By TechnocratMedia
The federal executive council (FEC) has approved an additional N28.1 billion naira for road projects in the Wasa District of the federal capital territory (FCT).
The approval was given by the council on Wednesday in the weekly FEC meeting, presided over by President Muhammadu Buhari.
Muhammadu Bello, FCT minister, who addressed journalists after the meeting, said the additional approval was a ripple effect of inflation in the country, which has overtaken the N56 billion earlier approved for projects in the Wasa District.
“The initial contract for that project was awarded in 2014 at the sum of N56 billion but as time went by and due to inflation and some other factors, we had to vary the contract and the price to reflect current realities and that is the reason why the augmentation request was presented to council and council approved,” he said.
The minister said the total project sum was N85 billion to be completed in forty-two months.
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