Over N120billion Worth of Contracts Approved By The F E C

The Nigerian Federal Executive Council FEC has approved over N120bn worth of contract covering road constructions, software development, purchase of vehicles and other projects scheduled for 2021.

The project cost was approved at the virtual weekly meeting held on Wednesday 2nd of December, 2020. The meeting was presided by the President.

The Minister of Works and Housing, Babatunde Fashola; Minister of Interior, Rauf Aregbesola; and Minister of Water Resources, Suleiman Adamu, briefed State House correspondents at the end of the meeting.

Fashola presented three memoranda, with costs totalling over N117bn all of which was approved by the council.

Two of Fashola’s memoranda were on roads and bridges, while the third was for a banking application software for the Federal Mortgage Bank FMB.

States to benefit in road construction include Kano, Jigawa, Katsina, Anambra, Enugu, Cross River, Benue, Abia, Zamfara, Kebbi states among others.

For the third project, Fashola said

The third memo was for the procurement of a core banking application software for Federal Mortgage Bank in the sum of N487.3m for Messers FINTAX software to enable the bank to provide all the frontline services that other banks now provide across its branches nationwide.

Unlike other banks, the Federal Mortgage Bank is still unable to send automated notices, statements and all of those to national housing fund contributors.

This application will now enable the bank to provide those kinds of services and do a lot of automation and reconciliation loan and credit processing when fully installed.

For the Ministry of Interior, the council approved the sum of N2.1bn for the furnishing of Data and Communication Command and Control Centre of the Nigeria Immigration Center.

Minister of Interior, Rauf Aregbesola said

Council approved the procurement of operational vehicles to enhance efficiency in the service for those who have been recently promoted in the Nigeria Immigration Service, Comptrollers, Assistant Comptroller Generals, Deputy Comptroller Generals as well as patrol vehicles.

The council approved procurement of 44 operational vehicles at total contract sum of N768.07m.

»Share Your Opinion«