The Federal Executive Council has approved that Nigeria pay its 2020 annual contribution to the West African Power Pool.
This was announced by the Minister of Power, Saleh Mamman while briefing State House correspondents in Abuja after the weekly FEC meeting.
According to him, the country’s annual contribution to the pool is $2m.
Justifying the approval for the payment, the minister said, “The pool is about having synergy within the West African region.
“The decision has been taken by ECOWAS, it is for the generation of electricity for the region, so as to have more constant and steady power supply.
“It is like the national grid in Nigeria. So, we are going to have regional grid. It means in case there is a failure in one country, another can supplement. The $2m is a contribution.”
On his part, the Minister of Information and Culture, Lai Mohammed also revealed that the Federal Executive Council also approved the award of contract for the reconstruction of the Apapa-Oworonshoki-Ojota Road Section II for the sum of N22.247bn.
Mohammed said the augmentation of the contract sum for the dualisation of Kano-Maiduguri Road was also approved.
He put the augmentation cost at N8bn, therefore bringing the total cost of the contract to N63bn.
He said, “I want to report that the Minister of Works and Housing presented a memo which was approved in council today for the award of a contract for the reconstruction of the Apapa-Oworonshoki-Ojota Phase Section II, which is bit land interchange, 8.1km stretch.
“You will recall that in 2018, the Federal Government approved an award of contract to Dangote Industry for the sum of N72bn.
“By the time the award was made, there was this section of the road that was in fairly good condition. But with the construction of the Oworonshoki project coming to an end, it now makes better sense to include that section which was fairly good.
“This contract was awarded today in the sum of N22,247,332,000. But you must know that this is one of the projects being awarded under Infrastructural Tax Credit Scheme.
“In other words, it is awarded to Dangote and Dangote will construct it and over the years, it will be deducted from the tax payable by the group.”