Vanguard (Lagos)

28 November 2012

Nigeria: FG Approves Another N19.4 for Contacts

The Federal Executive Council Wednesday approved the final set of contracts for this year totaling N19.4 Billion in road construction, Rail transportation, infrastructural development in the Federal Capital Territory as well as the construction of a one hundred and fifty seater capacity Banquet hall at the presidential Villa Abuja.

Special Adviser to the President on Media and Publicity, Dr Reuben Abati who briefed state house correspondents after the meeting said subsequent federal Executive Council meetings will be devoted to reviewing what has been achieved by government in the last one year.

Dr Abati who stood in for the Minister of Information Labaran Maku said apart from the roads, rail and other contracts, the council also approved for the award of contract for the conduct of fiscal allocation and statutory disbursement audit for the 2007 to 2011 oil and gas industry audit.

According to him, the approval is in conformity with section 2 of the NEITI Act 2007, adding that "the objective of this initiative is to ensure transparency and accountability in the application of resources from payments received from extractive industries and to further ensure that all fiscal allocations and statutory disbursements due from the Federal Government to statutory recipients are dully made.

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