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Author Topic: FEC ratifies N485trillion for 30-year infrastructure master plan  (Read 1658 times)

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FEC ratifies N485trillion for 30-year infrastructure master plan
« on: September 04, 2014, 11:22:34 AM »

The Federal Government yesterday ratified a thirty-year National Integrated Infrastructure Master Plan (NIIMP) that would cost N485 trillion. This is as a document which is to serve as blueprint for accelerated integrated infrastructure development in the country from 2014 to 2043 was endorsed at the Federal Executive Council (FEC) meeting on Wednesday.

The draft NIIMP is a blueprint for integrated infrastructure development for the next 30 years based on the country?s economic growth aspirations and in line with the nation?s vision 2020:20.

The Minister of National Planning/Deputy Chairman, National Planning Commission (NPC), Dr. Suleiman Olarewaju Abubakar, who disclosed the ratification to journalists informed that the plan which would cover a period of 30 years was expected to take $3.05 trillion (N485 trillion) to execute.

To make it a sustainable document, the Minister said the NIIMP Bill was being drafted and would be presented to the National Assembly as an Executive Bill so as to provide an enabling legal framework for sustained implementation.

According to him, $166.1 billion would be needed to implement the first phase of the plan which would cover 2014-2018, adding that the plan would among other things address the lack of linkages in the infrastructure sector including energy (power, oil and gas), transport (roads, rail, ports and airports), housing, water, information and communication technology (ICT).

In the same vein, the FEC approved the award of a contract for the design and construction of four marine tug boats at the rate of ?42.9 million to aid operations at the Nigerian Ports Authority( NPA).

The project, when completed, will improve the provision of functional and efficient marine services to its customers in consonance with the port concession policy.

The council equally approved a proposal for the award of a contract for the design, construction, installation, testing and commissioning of 2X60MVA, 132/33KV at Amasiri and 2X132KV Line Bays Extension at Abakaliki for the Transmission Company of Nigeria (TCN).

Speaking with State House correspondents after the meeting presided over by President Goodluck Jonathan, the Minister of Transport, Senator Idris Umar said the contract which would have a lifespan of 24 months was awarded to Messrs Depasa Marine International (Nigeria) Limited for ?42,968,864.70 (equivalent of N8,778,423,042.28), inclusive of all taxes with a completion period of 24 months.

The Minister said there was a budgetary provision of N1.7 billion in the NPA?s approved 2014 budget under the heading of code, design, construction and procurement of four tug boats for Lagos and Port Harcourt while the balance would be provided in the 2015 and 2016 budgets.

Umar noted that the project was expected to generate 97 job opportunities for both professionals and non-professionals during its execution and about 112 direct and indirect job opportunities when in full operation.

Also speaking, the Minister of State for Power, Mohammed Wakil, explained that an award of contract for the Ebonyi/Cross River power transmission line was to boost electricity supply to the two states for increased economic activities. A similar approval was given last week for the boosting of electricity supply to some parts of Anambra State.

In Wakil?s words, ?the Council approved the re-award of the contract in favour of Messrs North China Power Engineering Limited and NCEP (Nig) Limited in the sum of $5,835,368.47 payable at the prevailing exchange rate at the time of payment plus N505,788,083.58 inclusive of N67,211,298.58 for five per cent contingency with a completion period of 24 months.

?The project is designed to boost power supply to Ebonyi State and parts of Cross River and enhance the socio-economic development of the states. The funds are available under the Eurobond loan, 2014 appropriation and in the unutilized letter of credit earlier established for the terminated project to commence implementation of the project,? he said.




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