The sum of N65,39bn has been approved by the Federal Executive Council in foreign and local denominations to execute power projects in the country.
The Minister of Power, Abubakar Aliyu, made this known to State House Correspondents on Thursday at the end of an extraordinary meeting of FEC presided over by Vice President Yemi Osinbajo at the Presidential Villa, Abuja.
Aliyu said the extraordinary session was to ensure the country begins 2022 on a clean slate in the area of electricity supply.
The Minister, who presented 16 memos which were all approved by the council, 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 2X60 MVA 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 and20 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.”