GOVT OKAYS N25B FOR POWER PROJECTS - 2009-06-16 05:00:00
The Federal Government continued its search for a lasting solution to the lingering power crisis in the country.
After a series of deliberation on the issue in Abuja, the Federal Executive Council (FEC) approved contracts worth N25.3 billion for the completion of some power projects to stabilise electricity supply in the country.
This included the ratification of President Umaru Musa Yar'Adua's anticipatory approval of a total of N15.4 billion, to be spent outside this year's budget, to fund new critical transmission projects. The money will be sourced from intervention funds.
The Council also approved N14.5 billion for the upgrade of the 15-year-old College of Petroleum Studies in Kaduna, which is owned by the Nigerian National Petroleum Corporation (NNPC), and endorsed the take-over of the school by the Federal Government.
Minister of State for Information and Communications, Ikra Bilbis, along with the Minister of the Federal Capital Territory (FCT), Adamu Aliero, made this known after the FEC meeting that "in view of the fact that the administration has put emphasis on the need for adequate power supply nationwide, the Council approved various contracts under the energy sector."
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