FEC To Spend $1.48bn Refineries’ Repairs And $11bn For Lagos-Calabar Coastal Rail

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FEC approves$1.48bn refineries’ repairs, $11bn for Lagos-Calabar coastal rail
fec meeting 2021
FEC approves$1.48bn refineries’ repairs, $11bn for Lagos-Calabar coastal rail
fec meeting 2021

On Wednesday, the Federal Executive Council (FEC) authorized $1.48 billion in funding for the repair of two refineries in Warri and Kaduna.

Vice-President Yemi Osinbajo presided over the weekly meeting of the council, which made the decision. He represented, Major General Muhammadu Buhari (retd.) who is currently in London.

Messers Saipem SPA and Saipem Contracting Limited were granted a $1.48 billion contract to rehabilitate the refineries in Warri and Kaduna. Timipre Sylva, Minister of State for Petroleum Resources, said this following the FEC meeting, which lasted around six hours.

Sylva also disclosed that 15% of the projects would be completed in three phases of 21, 23, and 33 months.

The Federal Executive Council also accepted two memos to expand and consolidate on the ongoing rail projects, according to Minister of Information and Culture Lai Mohammed, who spoke on behalf of his counterpart in the transportation ministry, Rotimi Amaechi.

“The first one has to do with the Kano-Jibia rail, and the other one has to do with the Port Harcourt-Maiduguri route,” Mohammed explained.

“What was actually granted there today was cash to ensure that development on those two routes gets started right away. The ratification of the President’s consent for the award of the contract for the Lagos-Calabar coastal standard gauge rail was also authorized today.

“As you may recall, this is an old project that we acquired. Approval was given under the previous administration, but nothing was done with it. The Lagos-Calabar coastline route has been approved by the council today.

He said the route was important because, following the Lagos-Kano line, the Lagos-Calabar coastal route would connect all of Nigeria’s coastal cities.

According to him, the proposed route alignment would run from Lagos to Shagamu, Shagamu to Ijebu-Ode, Ijebu-Ode to Ore, Ore to Benin City, Benin to Sapele, Sapele to Warri, Warri to Yenagoa, Yenagoa to Port Harcourt, Port Harcourt to Aba, Aba to Uyo, Uyo to Calabar, Calabar to Akamkpa to Ikom, to Obudu ranch with a branch line from Benin City to Asaba, Onitsha Bridge and then Port Harcourt to Onne Deep Seaport.

He also said that the project will cost $11.17 billion.

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