Ibom, Cross River, and Delta States later in the day.
It predicted sunny atmosphere on Tuesday with patches of cloud over the northern region with prospect of thunderstorms over parts of Taraba during the morning hours.
It predicted isolated thunderstorms over parts of Kano, Katsina, Kaduna, Adamawa and Taraba States as the day progresses.
“ The North Central region should be cloudy with sunshine intervals with prospects of isolated thunderstorm over parts of Niger State during the morning hours.
“Later in the day, isolated thunderstorms are expected over parts of the Federal Capital Territory, Kogi, Kwara and Benue States.
“Cloudy atmosphere with intervals of sunshine is expected over the southern region during the morning hours,“ it said.
The agency predicted thunderstorms over parts of Lagos, Cross River, Akwa Ibom, Rivers, Delta and Bayelsa States later in the day.
NiMet urged the public to take adequate precaution as strong winds might precede the rains in areas where thunderstorms were likely to occur.
The agency also advised Airline operators to get updated weather reports and forecasts from NiMet for effective planning of their operations.
NiMet predicts 3-day sunshine, thunderstorms from Sunday
Fuel scarcity will soon be over, Senate leader assures Nigerians
The Senate Leader, Opeyemi Bamidele, has assured Nigerians that the fuel crisis experienced in the country will soon be a thing of the past.
Bamidele gave this assurance in an interview with newsmen on the sidelines of the Oil Technology Conference (OTC) in Houston, Texas, on Friday.
According to him, the legislature is working tirelessly to ensure that fuel scarcity and frequent queues at filling stations are resolved.
He said that there were plans to involve more private-sector players in the construction of new refineries.
“The Senate is working to ensure that more private-sector players are licensed to own and operate refineries.
“This is to support other smaller ones that are springing up in several parts of the country.
“In addition to licensing new refinery operators, the Federal Government and Senate are working to ensure that the existing refineries are turned around with repairs and replacement of parts carried out where necessary.
Bamidele said the Senate had gotten assurance from the Nigerian National Petroleum Company Ltd., (NNPC Ltd.) that two of its refineries in Warri and Port Harcourt would come on stream before the end of the year.
He also noted that the commitment to licensing new refinery operators and revitalising existing refineries remained vital for increasing domestic oil production.
Opeyemi maintained that the focus was to ensure that Nugeria meets its OPEC production quota.
He explained that achieving such milestones would provide more revenue for the government and halt lack and borrowings.
By enhancing local refinery capacity, the Senator said that the country could reduce its dependence on fuel imports, leading to a potential decrease in petrol prices.
He explained that what drives pricing is the ability to meet demand in the face of every product, finding its level and place in a free market.
Also speaking, the Chairman,
Senate Committee of Downstream, Sen. Ifeanyi Ubah, said the last Turn Around Maintenance (TAM) that happened at the refineries was about 15 years ago, which led to the comatose state of the facility.
Ubah said that the non-deregulation of the downstream sector had put undue pressure on NNPC Ltd., as the entire industry depends on company for its petroleum needs.
He pointed out that no country could meet its energy needs by having a single entity; importing its petroleum product needs.
However, to be self-sufficient, Ubah urged the government to create a cluster of five to eight modular refineries within the riverine communities.
Fuel scarcity will soon be over, Senate leader assures Nigerians
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