Approves $11.17bn rail project to link coastal cities
The Federal Executive Council, (FEC), yesterday approved contracts worth $1.4 billion for the rehabilitation of the Kaduna and Warri refineries.
Minister of State for Petroleum Resources, Timipre Sylva, disclosed this to State House correspondents at the end of the FEC meeting presided over by Vice-President Yemi Osinbajo at the Presidential Villa, Abuja.
He said the Kaduna refinery would receive $586 million, while $ 897 million has been earmarked for the rehabilitation of the Warri refinery.
Nigeria has four refineries, with two located in Port Harcourt.
According to Sylva, The completion of the rehabilitation of Warri and Kaduna refineries is going to be in three phases; the first phase will be completed within 21 months while Phase-2 will take 23 months. The full rehabilitation will be completed in 33 months.
Also, the FEC yesterday approved the sum of $11.17bn to link all of Nigerias coastal cities by rail in six years.
Minister of Information and Culture, Lai Mohammed, briefed State House correspondents after the virtual FEC meeting, presided over by Vice-President Yemi Osinbajo yesterday, at the Presidential Villa, Abuja.
Mohammed said that the Minister of Transportation, Rotimi Amaechi, presented two memos, which had to do with Federal Governments commitment to expanding and consolidating on the rail project.
Mohammed said that the Minister of Transportation, Rotimi Amaechi, presented two memos that had to do with Federal Governments commitment to expanding and consolidating on the rail project.
He added that the project was an old project which was inherited by the current administration.
