FEC also approved the second phase of the electronic Nigeria Social Insurance Trust Fund for N15 billion.
The Minister of Works and Housing, Babatunde Fashola, has said over 700 kilometres of roads spreading across 11 states in the country would soon be completed.
Mr Fashola disclosed this while briefing State House correspondents on the outcome of the meeting of the Federal Executive Council (FEC) on Wednesday in Abuja.
The meeting was presided over by Vice President Yemi Osinbajo.
Mr Fashola said over N1.5 trillion would be spent on the projects by the Nigerian National Petroleum Company Limited (NNPC).
According to him, the states where the roads are sited include Edo, Delta, Kano, Kaduna, Borno and Adamawa.
"The Council gave approval for the construction and rehabilitation of 11 roads totalling 737.242 kilometres in the sum of N1, 535, 154, 247, 234.48 under phase II of the NNPC tax credit scheme.
"Recall that in January this year, the council approved a memo for the NNPC to invest N1.9 trillion on our roads. That amount was then about 44 roads that had been awarded and the balance of those roads that had to go through procurement between then and now are the 11 that have now been approved by the council, " Mr Fashola said.
N15bn to upgrade NSITF infrastructure
Also speaking, the Minister of Labour and Employment, Chris Ngige, said the council approved the second phase of the electronic Nigeria Social Insurance Trust Fund, which will enable concessionaires to upgrade the infrastructure at the sum of N15 billion.
The minister also said the council approved the amendment of outdated labour laws to meet globally accepted standards prescribed by the International Labour Organisation.
"This memo is for the electronic NSITF. Nigeria now operates the old Workmen Compensation Act, now Employee Compensation Act 2010.
"Therefore, we are trying to align the contributions of NSITF to make it fraud-free. People should be able to easily make workers' contributions, even from the comfort of their offices, and generate certificates.
"You know that the ECA makes it mandatory for all employers to insure through a token contribution of per cent of emolument of their workers to the fund called social trust fund of the NSITF. And that is the fund with which if you have an accident or disease condition or debt or disability in the course of work, you can make claim, like an insurance claim.
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"So, we now want to refine it, because there are cases of enforcement officers going to companies to tell the company 'well, you have 1000 workers, but you can pay for only 100.'
"That is shortcutting the organization. There are losses of revenue from that. So, this e-NSITF has a phase one and the phase two. The phase two is what the council approved today, they had earlier approved phase one which is minimal infrastructure and cloud activity," the minister said.
N3.4bn for Customs
The Minister of State for Budget and National Planning, Clem Agba, said FEC also approved the sum of N3.4 billion for the procurement of a surveillance aircraft for the use of the Nigerian Customs Service.
"The Ministry of Finance Budget and National Planning presented a couple of memos for which approvals were obtained. The first one was for the award of contract for the procurement of a Cessna Caravan aircraft by the Nigerian Customs in the sum of N3,447,442,710 inclusive of 7.5 per cent VAT with a delivery period of 12 months," he said.
