Road construction BUA Cement to Fund N120 Billion Lokoja-Benin Road Construction
By Roselyn James
The Federal Executive Council, in a marathon session chaired by President Bola Tinubu, has approved a series of critical infrastructure projects totaling N120 billion, including the equalisation of the Okpella portion of the Lokoja-Benin road.
BUA Cement Plc will fund these projects through the tax credit program, alleviating financial burdens on the federal government.
Tuesday’s deliberations also saw the unveiling of 21 major policy measures aimed at economic stimulation, investment attraction, and enhancing the business environment.
Bayo Onanuga, the President’s Special Advisor on Information and Strategy, confirmed the approval and release of these decisions in a statement.
Notable among the approved projects are the dualization of the Auchi Section – Uromi Link Road and the Ekpoma Section of the Lokoja-Benin Road.
These developments follow a recent tragedy on the Lokoja-Benin Road, underscoring the urgent need for infrastructure improvements.
Additionally, contracts for various national road projects, including the Ngaski-Wara road in Kebbi State, the Benin-Agbor road, and the Kaima-Tesse road in Kwara State, were greenlit, with an estimated cost of N546 billion.
Also, CCECC secured a N230 billion contract to construct a bypass in Kano, scheduled for completion within three years.
The FEC meeting, spanning Monday to Tuesday, set a record for its duration, reflecting the depth of discussions and the gravity of decisions made to propel national development and economic growth.
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