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.

Savannah Centre For Diplomacy, Democracy And Development     Abdullahi Saadudeen Alikinla     Jamila Bio Ibrahim     Aliyu Alhassan     Bolaji Gambari     Khairat Gwadabe     Mahfouz Adedimeji     Abdulmajeed Abdullahi     Amosa     Folorunsho Alao     Oloruntoyosi Thomas     Rafiu Olasile     Ilorin Amusement Park     Fola Consultant     Amule     Labour Party     Mamatu Abdullahi     Dan Iya Of Ilorin     Kwara-SAPZ Project     Umar Ahmed Gunu     Oja-Oba     Joana Nnazua Kolo     Saliu Ajia     Yusuf Amuda Abubakar     Aisha Buhari     AbdulHamid Adi     Iqra Books     Rice Farmers Association Of Nigeria     YAKOOYO     Sarah Alade     Olusin Of Ijara Isin     Mansur Alfanla     Hameed Oladipupo Ali     Abdullahi AbdulMajeed     Kwara Muslim Pilgrims Welfare Board     Damilola Yusuf Adelodun     Sabi     Harrison Osauwagboe     Bilikis Oladimeji     Yakubu Shaaba     Halidu Danbaba     Makama     Samuel Olusegun Adedayo     Isapa     KWASSIP     Taofik Abdulkareem     Unicontinental Construction Company     Arinola Lawal     Oyedepo     Muslim Media Watch Group Of Nigeria     Shonga     Adebara     Kwara State Government     Yahaya A Paniyaro     General Hospital, Offa     Yusuf Babatunde Abdulwahab     Yusuf A. Usman     International Public Sector Accounting Standards     Ajakaye     Marufat Oladosu     National Party Of Nigeria     CACOVID     Minister     Omoniyi M. Ayinla     Balogun Ajikobi     Tunji Ajanaku     Ajase-Ipo     Ndakene     Mike Omotosho     Omu-aran     Baba-Isale     Abdulrazak Shehu Akorede     Kayode Zubair     RTEAN     Ayoade Akinnibosun     Mujtabah Bature     Justina Oha    

Cloud Tag: What's trending

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

Saad Omo Iya     Abdulsalam A. Yusuf     Just Event Online     Gbajabiamila     Plat Technologies     Lanre Badmas     Ademola Kiyesola     Bashir Adigun     Iyiola Oyedepo     Abdulazeez Uthman     Sarakite     Omupo     Muideen Olaniyi Alalade     Imodoye Writer’s Enclave     Bahago     Harafat E. Mukadam     Yahaya Muhammad     Babaita     Oloje     JAMB     Bolaji Nagode     African Democratic Congress     Umar Ahmed Gunu     Olusola Saraki     Saliu Shola Taofeek     Kwara Basketball Association     Radio SBS     Oke Sunna     GANZY     Olaitan Buraimoh     Gbugbu     Toyin Olayinka Tejidini     Gafaru Olayiwola Olorisade     NYSC     Soffiyyallah Kamaldeen     Split Diamond Interchange     Okoolowo     Kannike     Kulende     Al-Hikmah University     Basic Education Certificate Examination     Abubakar Atiku     Apaola     AbdulKareem Yusuf Danhawa     Aisha Buhari     Mohammed Kamaludeen     Ajeigbe     Adamu Jemilat-Baki     Saka Abimbola Isau     IESA     Adebara     Kolade Solagberu     Arca Santa     Bello Bature     Ohoro Of Shao     Ekiti     Chief Imam Of Omu-Aran     Joseph Offorjama     Ronke Adeyemi     Ajasse-Ipo     Umar Danladi Shero     Ilesha-Baruba     Samuel Olusegun Adedayo     Umar Bayo Abdulwahab     Mohammed Danjuma     Salman Suleiman     Jani Ibrahim     Hikmah AbdulKareem     Abatemi-Usman     Michael Nzekwe     Musibau Akanji     Haleeman Salman     ER-KANG Mining Nigeria Company Limited     Ogidi-Oloje     Hydroelectric Power Producing Areas Development Commission     HICA     Laboratory-to-Product