THE Federal Executive Council (FEC) on Wednesday approved $2,541 million as off-shore and N489.230 million onshore for four contracts to be executed by the Transmission Company of Nigeria (TCN) under the Ministry of Power.
The approval was given by the FEC, which was chaired by Vice-President, Yemi Osinbajo, at the Presidential villa. Approval for both electronic and manual tolling of federal dual-carriage ways across the country was also given.
The Minister of Power, Engr.Sale Mamman, while briefing journalists after the Council meeting, said he presented four memos which were approved.
Mamman said: “One is the supply and installation of motorised portable hydraulic compressor for the Transmission Company of Nigeria (TCN) in favour of Messrs Intern Equipment Nigeria Limited with the sum of $502,950 plus N15,800,000.
“The second approval was also received for the award of the contract for the supply and delivery of three sets of online partial discharge measurement and monitoring equipment for the TCN in favour of Messrs T and D Technology Limited in the sum of $ 874,800 offshore plus N240.100 million onshore with a delivery period of nine months.
“Approval was also granted for the contract for procurement of 10 sets of 330 KV and 30 sets of 133 KV circuit breaker for the TCN in favour of Horsepower Engineering Trading Limited in the sum of $502,719 plus N114.571 million with a delivery period of six months.”
Minister of Works and Housing, Babatunde Fashola, told newsmen that the Council approved a broad policy that will guide the tolling of federal roads. According to him, the policy was arrived at after meticulous consultations with relevant agencies, stakeholders and road users across the country.
Though he said the tolling would not start until the roads were made motorable, Fashola disclosed that only dual carriageways of 35,000 kilometers of the federal roads would be eligible for tolling by the federal government.
According to him, dual carriageways represent only 5,050km out of 35,000km, meaning that about 14.3 per cent of total federal dual carriage-ways would be tolled.
He said that the Council approved that the funds realised from the tolls be used for maintenance, construction of new roads and also to paying the investors who invest in building or completing a road and then take a concession on it.
