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FEC Approves NNPC Ltd’s Move To Invest ₦‎1.9 Trillion In 44 Roads - Politics - Nairaland

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FEC Approves NNPC Ltd’s Move To Invest ₦‎1.9 Trillion In 44 Roads by ManirBK: 7:28am On Jan 19, 2023
The Federal Executive Council (FEC) has approved the recommendation for the Nigerian National Petroleum Corporation Limited (NNPC LTD.) to invest 1.9 trillion in the reconstruction…

The Federal Executive Council (FEC) has approved the recommendation for the Nigerian National Petroleum Corporation Limited (NNPC LTD.) to invest 1.9 trillion in the reconstruction of 44 federal roads under the tax credit policy.

The council gave the approval at its meeting presided over by Vice President Yemi Osinbajo on Wednesday at the Presidential Villa, Abuja.

Osinbajo’s spokesman, Laolu Akande, briefed State House correspondents on behalf of the Minister of Works and Housing.

“The Federal Executive Council approved the recommendation to invest in the reconstruction of selected federal roads under the Federal Government Road Infrastructure Development and Refurbishment Investment Tax Credit Policy phase 2 by the Nigerian National Petroleum Corporation (NNPC) Limited and its subsidiaries.

“So, the council approved the proposal by the Ministry of Works and Housing for the reconstruction of 44 proposed federal roads with a total length of 4,554 kilometres in the total sum of N1.9 trillion.’’

Akande said the council also approved the concession of nine federal roads.

He said that roads were spread across the country.

“In another memo, the Minister for Works and Housing also got the approval of the council for concessionaires for nine road corridors under the pilot phase of the value-added section of the Highways Development and Management Initiative following the issuance of the requisite full business case compliance certificate by the Infrastructure Concession Regulatory Commission for a period of 25 years for each road corridor as follows.

“The roads that will be under this first phase are the Benin-Asaba corridor, Abuja-Lokoja-Onitsha-Owerri-Aba, Shagamu-Benin, Abuja-Keffi-Akwanga-Makurdi, Kano-Maiduguri, Enugu-Port Harcourt, Lagos-Ota-Abeokuta and Lagos-Badagry-Seme.’’

More so, Akande said that the Minister for Works and Housing got the council’s approval for the augmentation of the contract for the rehabilitation of the Oshogbo-Ilesha road phase 1 in Osun State in the sum of N1.2 billion.

“The approval thereby revises the subsisting contract sum from N3 billion to N4 billion representing an increase of 33 per cent of the original sum,’’ he said. (NAN)


https://dailytrust.com/fec-approves-nnpc-ltds-move-to-invest-n1-9trn-in-44-roads/

11 Likes

Re: FEC Approves NNPC Ltd’s Move To Invest ₦‎1.9 Trillion In 44 Roads by ManirBK: 7:28am On Jan 19, 2023
God Bless the Federal Republic of Nigeria

15 Likes 2 Shares

Re: FEC Approves NNPC Ltd’s Move To Invest ₦‎1.9 Trillion In 44 Roads by JASONjnr(m): 7:31am On Jan 19, 2023
Until the projects are completed and not hijacked as usual....Then I will give my accolades to BuBu.....

10 Likes

Re: FEC Approves NNPC Ltd’s Move To Invest ₦‎1.9 Trillion In 44 Roads by adioolayi(m): 8:11am On Jan 19, 2023
Hope no be this NNPCL go finish us for this country

They claimed to have imported enough fuel, subsidized for that matter, the independent marketers are not having access to the said fuel, but private tank farms have the said fuel, selling to independent marketers at high rates... therefore causing fuel scarcity and huge fuel pump prices.

Who exactly are we subsidising

Why not remove the subsidy now...why wait for the next 5months to enrich these thieves the more, afterall , we are already buying at high rates!

8 Likes 1 Share

Re: FEC Approves NNPC Ltd’s Move To Invest ₦‎1.9 Trillion In 44 Roads by bigdammyj: 8:11am On Jan 19, 2023
Noted.
Re: FEC Approves NNPC Ltd’s Move To Invest ₦‎1.9 Trillion In 44 Roads by olaolulazio(m): 8:11am On Jan 19, 2023
Se na cars wey no get fuel go pass the road.

Awon weyrey

5 Likes

Re: FEC Approves NNPC Ltd’s Move To Invest ₦‎1.9 Trillion In 44 Roads by AceRoyal: 8:12am On Jan 19, 2023
Another avenue to steal.

They should make public the roads mapped out for this.

I just hope there will be serious consideration given to the south and not a case where majority of these roads will be in the North.

14 Likes 3 Shares

Re: FEC Approves NNPC Ltd’s Move To Invest ₦‎1.9 Trillion In 44 Roads by Danjibola: 8:12am On Jan 19, 2023
Make dem resolve scarcity finish

1 Like

Re: FEC Approves NNPC Ltd’s Move To Invest ₦‎1.9 Trillion In 44 Roads by salbis(m): 8:12am On Jan 19, 2023
Their game plan is to always come up with huge projects that will eventually end up in their pockets. Nigerians are on a long thing!

1 Like

Re: FEC Approves NNPC Ltd’s Move To Invest ₦‎1.9 Trillion In 44 Roads by 3pointsagree: 8:12am On Jan 19, 2023
Nigeria is blessed

1 Like

Re: FEC Approves NNPC Ltd’s Move To Invest ₦‎1.9 Trillion In 44 Roads by Heroicvic(m): 8:12am On Jan 19, 2023
Like I said earlier

Human capital consists of the knowledge, skills, and health that people accumulate throughout their lives, enabling them to realize their potential as productive members of society. We can end extreme poverty and create more inclusive societies by developing human capital.


This is what federal government should be investing on

4 Likes 1 Share

Re: FEC Approves NNPC Ltd’s Move To Invest ₦‎1.9 Trillion In 44 Roads by sukar886: 8:12am On Jan 19, 2023
I will give bubu heniken when this roads are accomplish

1 Like

Re: FEC Approves NNPC Ltd’s Move To Invest ₦‎1.9 Trillion In 44 Roads by Honourable1901(m): 8:13am On Jan 19, 2023
D
Re: FEC Approves NNPC Ltd’s Move To Invest ₦‎1.9 Trillion In 44 Roads by jojothaiv(m): 8:14am On Jan 19, 2023
That's huge.

I hope one day Badagry express road will get the touch it deserved and for the deplorable state of FG roads in Niger state too.

Infrastructure development have been wonderful but we all imbibe the culture of maintenance too.

2 Likes

Re: FEC Approves NNPC Ltd’s Move To Invest ₦‎1.9 Trillion In 44 Roads by Deejaygold(m): 8:15am On Jan 19, 2023
Another looting

2 Likes

Re: FEC Approves NNPC Ltd’s Move To Invest ₦‎1.9 Trillion In 44 Roads by fastseo: 8:18am On Jan 19, 2023
Well represented. The road should be monitored to ensure quality.

1 Like

Re: FEC Approves NNPC Ltd’s Move To Invest ₦‎1.9 Trillion In 44 Roads by iwaeda: 8:19am On Jan 19, 2023
ManirBK:


https://dailytrust.com/fec-approves-nnpc-ltds-move-to-invest-n1-9trn-in-44-roads/


NNPCL is not paying its counterpart funding to OICs, but get N1.9 trillion to waste on roads already budgeted for by Federal Ministry of Works, State government, Constituency projects, yet those projects will NEVER be completed. grin grin grin grin grin

4 Likes

Re: FEC Approves NNPC Ltd’s Move To Invest ₦‎1.9 Trillion In 44 Roads by backtovillage: 8:19am On Jan 19, 2023
Trust Bubu at your peril.
You will start to hear how cockroaches and antelope prevented them from the construction road in SE

1 Like

Re: FEC Approves NNPC Ltd’s Move To Invest ₦‎1.9 Trillion In 44 Roads by DMerciful(m): 8:21am On Jan 19, 2023
NNPCL is running their own govt? Why is Bubu so clueless!

All federal road construction should be under the ministry of works so that there's one standard criteria for choosing the roads to fix.

5 Likes 1 Share

Re: FEC Approves NNPC Ltd’s Move To Invest ₦‎1.9 Trillion In 44 Roads by leisuretym: 8:22am On Jan 19, 2023
Story

2 Likes

Re: FEC Approves NNPC Ltd’s Move To Invest ₦‎1.9 Trillion In 44 Roads by Ireportlive: 8:22am On Jan 19, 2023
Last minute contracts


Buhari truly wants to give Nigerians a truly credible election

2 Likes

Re: FEC Approves NNPC Ltd’s Move To Invest ₦‎1.9 Trillion In 44 Roads by CodeTemplar: 8:24am On Jan 19, 2023
The red flags are just too much.

Refineries are down yet part of NNPCL's core responsibilities.
The NNPCL has been running at loss and I wonder how they have 1 trillion.
There is a functional ministry of works handling roads.
Who harmonizes road project between NNPCL and ministry of works?
They say we are borrowing to subsidize petrol yet they have hidden trillions for this.

The red flags are just too much but under Buhari, what do I know?

3 Likes

Re: FEC Approves NNPC Ltd’s Move To Invest ₦‎1.9 Trillion In 44 Roads by stano2(m): 8:25am On Jan 19, 2023
Ok
Re: FEC Approves NNPC Ltd’s Move To Invest ₦‎1.9 Trillion In 44 Roads by lonelydora: 8:25am On Jan 19, 2023
Good

I support anything that will benefit the citizens
Re: FEC Approves NNPC Ltd’s Move To Invest ₦‎1.9 Trillion In 44 Roads by bonechamberlain(m): 8:26am On Jan 19, 2023
Criminals. Channel that money to repair our refineries, what kind of country is this. Or better still the money should be channeled to the works ministry budget for 2023. This dullard and his criminal FEC are just approving anything approvable angry.
This guys have finished this country.

1 Like

Re: FEC Approves NNPC Ltd’s Move To Invest ₦‎1.9 Trillion In 44 Roads by Goodlady(f): 8:26am On Jan 19, 2023
Roads that the FG won't do and it ll be a debate btw state govs and fg.
Re: FEC Approves NNPC Ltd’s Move To Invest ₦‎1.9 Trillion In 44 Roads by michlins(m): 8:26am On Jan 19, 2023
Good
Re: FEC Approves NNPC Ltd’s Move To Invest ₦‎1.9 Trillion In 44 Roads by gab4cha: 8:27am On Jan 19, 2023
I fear what this is about...
Re: FEC Approves NNPC Ltd’s Move To Invest ₦‎1.9 Trillion In 44 Roads by bisongue(m): 8:28am On Jan 19, 2023
APC doing everything possible to steal and empty the treasury.
You guys will vomit this money you have stolen no matter how long it takes.

1 Like

Re: FEC Approves NNPC Ltd’s Move To Invest ₦‎1.9 Trillion In 44 Roads by youngrichnigga: 8:28am On Jan 19, 2023
Same roads are probably already included in the 2023 fiscal year budget undecided undecided undecided undecided undecided undecided
How many federal roads are in this country self, don't we have state and local government roads or what are the state and LG allocations for

1 Like

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