THE Federal Executive Council (FEC) yesterday approved a N45 billion ($300 million) credit from the International Development Association (IDA) to finance electricity transmission and distribution infrastructure for the nation's power sector.

The credit is in addition to the $5.38 billion set aside for expenditure under the National Independent Power Project (NIPP) by the Federal Government, out of which $3.38 billion has been spent.

In the meantime, the House of Representatives Committee on Interior has threatened a zero allocation to the ministry if it fails to make proposals in the 2010 budget for the Nigeria Security and Defence Corps (NSCDC) to buy arms and ammunition.

And following the reported presence of the swine flu in the country, the House of Representatives has urged the Federal Government to immediately set in motion a national preparedness and response plan for Nigeria.

The IDA facility is repayable over 40 years with a 10-year period of grace. It also attracts a service charge of 0.75 per cent yearly on the actual amount drawn from the credit and a commitment charge of 0.5 per cent yearly on undisbursed balance of the credit.