• About
  • Advertise
  • Contact
Friday, May 9, 2025
  • Login
Vital News
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
Vital News
No Result
View All Result
Home Oil & Gas

FEC Okays NNPC To Invest N1.9trn In 44 Federal Roads

Vital News by Vital News
January 19, 2023
in Oil & Gas
0
Share on FacebookShare on Twitter

By Chijioke Okoronkwo

The Federal Executive Council (FEC) has approved the recommendation for the Nigerian National Petroleum Corporation Limited (NNPC LTD.) to invest N1.9 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.

RelatedStories

TMV Applauds President Tinubu As FG’s CNG Initiative Attracts N760bln Private Investments In One Year

FG Directs NNPCL To Resume Sale Of Crude Oil In Naira To Dangote, Other Local Refineries

NNPCL Unveils New Senior Management Team

Tinubu, Dangote Refinery And Mele Kyari’s Sack

“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 kilometers 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 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 augmentation of contract for 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/vitalnewsngr.com)

Tags: FECNNPCreconstructroads
Previous Post

Cross River Sacks 12 Principals, Suspends 6 Others Over Illegal Collection Of Money

Next Post

Ogoni Remediation : FEC Approves N1.4bln For Project Vehicles

Vital News

Vital News

RelatedStories

TMV Applauds President Tinubu As FG’s CNG Initiative Attracts N760bln Private Investments In One Year
Oil & Gas

TMV Applauds President Tinubu As FG’s CNG Initiative Attracts N760bln Private Investments In One Year

April 19, 2025
NNPCL Unveils New Senior Management Team
Oil & Gas

FG Directs NNPCL To Resume Sale Of Crude Oil In Naira To Dangote, Other Local Refineries

April 9, 2025
NNPCL Unveils New Senior Management Team
Oil & Gas

NNPCL Unveils New Senior Management Team

April 5, 2025
Tinubu, Dangote Refinery And Mele Kyari’s Sack
Oil & Gas

Tinubu, Dangote Refinery And Mele Kyari’s Sack

April 2, 2025
Tinubu Removes Mele Kyari As GMD Of NNPCL, Appoints Ojulari As Replacement
National

Tinubu Removes Mele Kyari As GMD Of NNPCL, Appoints Ojulari As Replacement

April 2, 2025
Next Post

Ogoni Remediation : FEC Approves N1.4bln For Project Vehicles

2 Traditional Rulers, 5 Others Arrested Over Edo Train Attack

2 Traditional Rulers, 5 Others Arrested Over Edo Train Attack

Gunmen Kill 4 In Anambra

Terrorists Kill 6, Injure Many In Kaduna Community

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

Recommended

NLC Gives FG 7-Day Ultimatum To End Naira, Fuel Crises Or Face Strike Action

NLC Gives FG 7-Day Ultimatum To End Naira, Fuel Crises Or Face Strike Action

2 years ago
Gov. Abiodun Welcomes NBS Reports On Ogun IGR, Says It Reflects State’s Economic Resilience, Growth

Gov. Abiodun Welcomes NBS Reports On Ogun IGR, Says It Reflects State’s Economic Resilience, Growth

6 months ago
Go After Terrorists, Restructure Nigeria Now – Afenifere Urges Tinubu

TMSG Welcomes President Tinubu’s N2tln Stabilisation Package

10 months ago
FAAC Shares N1.08trillion November Revenue To FG, States, LGs

FAAC Shares N1.08trillion November Revenue To FG, States, LGs

1 year ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

Topics

Abiodun Abuja APC arrest Atiku Bandits Bello Benue Buhari CBN Court Dangote death drugs Economy EFCC Election elections FG Fraud gunmen Hajj INEC Kano kidnap Kill Kogi Kwara Lagos NDLEA Niger Nigeria Ododo Ogun Oyo PDP Police Power rescue road Security Senate students Tinubu US
No Result
View All Result

Highlights

New Pope Is Chosen As White Smoke Popped Up From Sistine Chapel

2027 : APGA Adopts President Bola Tinubu As Presidential Candidate

Gov. Radda, APC Chairman Present As Three PDP House Of Reps Members Defect To APC

Police Arrest Ekiti Female University Student For Faking Kidnap To Spend Night With Boyfriend

Gov. Mutfwang Flags Off Distribution Of Dangote Food Palliative In Plateau

Labour Party Suspends Abia Governor, Otti, Nwokocha, Ireti Kingibe For Anti – party

Trending

NASCON Records100% Growth In Dividend Payout, Attributes Higher Profitability To Massive Expansion Drive
Business

NASCON Records100% Growth In Dividend Payout, Attributes Higher Profitability To Massive Expansion Drive

by Vital News
May 8, 2025
0

The Management of NASCON Allied Industries Plc, has attributed significant growth in the dividend payout by 100...

President Tinubu In Anambra, Promises To Tackle Erosion, Reactivate Gas Plan, Integrate State Into National Rail Systems

President Tinubu In Anambra, Promises To Tackle Erosion, Reactivate Gas Plan, Integrate State Into National Rail Systems

May 8, 2025
Robert Prevost Is The New Pope

Robert Prevost Is The New Pope

May 8, 2025

New Pope Is Chosen As White Smoke Popped Up From Sistine Chapel

May 8, 2025
Tinubu, Dangote Refinery And Mele Kyari’s Sack

2027 : APGA Adopts President Bola Tinubu As Presidential Candidate

May 8, 2025
ADVERTISEMENT
Vital News

Vital News is an online newspaper with a mission to uphold professional journalism by reporting and publishing only facts and figures-based news reports across Nigeria and beyond.

Recent News

  • NASCON Records100% Growth In Dividend Payout, Attributes Higher Profitability To Massive Expansion Drive May 8, 2025
  • President Tinubu In Anambra, Promises To Tackle Erosion, Reactivate Gas Plan, Integrate State Into National Rail Systems May 8, 2025
  • Robert Prevost Is The New Pope May 8, 2025

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

© 2022 Vital News - . All Rights Reserved.

No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security

© 2022 Vital News - Vital News by Vital News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In