By Williams Anuku, Abuja
The Federal Executive Council (FEC), presided over by President Muhammadu Buhari has approved the sum of N35 billion for the building of power station by the Nigerian Export Processing Zone Authority (NEPZA), in Akamkpa, Cross River State.
According to Niyi Adebayo, the Minister of Industry Trade and Investment, the contract is to be awarded to Messers Mutual Commitment Nigeria Limited, the power station is to power the Calabar Export Processing Zone.
The exact contract sum is N35,411,119,159.47 and the contractor will finance 75 per cent of the project, which is in the sum of N26,558,339,337.10 while NEPZA would finance 25 per cent which translates to N8,852,779,792.37.
He said the council approved a payback period of 10 years of the contractor’s portion.
Adebayo said on completion after 11 months, the plant will be operated by the contractor for five years during which they will build local capacity that will take over the running of the plant.
He said: “The whole intention of the upgrade of the two zones is to create zones with world-class standards. The Ministry of Industry, Trade and Investment is desirous of making Nigeria a manufacturing hub, especially now that we have signed on to the Africa Continental Free Trade Area (AFCTA) Agreement. So, by putting 24-hour power in the two processing zones, it will make it more attractive to foreign investors to come and set up manufacturing concerns here in Nigeria.
The 32nd virtual FEC also approved 20 private universities.
The Minister of Education, Adamu Adamu, who briefed State House Correspondents, said the approved universities will get their provisional licenses from the National Universities Commission (NUC), which they will use for the next three years while monitoring and evaluation will go on.
The approved universities are Topfaith University, Mkpatak, Akwa Ibom State. Thomas Adewumi University, Oko-Irese, Kwara State, Maranatha University, Mgbidi, Imo State, Ave Maria University, Piyanko, Nasarawa State, and Al-Istiqama University, Sumaila, Kano State.
Others are Mudiame University, Irrua, Edo State, Havilla University, Nde-Ikom, Cross River State, Claretian University of Nigeria, Nekede, Imo State, NOK University, Kachia, Kaduna State and Karl-Kumm University, Vom, Plateau State.
Others are James Hope University, Lagos, Lagos State, Maryam Abacha American University of Nigeria, Kano, Kano State, Capital City University, Kano, Kano State, Ahman Pategi University, Pategi, Kwara State, and University of Offa, Offa, Kwara State.
Others are Mewar University, Masaka, Nasarawa State, Edusoko University, Bida, Niger State, Philomath University, Kuje, Abuja, Khadija University, Majia, Jigawa State and Anan University, Kwall, Plateau State.
Nine of the private universities are located in North Central, three in South South, two in South East, five of them in North West and one in South West.
Mines and Steel Development, Olamilekan Adegbite, said the council approved for the categorization of Aluminum Smelting Company of Nigeria that is in Ikot Abasi, Akwa Ibom State, as a power-producing and strategic company.
With the approval, Adegbite said the production of aluminium will start in Nigeria.
Council also approved the sum of N783,521,275 inclusive of 7.5 per cent VAT for the award of contract for the procurement of two hydrographic survey boats for the National Inland Waterways Authority (NIWA) by Ministry of Transportation, in Favour of Messers First Index Project and Services Limited.
The Minister of Information and Culture, Lai Mohammed, who briefed on behalf of his colleague, Rotimi Amaechi, said the contract has six months c…
