FEC Approves N11.67 Billion For Power Projects

The Federal Executive Council has approved contracts totaling about N11.67billion for the Ministry of Power for the procurement of transmission sub-stations and transformers for the Transmission Company of Nigeria.

The approval was given at Wednesday’s meeting of the Council presided over by Vice President Yemi Osinbajo.

Minister of Power, Abubakar Aliyu, who briefed State House correspondents after the meeting, said that the first memo approved for the ministry was for the design, supply and installation of of 1/60MVA 132 33KV Transmission Sub-Station with associated 4/132 KV Line Bay Extension at Hong, Hong LGA in Adamawa State.

He said the approval was in favour of Messrs Associate Power Solution Engineering Limited in the sum of over N6.53billion.

He said that figure consisted of two components, explaining that one was for offshore, which amounted to $6.93million, while the onshore was N3.34billion at the Central Bank of Nigeria, CBN, prevailing exchange rate and 7.5% VAT.

The delivery period of the contract is 24 months.