The Federal Executive Council on Wednesday approved N500 million for the completion of the Baro River Port in Niger state.
Minister of Transport, Rotimi Amaechi, told State House correspondents after Wednesday’s meeting of the council that the contract also includes the purchase of forklifts.
The Council also gave approval for the reimbursement of Kwara state government to undertake the construction of the Kayamashi road which serves the Agricultural belt that produces Agro Product between Oyo and Kwara state.
Minister of Works, Power and Housing, Babatunde Fashola, said that the state government had applied to be allowed to fix the road on the basis that they will be refunded sometime in the future.
The road contract is in the tune of N7.9 billion naira.
Fashola also revealed that the government has ratified an earlier approval given for GE to undertake the Afam emergency fast power project.
The programme which is under the government’s incremental power project will see to the completion of a 240 mega Watts’s emergency power through a 830MW turbines this year.
In the same vein council had approved the contract for the construction and rehabilitation of the sub-station to enable the evacuation of the power, once the turbines are installed.
The power contract is placed at the cost of $186.6 dollars while the sub station contracts is placed at $2.207million dollars and with a naira component of N133.184 million naira for the evacuation of the power.
The Federal Government also On Wednesday ratified a convention on tax treaties to curb profit shifting and tax evasions in the country.
Minister of Finance, Kemi Adeosun, who explained this to journalists, noted that the move was part of the government’s plan to boost its tax base and improve on its revenue generation.
Adeosun said the convention will also enable the country evaluate, amend and cancel some of its existing treaties not beneficial for its development.
She said the convention will also give the country the right to go and amend treaties and opt out of some of those not favourable but already entered by previous
administrations.
