.Approves $45.3m for Major Transportation Projects
Deji Elumoye in Abuja
The Federal Executive Council (FEC) on Monday approved ₦20 billion for the Nigeria Customs Service (NCS) to procure Compressed Natural Gas (CNG) vehicles, construct forward bases in remote areas, and provide life insurance coverage for officers.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, disclosed this to newsmen while briefing newsmen after the FEC meeting, which was presided over by President Bola Tinubu at the State House, Abuja.
According to him, the package includes a ₦1 billion life insurance policy for NCS officers, aimed at enhancing their welfare and providing financial security for their families.
His words: “Customs, which I have the honour of chairing the board, the Customs came with some N20 billion worth of important projects and procurements, CNG vehicles and some construction and furnishing of facilities, particularly the forward basis in the remote areas.
“Also, about N1 billion worth of financing for life insurance, it’s a Group Life Insurance policy, of course, which is implemented by underwriters and brokers. So we have two transactions for Customs”.
FEC also approved $45,303,000 for a detailed feasibility study and engineering design for a new transportation route alignment for the four Western seaports.
Minister of Transportation, Sa’idu Alkali, while briefing newsmen after the FEC meeting on Monday, explaining that the project would link the Badagry Deep Seaport to Tincan, Tincan to Apapa, Lekki Seaport to Ijebu-Ode and to Kajola to the Lagos-Kano-Maradi railway project.
According to Alkali, the initiative aims to enhance economic growth by linking western ports to the hinterland, thereby increasing GDP and economic activity.
“You are you all aware transportation is one of the key priority areas of President Tinubu’s administration, and it is an enabler of economic growth. So the Federal Executive Council has granted approval for a detailed feasibility studies and engineering design of a proposed route alignment from Badagry Deep Seaport to Tincan, Tincan to Apapa, Lekki Seaport to Ijebu-Ode and to Kajola. It is at Kajola it will connect with the Lagos to Kano to Maradi Railway Modernization project.
“The idea is to link the western port to the hinterland. As it is, we have only Apapa Port that is linked with a red line. We have a standard gauge inter APMT terminal in Apapa, which we are using for freight from Lagos to Ibadan and we have the old narrow gauge that was rehabilitated, we have put it into use for freight from Lagos to Kano.
“So by the time we are able to link all the four seaports at the Western corridor to the hinterland, it will further grow our GDP and enhance our economic activity. The contract was awarded at the cost of $45,303,000”, the Minister said.
