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President buhari collect loan of $1.96 billion to build rail in Niger Republic - Business - Nairaland

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President buhari collect loan of $1.96 billion to build rail in Niger Republic by heniford2: 6:22pm On Sep 24, 2020
THE Federal Executive Council, FEC, on Wednesday approved about $1.96 billion for the award of contract for the development of the proposed Kano-Jigawa-Katsina-Jibia to Maradi rail line in Niger Republic.

The Council also approved the sum of N745.2 million for the procurement of additional eight Field Forensic Auditors for the forensic audit of the Niger Delta Development Commission, NDDC and another N12.088 billion Umuahia/Bende/Ohafia road with a distance of 45 kilometers.

The approval was disclosed by the Ministers of Transportation, Rotimi Amechi, Works and Housing, Babatunde Fashola, Niger Delta Affairs, Senator Godswill Akpabio and Information and Culture, Alhaji Lai Mohammed, while briefing State House correspondents at the end of the FEC virtual meeting presided over by President Muhammadu Buhari at the Council Chamber, Presidential Villa, Abuja.

Briefing on the rail project, the Minister of Transportation, Rotimi Amechi said that his ministry presented two memoranda that were approved by the council.

According to him, “Two memos for the Ministry of Transportation were approved by the council. The first one is the award of contract for the design, manufacture, supply, testing and commissioning of one railway crane of 150 ton capacity for emergency and recovery of rolling stocks.

“This is to sort out say situations of accident on the track. It is for a total cost of N3,049,544,000. That’s the first memo that was approved for the Ministry of Transportation.

“The second one is the award of contract for the development of the proposed Kano-Katsina-Jibia to Maradi rail line in Niger Republic and to Dutse, the capital of Jigawa, for a total cost of $1,959,744,723.71, inclusive of 7.5% VAT.”

It was gathered that the proposed rail line from Kano in Nigeria to Maradi in Niger Republic is to cover a track length of 248 kilometres and will pass through seven senatorial districts in the North.

The rail contract which was initially budgeted in the 2018 Appropriation will connect at least seven cities in Nigeria and one city in Niger Republic and is expected to start from Kano and pass through Dambatta, Kazaure, Daura, Mashi, Katsina, Jibia and terminate in Maradi, Niger Republic.

It will connect about three states of Jigawa, Kano and Katsina and when completed, would assist in the supply of crude oil from Niger Republic to the refinery being built in the border town between both countries.

The border town is close to Katsina State and a mutual agreement for the construction of the refinery was some time ago reached between Nigeria and Niger Republic.

Also, briefing, the Minister of Information and Culture, Alhaji Mohammed, who briefed on behalf of the Minister of Finance, Budget and National Planning, Dr. Zainab Ahmed said that the council approved the procurement of 1,800 units of laptop computers for training schools and computer-based test examinations at three Nigeria Customs training schools.

He said, “On behalf of the Honourable Minister of Finance, Budget and National Planning, I want to report also that she got two of her memos approved. One is for the procurement of 1,800 units of laptop computers for training school and computer-based test examinations at three Nigeria Customs Service training schools in Gwagwalada, Lagos and Kano for a sum of N351,540,000, with a completion period of six weeks.

“The major advantage of this particular contract is that it saves the department a lot of money in hiring consultants for training and other services.

“The Minister also got another approval for N197,843,100 for the expansion of the Nigeria Customs Service’s cash management’s software in compliance with International Public Sector Accounting Standards (IPSAS). This is also going to enhance the efficiency of the Department of Customs.”

Also, briefing on behalf of the Minister of State, Petroleum Resources, Timipre Sylva, Alhaji Mohammed said, “Finally, on behalf of the Minister of State for Petroleum Resources, a memo was presented today asking for approval for the augmentation of the contract for the construction of Petroleum Technology Development Fund corporate headquarters office in Abuja, for the sum of N3,773,784,399.48, therefore raising the initial approval for the contract to about N14 billion.

“However, the important thing about this particular contract is that the building has since been completed, it has since been in use and we inherited this augmentation from 2012, but since governance is a continuum, we are honouring the augmentation, but this headquarters building has been completed, the contractors have been magnanimous while all these arguments about the augmentation was going on, they were magnanimous enough to complete the project and many international conferences have been held in that building.”

The Minister of Works and Housing, Babatunde Fashola said a memorandum for the award of contract for section two of the Ohafia/Arochukwu road at the sum of N12.088 billion.

He said, “The memorandum presented by the Ministry of Works and Housing today is for Section two of the Ohafia to Arochukwu road. This section comprises Umuahia/Bende/Ohafia road in Abia State and it was approved for construction at N12.088 billion comprising a distance of 45 kilometers to complement Section One which was previously awarded in 2018, that is the section from Bende/Arochukwu to Ohafia which was 19.27 kilometers.

“So with this award now, the entire length of the road is now under contract with the same contractor and we hope for expeditious execution.”

The Minister of Niger Delta Affairs, Senator Akpabio said that the memo that was presented by the Ministry of Niger Delta Affairs was a concluding memo on the procurement of Field Forensic Auditors for the forensic audit of the Niger Delta Development Commission.

He said the council approved eight additional forensic field auditors at a total sum of about N745.2 million.

“This brings to the total number of field forensic auditors to 16 in addition to the earlier approved Lead Forensic Auditors, Messrs Olumiluwa Bashir and Co. These people are now going to be charge of the nine states of the Niger Delta which has been divided into 16 lots.

“As I stated earlier, lots one is Ernst and Young for the headquarters. They will be undertaking the 19 years of audit and also bring out the organigram for restructuring of the NDDC for better performance in future.

“Council also considered and approved the need to attach investigative security agencies, the relevant ones to each of the team to ensure transparency and also to be sure that whatever comes out is acceptable to not just in Nigeria but to the international community.”

On his part, the Minister of Interior, Rauf Aregbesola said, “We considered in exco the award of contract for the procurement of 52 number operational Green Maria vehicle to facilitate effective operation in the Correctional Service as well as ease of movement of awaiting trial inmate from the Custodial centres 247 of them in all to about 5022 courts in Nigeria.

“This is to complement what we have already acquired between 2016 and 2019 of about 451 Operational Green Maria vehicles. The objective is to ensure that the delay associated with trial of inmate is reduced if not eliminated.”

Vanguard News Nigeria

https://www.vanguardngr.com/2020/09/fec-approves-1-96bn-rail-contract-from-kano-to-niger-republic/amp/
Re: President buhari collect loan of $1.96 billion to build rail in Niger Republic by heniford2: 6:33pm On Sep 24, 2020
approved by our buhari
Re: President buhari collect loan of $1.96 billion to build rail in Niger Republic by BhoomiMivics: 6:37pm On Sep 24, 2020
Nothing we fit do nah

1 Like 1 Share

Re: President buhari collect loan of $1.96 billion to build rail in Niger Republic by heniford2: 6:44pm On Sep 24, 2020
BhoomiMivics:
Nothing we fit do nah
when we have not build Aba to lagos and kano to onitisha or ph to kaduna
Re: President buhari collect loan of $1.96 billion to build rail in Niger Republic by Siberia01(m): 6:45pm On Sep 24, 2020
cool
watch how people will wail over this....
USA, France, China, India,Canada
are all indebted...
some of them cant even afford basic constructions

but watch how they will criticize Africa

1 Like

Re: President buhari collect loan of $1.96 billion to build rail in Niger Republic by JAMO4REAL1(m): 6:52pm On Sep 24, 2020
like for oduduwa share for Nigeria

1 Like 1 Share

Re: President buhari collect loan of $1.96 billion to build rail in Niger Republic by Goel: 1:02am On Sep 25, 2020
Siberia01:
cool
watch how people will wail over this....
USA, France, China, India,Canada
are all indebted...
some of them cant even afford basic constructions

but watch how they will criticize Africa
Well, it's a good thing to invest in infrastructure if your feasibility study tells you that you can earn more from it in long term. But why you people always bring mindless fairy tale claims along to support your stance?
USA, France, China, India,Canada
are all indebted...
Their public debt forms a large part of their national debt which means governments have to pay to public which isnt an issue for them.

China, India & Japan don't even suffer from net debt position kinda west is facing.

Their debts are closer to their GDP because most population has non FMCG commodities and economic activity is slow. But their debts are much smaller fraction of their total national wealth.

They have many hundreds of billions to trllions size of forex ready which they use to pay in case of any emergency. Hence, can't be indebted.

They also have given away lot of loans which makes their net international account balance smaller.

Seriously, these cherry picked photos don't make any difference to a fact.
some of them cant even afford basic constructions

but watch how they will criticize Africa
Really? Some? Name any single of large countries who can't afford basic construction.

They have largest road networks, add thousands of kilometres to it every year, have many hundreds of billions to trillions of plans to improve infrastructure. All of major countries.

China will be spending $2 trillions to expand its existing good infrastructure, India going to invest $4 trillions in 16 years to make a western standard infrastructure system. Indeed a one billion road neither does matter to them nor is a good explanation to judge Nigeria's financial situation.

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