Following a memo presented by the Minister of Transport, Idris Umar, the Federal Executive Council on Wednesday approved contract for the construction and delivery of 100 channel marking Buoys for the Nigerian Ports Authority.
The contract is for $3.5 million.
The contract, awarded in favour of Messrs Marina Energy Limited, is expected to be completed within 25 months, Presidential Adviser on Media and Publicity, Dr. Reuben Abati, said while briefing State House correspondents after the weekly FEC meeting.
Abati said the scope of work will include the construction of 100 number buoys, their delivery and commissioning at Lagos, Warri, Port Harcourt and Calabar ports access channels.
“Upon completion and indeed total installation, the buoys will help to delineate the channels leading to the ports and also enhance safe navigation in and out of the ports I have listed earlier on,” Abati said.
Another memo approved by the Council was for the augmentation of a contract for land reclamation at Obang-Iju-Ibiro-Oba-Ojinba-Okujagu-Ama water front and bank swarms.
The Council had last year approved N7.9 billion.
Umar said the augumentation was as a result of compelling needs to enhance the work.
It will cost N900 million.
Also, the Minister of Petroleum Resources, Diezani Alison-Madueke, disclosed that the International Financial Corporation had shown commitment to finance the critical gas back-bone pipeline infrastructure projects in the country.
According to Alison-Madueke, the decision to finance the gas infrastructure was sequel to the transparent manner the government handled the privatisation process of the energy sector.
The Federal Government, she noted, is particularly interested in the financing of the development of the Ajaokuta-Kaduna-Kano line.
Her words: “The IFC commended the power privatization process saying it is one of the most successful in the world.
“It was based on the successful privatization process that the IFC made commitment to support the gas project.
“The mobilization of the financial support is expected over the next six months.”
The Minister of State for Finance, Dr. Yerima Ngama, while also speaking, said government will in the next few weeks organise a forum for the new investors in the power sector and the local and international financial institutions.
The Islamic Development Bank, Ngama said, has already budgeted $2 billion to be invested in the private sector in Nigeria.
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