FEC Meeting
Nigerian government approves N9.2 billion premium for civil servants’ life insurance
The Federal Executive Council (FEC) has approved the sum of N9.2billion as premium to insurance companies that will manage the group life insurance for federal civil servants in the country. Minister of Information and Culture Lai Mohammed revealed this when he briefed State House correspondents on the outcome of the Council meeting which was presided over by President Muhammadu Buhari in Abuja on Wednesday. He said: “On behalf of the Head of Civil Service of the Federation, I will like to report that council today approved the award of contract for the appointment of insurance companies for group life assurance for federal government employees, public servants, para-military and the intelligence community for the year 2021-2022 in the sum of N9, 248. 995, 907. “This premium is for a perio...
Nigerian government approves new debt management strategy
The Federal Executive Council (FEC) has approved a new Medium-Term Debt Management Strategy for Nigeria (MTDS) for the period 2020-2023. With the approval, announced during Wednesday’s virtual FEC meeting, the DMO which is saddled with managing the nation’s debt matters, has promised full implementation to support economic development while ensuring that public debt is sustainable. The MTDS is a policy document which provides a guide to the borrowing activities of the government in the medium-term, usually four years. It is recognised as one of the best practices in public debt management and is recommended by the World Bank and International Monetary Fund (IMF) to ensure that public debt management is driven by a well-articulated strategy that is structured to meet a country’s broader mac...
FEC approves N117 billion for rehabilitation of major roads in Nigeria
The Federal Executive Council (FEC) on Wednesday approved N117.6 billion for the rehabilitation of some major roads across Nigeria. Wednesday’s FEC meeting was chaired by President Muhammadu Buhari. The Minister of Works and Housing, Babatunde Fashola, disclosed this while briefing journalists at the end of the meeting. “The Ministry of Works and Housing presented three memoranda, two relating to roads and one relating to a banking application. “The first set of roads is for a total sum of N18,923,846,198.47, and it is with respect to roads and bridges as follows; rehabilitation of 26 km road linking Kano, Jigawa and the Katsina States, N8.767 billion, Omo-Umulokpa road in Anambra and the Enugu States, N1.712 billion, rehabilitation of Oye-Oranta road in Anambra, N2.504 billion, Okpoko bri...
Nigeria ratifies membership of AfCFTA
The Federal Executive Council, FEC, on Wednesday ratified Nigeria’s membership of the Africa Continental Free Trade Area, AfCFTA, as the implementation of the agreement formally takes-off on January 1, 2021. This is as the Council has approved N62.7 billion for the construction of Kano-Dawakin-Tofa-Gwarzo-Dariyo road in Kano. Briefing State House correspondents at the end of the 23rd virtual FEC meeting presided over by President Muhammadu Buhari at the Council Chamber, Presidential Villa, Abuja, the Minister of Information and Culture, Alhaji Lai Mohammed, said whereas the implementation of the agreement was initially scheduled to commence in July, this year, the plan was stalled by the spread of COVID-19. Alhaji Mohammed, who briefed on behalf of the Minister of Industry, Trade and Inves...
President Buhari, ministers hold second virtual FEC meeting
President Muhammadu Buhari and ministers are attending a virtual Federal Executive Council meeting. Buhari attends from the Presidential Villa in Abuja. It is the second virtual FEC meeting since the coronavirus pandemic started. The first virtual FEC meeting was held on Wednesday, last week. The virtual option was adopted as part of measures to guard against the spread of the virus. Only ministers with memos to present need to be physically present at the Presidential Villa while others linked up from their different locations. Get more stories like this on Twitter You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn reward...
