'FX rate affected negotiations' -- FEC approves N740bn to construct Kano-Abuja road

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'FX rate affected negotiations' -- FEC approves N740bn to construct Kano-Abuja road
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The federal executive council (FEC) has approved N740 billion for the construction of the Kano-Abuja road project.

The federal executive council has approved N740 billion for the construction of the Kano-Abuja road project.

According to Umahi, the Abuja-Kano road, previously slated for a tax credit arrangement, “will now be procured without such a provision, with the 162-kilometer Berger section already approved for N740 billion”.The minister also announced that the Shagamu-Benin road is undergoing critical rehabilitation, while procurement processes are being finalised for its full reconstruction using reinforced concrete pavement.

To manage the backlog, the minister said the ministry of works has initiated a phased approach to project completion based on available funding.

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