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.

Ahmed \'Lateef     UNILORIN Alumni     Kehinde Baale     Olajumoke Monsura Gafar     Elerin Of Adanla     Adamu Attah     Rebecca Bake     Ahmed Bolaji Nagode     Nurudeen Mohammed     Yusuf Amuda Aluko     Shehu Alimi Foundation For Peace And Development     Kwara Central     Oko-Erin     Tsado Manman     Ilesha-Baruba-Gwanara     Student Learning Support Helpline     Isiaka AbdulRazaq     Kamaldeen Gambari     Women Radio     Adolescent Girls Initiative For Learning And Empowerment     MalHub     Adeniyi Ojo     Gurei     Aliyu Olatunji Ajanaku     Okala Baba     Amos Justus Sayo     RTEAN     Aliyu Alhassan     CBT     Quran     Tescom.kwarastate.gov.ng     Ayedun     Owu Fall     Olatinwo     ER-KANG     Akanbi-Oke     Solomon Edoja     Sheriff Olanrewaju     Yaman     Unicontinental Construction Company     Olatomiwa Williams     AbdulGafar Tosho     Kwara State Pension Board     Asiwaju Bola Tinubu     Mohammed Halidu     Muhammed Mahe Abdulkadir     Offa Metropolitan Club     Ilorin Emirate Stakeholders Forum     Abdulraheem Olesin     Mohammed Kamaludeen     Yemi Osinbajo     Abdullahi Samari     Tunde Kazeem     Olupako     Valsolar-Kwara Company Limited     Abdul-Rahoof Bello     Neo Mundo Ltd     Lukman Adeloyin     Samuel Olusegun Adedayo     Haliru Yahaya     Saka Saadu     Quareeb Islamic Association     Henry Makinwa     Yahaya Seriki Gambari     Lawan     Revenue Court     KWASAA     Computer Based Test     Kwara Polytechnic     Obayomi Azeez     Kola Olota     Aisha Abodunrin Ibrahim     Abatemi Usman     Afolayan     Special Agro-Industrial Hub     Lukman Oyebanji Fagbemi     Isaac Aderemi Kolawole    

Cloud Tag: What's trending

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

Atiku     Alumni Association Of The Federal Polytechnic Offa     Mustapha Akanbi     Kazeem Oladepo     Ibrahim Mohammed     KWSUED     Joseph Daudu     Igbomina     Olugbense     Amos Sayo     Sayomi     Dapo Teni Nig Enterprise     Mohammed Saidu     Michael Imoudu National Institute For Labour Studies     Kwara Consultative Forum     Mutawali Of Ilorin     AbdulRahman Saad     Oniyangi Kunle Sulaiman     KWATMA     Metro Park     Abdulhakeem Amao     Aisha Ahman-Pategi     Tunde Mukaila Mustapha     Omar Gambari     Abdulmajeed Wahab     Chief Of Staff     Chief Imam Of Ilorin     Logun     Kehinde Baale     T And K FOODS     National Party Of Nigeria     IF-K     Mazars Consulting     Mary Kemi Adeosun     John Olobayo     Isiaka AbdulRazaq     Baboko Primary School     Olaitan Adefila     Oniye     All Peoples Party     Societe Generale Bank Of Nigeria     Arik     Funke Adedoyin     Omar Bolaji Gambari     Iyabo Dupe Adekeye     Zara Umar     Olumide Daniel Ibitoye     Afetu Of Alabe     Ifelodun     Arinola Fatimoh Lawal     Ophthalmological Society Of Nigeria     Segun Ogunsola     Moshood Mustapha     Naira Redesign     Muhammad Ghali Alaaya     Sulyman Atolagbe Alege     Lanre Olosunde     Democracy Day     Tsado Manman     Oyeyemi Olasumbo Florence     Baba Isale     Kishira     Road Transport Employers Association Of Nigeria     Abdulrasheed Lafia     Budo-Egba     Kwara 2015     Ahmed Idris Mohammed     Balogin Alanamu     Nigeria Computer Society     Ishaq Abdulkarim     Idowu Aremu     V.O. Abioye     CCT     Yusuf Ali     Muhammed Mahe Abdulkadir     Olupako Of Share     Countryside Emerging Leaders Fellowship