The Federal Government on Monday approved N733.89bn for the dualisation of the Oyo-Ogbomoso Road in Oyo State, among other projects.
Minister of Works, Dave Umahi, announced this to State House Correspondents after the 24th Federal Executive Council meeting at the Aso Rock Villa, Abuja.
The dualisation of the Ibadan-Ilorin Road, Section Two, covers Oyo-Ogbomoso in Oyo State and is valued at N147.89bn.
The 147-kilometre stretch will be constructed with reinforced concrete pavement, and the contract was awarded to GRVe.
Other key projects include the dualisation of the Odupani-Itu-Idedem Item-Ikot Ekpene Road in Cross River and Akwa Ibom States, awarded to Decon Construction Nigeria Limited for N55bn.
Additionally, FEC approved funding for the completion of the Abuja-Kaduna-Zaria-Kano Road, specifically Section Two, which covers 164 kilometers. The contract was awarded for N507bn to InfoWest Nigeria Limited, the same company handling Sections One and Three.
The final approval was for the construction of a flyover at Abakpa, near the 82 Division in Enugu, to ease traffic congestion in the area. The project, awarded to CCECC, is valued at N24bn.
So our briefing here should not be taken as if we are bringing projects in an equitable form. A project may go to BPP, and they are processing it, but it is not…like today, we have a total of N507bn, which is for Abuja-Kano section. And of course, in my zone, we have only N24bn. So if tomorrow you bring something big for Southeast, nobody should start saying…So the President is committed to completing all the inherited projects.” He stated.
Umahi further pointed out that many of the projects being executed by the current administration were inherited from the previous government, and their distribution was not initially equitable. However, President Bola Tinubu has continued all inherited projects, ensuring that essential infrastructure across all regions is completed.
Meanwhile, the Federal Executive Council has approved a N1.09bn insurance package to cover critical assets and personnel across all federal airports nationwide.
The Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed this at the briefing after the 24th FEC meeting presided over by President Bola Tinubu at the State House, Abuja.
Keyamo explained that the approval aligns with a directive from the Secretary to the Government of the Federation, which mandates Ministries, Departments, and Agencies to insure critical government assets.
Additionally, the move is essential for Nigeria’s airports to secure International Civil Aviation Organization certification.
“This memo was prompted by Mr. President because we cannot continue to run our airports and critical assets, as precious and expensive as they are, without insurance cover,” he said.
He noted that many airport assets remained uninsured for a long time, putting them at risk. Therefore, the new insurance scheme, he said, will protect both infrastructure and personnel of the Federal Airports Authority of Nigeria.
“This approval ensures that not only are our critical airport assets covered, but also the personnel working in these environments.
“It is in line with global best labor practices to ensure workers in such sectors have insurance protection,” he stated.
The N1.097bn insurance contract, which includes 7.5 per cent VAT, will be executed over a one-year period, beginning once FAAN completes the premium payment.
Keyamo revealed that five leading Nigerian insurance firms were chosen to handle the coverage following a rigorous selection process.
Leadway Assurance Company Ltd. will serve as the lead underwriter, while Cornerstone Insurance Plc, Linkage Assurance Plc, NEM Insurance Company, and Anchor Insurance Plc will act as co-underwriters.
