Highlights of FEC Meeting

30 Jun Highlights of FEC Meeting

The Federal Executive Council (FEC) approved six contracts totaling about N11.67billion for the Ministry of Power for the procurement of transmission substations and transformers for the Transmission Company of Nigeria (TCN) at yesterday’s meeting presided over by Vice President Yemi Osinbajo.

Minister of Power, Abubakar Aliyu, who briefed State House correspondents after the meeting, attributed the frequent disruption of power supply across the nation to vandalization power infrastructure

* The Council approved reforms in the country’s revenue base with the potential to generate additional N3.8 trillion from non-oil and N160 billion from oil sectors annually. The initiative is meant to address some of the fiscal challenges of the federal government.

* FEC approved the ascension of Nigeria to the Budapest Convention on Cybercrime.

* And also N939 million for the rehabilitation, expansion and upgrading of Gombe regional water supply projects under the Nigerian National Water Resources.