Daily Independent (Lagos)
Chesa Chesa
11 December 2008
Abuja — Aso Rock is on a collision course with the Senate with the approval by the Federal Executive Council (FEC) on Wednesday of $90 million (N12.2 billion) loan from the World Bank.
The loan was obtained through the International Development Association (IDA), an arm of the World Bank.
Senators have kicked against it, arguing that Nigeria can live without borrowing.
The money will finance the second phase of the Health Systems Development Project (HSDP II) meant to improve primary healthcare delivery services with focus on maternal, child and reproductive health in 22 states.
Information Minister, John Odey, who confirmed the approval after the FEC meeting, also disclosed the approval of the establishment of the headquarters of the African Central Bank (ACB) in Abuja.
The ACB is one of the three financial institutions approved by the African Union (AU). Libya will host the African Investment Bank (AIB), and Cameroon the African Monetary Fund (AMF).
The FEC granted 16 tertiary institutions approval to use internally generated revenue (IGR) to execute priority projects. Additional approvals include:
*A N187.99 million contract for the installation of three 1000KVA generators at the Shehu Shagari Presidential Complex, Abuja.
*A contract to supply one fire engine truck to the Federal Secretariat Phase I, Abuja for N57.42 million, and another for the expansion of the passenger apron at the Port Harcourt International Airport at a cost of N506 million.
*The upgrading of the airfield lighting system of the domestic runway of the Murtala Mohammed International Airport in Lagos for N960.55 million.
*The draft Bill titled "An Act to Repeal the Debt Management Office Establishment Act No. 18 of 2003" and re-enacted the Debt Management Office Establishment Act 2008, to establish the Debt Management Office and for Related Matters.
*The draft Bill for an Act to repeal the exclusive economic zone Act Cap TS LFN 2004 and enact the Maritime Zones Act to provide for the Maritime Zones of Nigeria.
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