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Tag: FEC

  • FEC approves National Development Plan for 2021-2025

    FEC approves National Development Plan for 2021-2025

    The Federal Executive Council(FEC) has approved the National Development Plan(NDP) for 2021 to 2025 to succeed the Economic Recovery and Growth Plan(ERGP) which expired in Dec. 2020.

    Zainab Ahmed, Minister of Finance, Budget and National Planning disclosed this while briefing State House correspondents after a virtual FEC meeting presided over by Vice President Yemi Osinbajo on Wednesday at the Presidential Villa, Abuja.

    She said the NDP was structured along six clusters–economic growth and development, infrastructure, public administration, human capital development, social development and regional development.

    The minister said that plan had been costed to have an investment size of N348.7 trillion over the five-year period.

    “The Ministry of Finance, Budget and National Planning presented a memo requesting approval for the NDP for 2021 to 2025, which is a plan that is succeeding the ERGP which expired in Dec. 2020.

    “This National Development Plan, NDP, is structured along six clusters. The clusters include economic growth and development, infrastructure, public administration, human capital development, social development and regional development.

    “The plan is underpinned by a macro-economic framework, which projects an average real GDP growth of five per cent per annum over the plan period.

    “ Also, the plan has been costed to have an investment size of N348.7 trillion over the five-year period.’’

    Ahmed said the investment size was to be contributed by the public sector at N49.7trillion, representing 14.3 per cent and the private sector at N298.3 trillion, representing 85.7 per cent.

    According to her, the public sector expenditure component of N49.7trillion will be contributed by both the Federal Government and the states.

    “ The Federal Government expenditure component is N29.6trillion, representing 8.5 per cent of the total expenditure size, while the sub-national government, states, will be contributing N20.1trillion, representing 5.8 per cent.

    “The funding strategies for the plan have also been identified and these include broadening the tax base, enhancing the capacity of the private sector through creating investment opportunities and deliberate policy engagements and incentives.

    “ There will also be exploring domestic and concessioning financing sources and setting up financial investment vehicles such as growth funds and public private partnership as well as the Nigerian Investment and Growth Fund.

    “The implementation of the plan requires the establishment of a strong implementation mechanism and framework that promotes performance and accountability, which is necessary for the implementation of the plan.

    “There will also be a Development Plan Implementation Unit that will report to the National Steering Committee, which will be headed by the vice president with the Minister of Finance, Budget and National Planning as vice chair.’’

    The minister said that the establishment of the Development Plan Implementation Unit would be in the planning arm of the ministry.

    She said the coordination of the implementation of the plan would be carried through to ensure that MDAs, state governments, private sector operators, civil society organizations, among others, are all working in a coordinated fashion.

    According to her, the plan also has a specific concentration to deliver during the five-year period.

    “Immediately we get this plan launched we will be continuing work on the longer term plan, which is the Nigeria Agenda 2050.

    “This is to make sure that we don’t have a vacuum going forward; we have a medium term plans for five years and there is a long term plan which is the Nigeria Agenda 2050.

    “The long-term plan, the Nigeria Agenda 2050, work will continue immediately we launch this medium term plan.

    “ Going forward, the national annual budget will be derived from the plan, the details of which have already been costed.

    “All MDAs will be required to draw their programmes and projects from the detailed plans that they themselves have submitted during this process; the NDP 2021 to 2025 has been approved today by the FEC for implementation as a successor plan to the elapsed EGRP 2017-2020.

    On his part, Ministry of State for Budget and National Planning, Clem Agba, said that the governance structure of the plan would have Mr Atedo Peterside, as co-Chair from the private sector.

    He said the National Steering Committee had 42 members comprising key ministers, representatives of the Manufacturers Association of Nigeria, other organs of the private sector and six governors representing the geo-political zones.

  • Buhari gives go ahead for completion of project started in 1999

    Buhari gives go ahead for completion of project started in 1999

    The Federal Executive Council (FEC), presided over by President Muhammadu Buhari has given go ahead for the completion of a project started in 1999.

    TheNewsGuru.com (TNG) reports the project is the Middle Rima Valley Irrigation located in Sokoto State, which was initiated during the military era.

    Minister of Water Resources, Suleiman Adamu disclosed this on Wednesday in Abuja when he briefed State House correspondents at the end of the Council meeting.

    Adamu disclosed that the Council approved N10.7 million as augmentation for the completion of Middle Rima Valley Irrigation Project in Sokoto State.

    “The Federal Ministry of Water Resources presented a memo to council for the revised total cost of phase II of the construction of middle river valley irrigation project.

    “That is the completion of the middle Rima valley irrigation project in Goronyo, Sokoto State.

    “This contract was started in 1999 by the military administration then, first phase was completed, comprising 873 hectares.

    “The phase II was started in 2007 and that is what we have been struggling to complete. It is also an inherited project.

    “The total scope of the phase II is 404,333 hectares out of which about 80 per cent of the work has been done.

    “So, this memo is seeking a revised cost of the project, with an augmentation of about N10.7 million so that we’ll be able to finish the project, hopefully before the expiration of this administration in 2023,” he said.

    According to Adamu, the project has a potential of generating employment for almost 50,000 people as well as enhancing food production.

    “It’s expected to provide, by the time it’s completely finished, a production of 39,000 tons of rice, 195,000 tons of vegetables per annum and it will generate employment for not less than 47,000 people and their families.

    “So, Council graciously approved this memo with an additional completion period of about 24 months.

    “Like I said, our target is to try to complete this project by 2023. This is in line with what we’ve been doing since the inception of this administration in my ministry; to complete ongoing, inherited and abandoned projects,” he stated.

  • FEC approves last minute road project awarded by Jonathan for construction

    FEC approves last minute road project awarded by Jonathan for construction

    The Federal Executive Council (FEC), presided over by President Muhammadu Buhari, has approved a last minute road project awarded by former President Goodluck Jonathan for construction.

    TheNewsGuru.com (TNG) reports Minister of Works and Housing, Babatunde Fashola made this known when he briefed State House correspondents at the end of the Council meeting on Wednesday in Abuja.

    According to Fashola, the contract was for the 20 kilometer dualization of Yenagoa road junction to Kolo and Otuoke and Bayelsa Palm in Bayelsa State.

    He stated that it was awarded in December 2014 on the eve of the tenure of the last administration and that the project could not take off at the time because of militancy issues and also for very limited budget provisions.

    The Minister revealed that FEC approved N38.4 billion for the project, and for the completion of some other inherited road projects in other four (4) States of the federation.

    According to him, the benefiting States include Benue, Anambra, Imo and Nasarawa, including the Bayelsa project.

    He added that all the affected projects were inherited from previous administrations.

    “They are not new projects, they are projects that we inherited and we are trying to complete. So essentially they relate to cost revision because of the ages of the contracts and the prices of goods that have changed.

    “The first one was the contract for a 13.5km spur of road from Onitsha-Owerri road through Okija-Ihembosi-For Ugbor to Ezinifite in Nnewi South Local Government Area of Anambra.

    “That contract was awarded in 2011 but wasn’t funded until this administration came in so the contractor is asking us to revise the contract by a review of N488, 980, 891 and an additional completion period of six months and the council approved that review of price and the extended completion period,’’ he said.

    The Minister further revealed that the second contract was that of the completion of a 20km road in Bayelsa.

    “The Second one is the 20 kilometer dualization of Yenagoa road junction to Kolo and Otuoke and Bayelsa Palm in Bayelsa State.

    “That contract was awarded in Dec. 2014 on the eve of the tenure of the last administration and it couldn’t even take off because of militancy issues at the time and also very limited budget provisions.

    “It is one of the contracts that we have since activated with the Sukuk Bond.

    “So, the dualization is progressing but there is some additional work that needs to be done.

    “There are also results of further investigations that support a revision of the contract by N7.947 billion and this was approved by the council,’’ he said.

    He said the third contract was for the completion of a road linking Nasarawa and Benue States.

    “The third one is the 74 kilometer Nasarawa to Loko Road – that is the road that was awarded, I believe, in 2006, so it’s 15 years today, 74 km and it has not been completed.

    This road links the Loko-Oweto Bridge, which we inherited and which we have completed and that Loko-Oweto Bridge links Nasarawa to Benue, across the River Benue and also connects to the Oweto to Oshogbedo Road, which we also inherited, which we have completed.

    “The complete lane from Otukpo to Nasarawa ought to be facilitated by this 74km road.

    The contractor has struggled with just about five kilometers of it since 2006, and a small bridge.

    “So, what we’ve proposed was that instead of going through the long process of termination and all of that, we proposed and Council agreed that the contractor who finished the bridge and the contractor who finished the road, because they were all awarded to different contractors before we came, should join this contractor and take up the remainder.

    “So, we’ve limited the contractor who was originally awarded this road to just 10.8, that’s all he will do.

    “So, we’ve awarded 42 kilometers to the contractor who did the Oshogbedo-Oweto Road and we’ve then awarded 21km, which is the part joining the bridge directly, to the contractor who completed the bridge.

    “So, all of these totaling a revised project sum of about N30 billion, shared amongst the three contractors,” he said.

    The minister noted that the completion of the road would also save travel time for its users, especially those travelling from Otukpo in Benue to Abuja.

    “What is instructive is that once we finish this last part of the road, although it is being used now, but is not tarred, commuters are using it because it cuts off three hours from the journey from Otukpo to Abuja.

    “Motorists don’t have to go through Lafia, if you climb the Oweto Bridge across the River Benue, land in Nassarawa, you’ll be landing around Keffi.

    “So, it’s cutting off 103 from that journey from Otukpo to Abuja, which is about three hours. It used to be six hours plus.

    “This is strategic also for providing prosperity, lifting people out of poverty because if the saying that time is money is true, everybody who saves three hours has three hours’ extra productivity and also consumes three hours less fuel and travel time and so on.

    “So, Council approved this memo and we hope that sometime next year we can complete that linkage.

    “But as you know, those of you who went with me, commuters are already using the road in spite of that path not being complete,” he said.

  • FG insists Twitter must have office in Nigeria to have ban lifted

    FG insists Twitter must have office in Nigeria to have ban lifted

    The federal government of Nigeria has said discussions with Twitter to have it’s ban lifted have reached an advanced stage but that the microblogging platform must have its office in the country for the ban to be lifted.

    The Minister of Information and Culture, Alhaji Lai Mohammed made the federal government’s position known while briefing State House correspondents at the end of the Federal Executive Council, (FEC) presided over by Vice President Yemi Osinbajo at the First Lady’s Conference room, Presidential Villa, Abuja on Wednesday.

    Alhaji Mohammed stated that some of the conditions made by the Federal Government for Twitter operations to resume in Nigeria include that Twitter should establish legal presence in the country, register as a Nigerian company with an address.

    It should also have a Country Representative that will serve as a liaison and must register with relevant regulatory agencies including the NCC.

    The government is also demanding that Twitter must commit itself to the Federal Inland Revenue Service, FIRS. The government is also proposing an Ombudsman between Twitter and Nigeria.

    When the Minister was asked to give update on the Twitter ban in Nigeria and the interface with the company, he said: “The end for amicable resolution is very much in sight. We appreciate the patience of Nigerians. I want to assure you that we have made very tremendous progress. We have met with Twitter both physically and in writing. We are actually almost there.

    “The engagement has been extremely positive without any acrimony. We have made it clear what we want from Twitter. They (Twitter) have shown a lot of flexibility, the conversation has not been acrimonious”.

    He, however said that there were about three to four areas the two were yet to reach agreement which include opening of office in Nigeria with staff, adding that Twitter has agreed to open office in the country in 2022.

  • Osinbajo presides as FEC honours late Malami Buwai

    Osinbajo presides as FEC honours late Malami Buwai

    Vice President Yemi Osinbajo on Wednesday presided over a virtual meeting of the Federal Executive Council (FEC) at the Presidential Villa, Abuja.

    President Muhammadu Buhari is in London, UK, for a medical check-up after participating in the Global Education Summit on Financing Global Partnership for Education (GPE) 2021 to 2025.

    Before the proceedings, a minute of silence was observed in honour of Malami Buwai, a former Minister of Agriculture, who passed away recently at the age of 76.

    Ministers physically present at the virtual FEC meeting included Lai Mohammed, Minister of Information and Culture, Abubakar Malami, Minister for Justice and Attorney-General of the Federation.

    Others were, Hajia Zainab Ahmed, Minister of Finance, Budget and National Planning, Minister of Power, Sale Mamman and Babatunde Fashola, Minister of Works and Housing.

    Boss Mustapha, Secretary to the Government of the Federation, Ibrahim Gambari, Chief of Staff to President and Babagana Monguno, National Security Adviser were also in attendance.

    At the last meeting on Aug. 4, FEC approved the sum of 11.17 billion dollars to link all Nigeria’s coastal cities by rail in six years.

  • FEC okays $2.76bn for 20% stake in Dangote Refinery

    FEC okays $2.76bn for 20% stake in Dangote Refinery

    The Federal Executive Council has approved $2.76bn for the acquisition of 20 per cent minority stakes by the Nigeria National Petroleum Corporation (NNPC) in Dangote Petroleum and Petrochemical Refinery.

    Minister of State for Petroleum, Timipre Sylva, disclosed this yesterday after the weekly Federal Executive Council (FEC) meeting chaired by Vice- President Yemi Osinbajo at the Presidential Villa. According to Sylva, FEC also said the meeting approved $1.48 billion for the rehabilitation of Warri and Kaduna refineries.

    According to the minister, the rehabilitation will be carried out by Messers Saipem SPA and Saipem Contracting Limited and will be completed in three phases of 21, 23 and 33 months. Sylva also said 15 per cent of the total sum for the rehabilitation of the two refineries in Port Harcourt awarded earlier this year had been paid to the construction firm awarded the job.

    The former Bayelsa State governor said: “The completion of the rehabilitation of Warri and Kaduna refineries is going to be in three phases. First phase will be completed within 21 months, in 23 months phase two will be completed and in 33 months, the full rehabilitation will be completed.

    “We also discussed in council the need for us to give periodic updates. Soon, we’ll be going to inspect the work on the Port Harcourt refinery, and you will all be with us on that visit.”

  • FEC approves national poverty reduction strategy

    FEC approves national poverty reduction strategy

    The Federal Executive Council (FEC) has approved the National Poverty Reduction with Growth Strategy (NPRGS) put together by the Presidential Economic Advisory Council (PEAC).

    Special Adviser to President Muhammadu Buhari on Media and Publicity, Femi Adesina, disclosed this to State House Correspondents on Wednesday.

    According to Adesina, the Steering Committee on NPRGS would be headed by Vice President Yemi Osinbajo, who will provide overall guidance for implementation.

    He said council also approved implementation of the Strategy and its incorporation into the Medium Term National Development Plan 2021-2025 and the Agenda 2050.

    FEC also directed the Attorney General of the Federation and Minister of Justice, Abubakar Malami, to prepare a bill for submission to National Assembly, to make the implementation of the strategy sustainable.

  • Pantami attends FEC meeting as FG keeps mum on calls for his removal

    Pantami attends FEC meeting as FG keeps mum on calls for his removal

    The Federal Executive Council (FEC) meeting held on Wednesday with the Minister of Communications and Digital Economy, Isa Pantami in attendance, and the Federal Government keeping mum on overwhelming calls for his removal.

    President Muhammadu Buhari presided over the meeting which was held at the State House with Vice President, Professor Yemi Osinbajo; Secretary to the Government of the Federation, Boss Mustapha, and Chief of Staff to the President, Professor Ibrahim Gambari physically in attendance.

    After the meeting, the Minister of Information and Culture, Lai Mohammed was questioned by state house correspondents on the council’s disposition towards increasing calls for Pantami’s removal.

    Lai Mohammed simply replied that the issue was not discussed at the council meeting.

    Pantami has been under fire for his radical preachings and pro-terrorists comments, which he says he has since denounced.

    The calls for Pantami’s removal gained momentum over the weekend as Human rights activists, social media users, and even the opposition party PDP called for the removal of Pantami over statements he made in the past in support of Islamic extremist groups.

    The increasing calls follow the revealing of audio recordings of Mr Pantami’s past teachings where he declared support for Al-Qaeda and Taliban.

    This generated debates on social media platforms with many Nigerians calling for his removal and others defending the Minister who is also an Islamic Cleric.

    In response, Pantami denied any links with the groups. He, however, admitted making the controversial statements supporting the groups but said he has since renounced those radical assertions.

    According to Pantami, the past radical ideas he was championing were due to age, immaturity, and limited knowledge. This excuse however has not calmed the Twitter storm which is threatening to sweep him from office.

  • Osinbajo presides as FEC honours late Mahmud Tukur

    Osinbajo presides as FEC honours late Mahmud Tukur

    Vice President Yemi Osinbajo on Wednesday presided over the weekly Federal Executive Council (FEC) meeting at the Presidential Villa, Abuja.

    President Muhammadu Buhari is in London for a routine medical check-up.

    Before the proceedings, a minute silence was observed in honour of Mahmud Tukur, a former Minister of Commerce and Industry, who passed away recently.

    Ministers who attending the meeting are Alhaji Lai Mohammed; Information and Culture, Hajia Zainab Ahmed, Finance, Budget and National Planning

    Others are Abubakar Malami, Attorney General of the Federation and Minister of Justice and Minister of State for Education, Chukwuemeka Nwajiuba while other ministers joined virtually from their offices.

    Boss Mustapha, Secretary to the Government of the Federation, was represented by the Permanent Secretary, Ecological Funds Office, Mrs Habiba Lawal.

    The National Security Adviser, rtd Maj.-Gen. Babagana Munguno and the Chief of Staff to the President, Ibrahim Gambari, were also present at the meeting.

    At its last meeting on March 31 FEC approved over N19billion for various projects for the Ministries of Transportation, Aviation and the Federal Capital Territory (FCT).

  • Osinbajo presides over FEC in Buhari’s absence, mourns two ex-ministers

    Osinbajo presides over FEC in Buhari’s absence, mourns two ex-ministers

    The Vice President, Professor Yemi Osinbajo on Wednesday presided over the 40th virtual meeting of the Federal Executive Council at the State House in President Muhammadu Buhari’s absence.

    Secretary to the Government of the Federation, Boss Mustapha, and the Chief of Staff to the President, Professor Ibrahim Gambari were physically present at the meeting.

    Eight Federal Ministers including Information and Culture, Lai Mohammed; Finance, Zainab Ahmed; Justice, Abubakar Malami, and Transportation, Rotimi Amaechi were also in attendance physically.

    Others are the Ministers of the Federal Capital Territory, Mohammed Bello; Aviation- Hadi Sirika and Power, Sale Mamman.

    The Head of Civil Service of the Federation, Dr. Folasade Yemi-Esan, and other Ministers participated in the weekly cabinet meeting from their various offices in Abuja.

    Before commencement of the day’s proceedings, the council observed a minute silence for former Ministers.

    Officially announcing the passage of the two former ministers to Council, the Secretary to the Government of the Federation, Boss Mustapha, recalled their various services to the country.

    Senator Olowoporoku, who served as Senator representing Ekiti South Senatorial District at the Senate, was Minister of Science and Technology in the Second Republic. He died on Wednesday, March 24, 2021, at the age of 76 years.

    Also, the late Alhaji Muhammad Baba, was, at separate times, Minister of State for Petroleum Resources and Minister of State for Defence.

    He died on Friday, March 26, 2021, at the age of 81 years.

    The meeting also has in attendance the Chief of Staff to the President, Professor Ibrahim Gambari, and the National Security Adviser, Major-General Babagana Monguno (Rtd).