The Federal Executive Council on Wednesday approved two contracts totalling N283.255bn and a foreign component of $18.12m.
The Minister of Finance, Budget and National Planning, Zainab Ahmed, disclosed this to State House correspondents at the end of a virtual meeting of the council presided over by the President, Major General Muhammadu Buhari .She said the first approval was for the revision of a contract that was previously approved by council in 2018 for the supply and installation of three mobile cargo scanners that would be placed in Onne, Port Harcourt and Tin Can Ports.
The second contract, according to the minister, was for the design, construction and supply of five ballistic assault boats and five patrol boats with all associated accessories in favour of Messrs CY West African Limited in the sum of N280,992, 888,75 inclusive of 7.5 per cent VAT. On his part, the Minister of Works and Housing, Babatunde Fashola, said the council approved a policy for the local production of bitumen that is being used for road construction.
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