The Federal Executive Council (FEC) has approved the sum of N65.39bn in both foreign and local denominations, to execute 16 power projects in 2022.
This was disclosed by the Minister of Power, Abubakar Aliyu at the end of an extraordinary meeting of FEC chaired by Vice President Yemi Osinbajo at the Presidential Villa, on Thursday in Abuja.
He explained that the extraordinary session was to ensure the country starts 2022 on a clean page in the aspect of electricity supply.
Aliyu who presented the memos said, “the Buhari regime had done more than its predecessors to ensure that Nigerians experience improved electric power supply.”
He said, “FEC approved $65,606,420, €15,152,651 and N31,360,272,397 respectively for the award of contract for the construction of a 2X60MVA 132/33 KVA substation at Ikare-Akoko and 2×132 KV Lines Bay Extension at Oke-Agbe, Ondo State at the cost of$9,9928,912.80 and N2,037,076,700.00.
“Supply of 65 Hilux vehicles and 20 SUVs nationwide at the cost of N2,741,787,500.00.
“Procurement of 1,500 drums of transformer oil nationwide at N322,500,000.00.
“Supply of 19 Sergitransformer explosion and fire protection devices nationwide at €5,326,663,70 and N347,629,092.57.”