FG approves N7.9bn for reimbursement to Kwara govt.

Date: 2017-06-15

The Federal Executive Council presided over by Acting President Yemi Osinbajo on Wednesday approved N7.94billion for the reimbursement of Kwara Government to undertake the construction of the Kaiama-kishi road.

The Minister of Works, Power and Housing, Mr Babatunde Fashola disclosed this while briefing State House correspondents alongside the Minister of Transportation, Rotimi Amaechi and Minister of Finance, Mrs Kemi Adeosun, on the outcome of the Council's meeting in Abuja.

According to him, the road serves the Agricultural belt that produces Agro Product between Oyo and Kwara states.

"So, Kwara has applied to be allowed to take that road on the basis that they will be refunded at sometime in the future.

"We have actually received anticipatory approval from Mr President and the Council has ratified that approval for them to continue," he said. He further disclosed that the Council approved 186.6million dollars for the completion of the AFAM Power plant, which was part of the ministry's roadmap for incremental power to the grid.

"Council ratified the earlier approval given for GE to undertake that project so that we can complete 240MW of emergency power through 830MW turbines this year. "The Council also approved "2.2million dollars for the construction and rehabilitation of the sub-station to enable the evacuation of the power, once the turbines are installed," Fashola added.

In his contribution, Amaechi revealed that the Council approved N500million for the completion of Baro River Port in Niger state.

"We got an approval for the completion of Baro River Port. The council deliberated on three major contracts that will assist us in the completion of the project.

"We hope that in the next four to six months we should be able to complete the Baro River Port."

He said the Council directed the Minister of works, Power and Housing to look into possibility of reconstructing the roads leading to the River Port while the Ministry of Transportation would look at the revival of the narrow gauge to the Port.

The Minister of Finance, Kemi Adeosun, disclosed that the Council granted permission to the ministry to sign a multilateral convention to implement tax treaty related matters to "prevent tax evasion and profit shifting".

Adeosun said: "The benefits are the convention will swiftly modify existing bilateral tax treaties to implement tax treaty related matters in a cost efficient manner instead of individual negotiation and amendment of the treaty.

"It will incorporate into existing tax treaties provisions that will prevent the granting of tax treaty benefit in an appropriate circumstance. "It will address tax treaty abuse, promote transparency and drastically curtail illicit financial flows and ultimately it will increase the tax revenue of the government," she said.

Source

 

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

General Tunde Idiagbon International Airport     Okedare     Sarafadeen Kayode Akorede     Sunday Fagbemi     Titus Suberu-Ajibola     AGF Abdulrazaq     Yahaya Jibril Usman     Oba-Solagberu     Olabode Towoju     Titus Ashaolu     Dorcas Afeniforo     Clara Nwachukwu     Muslim Stakeholders Of Kwara State     Umar Sanda Yusuf     Umar Yakubu Jaja     John Olobayo     Saliu Alamoyo     Amada Jidda     Ilorin General Hospital     Kayode Zubair     Wasiu Onidugbe     Ayo Salami     Ahmed Mohammed Rifun     Allocation     Sarakite     Face Masks     Minimum Wage     Special Agro-industrial Processing Zone     Bayer Nigeria Limited     Adam Abdullahi Al-Ilory     Yusuf Arowosaye     Folorunsho Erubu     Lawyers Unite Against Corruption     Christian Association Of Nigeria     Dunmade     Hassan Taiye Salam     Sabi     Bola Shagaya     Ahman Pategi University     Ileloke     Aliyu Sabi     Abubakar Olusola Saraki     Donatus Ejidike     Police Commissioner     Economic And Financial Crimes Commission     Tanke Flyover Bridge     CUTI     Abdulkadri Ahmad Alaiye     ER-KANG     JSSCE     New Nigeria People’s Party     Saeedat Aliyu     Jimba Babatunde     ITP     Centre For Peace And Strategic Studies     Saliu Oluwole     Michael Nzwekwe     Nigerian Army     COEASU     Women For Change And Development Initiative     SARS     Mumeen Lah     Savannah Centre For Diplomacy, Democracy And Development     Shuaib Jawondo     Alapansapa     MalHub     Abiodun Jacob Ajiboye     Otuka     Peter Amogbonjaye     Ishaq Oloyede     Ahmad Uthman     Baba Isale     Sheikh Ridhwanullah     Isau     Joshua Adeyemi Adimula     Joseph Yemi Ajayi     Abdullahi Atanda    

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

NITDA     Trade Lenda SME Fair     Mohammed Yisa     Funke Adedoyin     Shaaba Lafiagi     Muhammed Mahe Abdulkadir     Ganmo Electricity Sub-Station     Ibrahim Issa Jetti     Javed Khan     Federal College Of Education (Special), Afon     Yusuf Mubarak     Kwarareports     Okedare     Elerinjare-Ibobo     Cornelius Adebayo     Ajia-Bako     Gbenga Olawepo     Ijagbo     Ahmed Mohammed Rifun     Saliu Tunde Bello     Bureau Of Lands     Kwara Polytechnic     Gabriel Fashanu     KWAFFA     Isapa     Yoruba     AbdulKareem Yusuf Danhawa     Omupo     Suleman Abubakar     Mukhtar Shagaya     Sabo-Oke     Atunwa     Maja     EFCC     Gani Saadu     Femi Gbajabiamila     Hausa     Ayekale     Chemiroy Nigeria Limited     Ladi Hassan     AbdulHamid Adi     Adijat Adebiyi     Isiaka Gold     Coronavirus     Abdulrahman Abdulrazak     Micheal Imodu-Ganmo Road     Azeez Bello     Omotoso Musa     Muhammadu Buhari     Aisha Abodunrin Ibrahim     Amos Bajeh     Bilikis Oladimeji     Mope Dasuki Belgore     Elerin Of Adanla Irese     Garba Idris Ajia     Photo News     Kwara Basketball Association     Agboola Babatunde     Budo Egba     Adekunle David Dunmade     Yusuf Lawal     Elesie Of Esie     Vasolar-Kwara Company Ltd     Femtech     Omoniyi     Federal Neuro-Psychiatric Hospital     Kolade Solagberu     Imam Gambari     Mazars Consulting     Moshood Bakare     ITEM 7     Abdul-Rahoof Bello     Shonga Farm Project     Amos Sayo     Amina Susa\'a De Ahmed     Charles Ibitoye     Aliyu Adebayo