FEC approves $1b Chinese loan for Gurara ll Hydropower

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The Federal Executive Council FEC on Wednesday approved approved $1 billion Chinese loan from Chinese EXIM Bank for the Gurara II Hydropower project which has the capacity to generate 360 megawatts electricity.
This is just as FEC also approved about N10b for the purchase of grains under the strategic grains reserve program.
Minister of Water Resources, Sulieman Adamu disclosed this while briefing State House Correspondents after the weekly Federal Executive Council meeting presided over by President Muhammadu Buhari
Adamu said Council also approved N5.7 billion revised total estimated cost for the completion of Nkari dam in Akwa Ibom.
Council also approved the appointment of a consultants for the resuscitate the Gari Irrigation Project in Kano/Jigawa States.
The project which was abandoned for about 17 years was in 2017 approved for the resumption with the same consultant who were appointed in 1998.
Adamu said Council also approved the revised estimated total cost of N10.4 billion for the completion of Ile Ife Dam in Osun State, a project which was started in 2004 and later abandoned.
Federal government has however given the contractors a completion period iof 24 months
This is just as the Minister of Information, Lai Mohammed described the Peoples Democratic Party PDP’s brand of Opposition Politic as posing great threats to Nigeria’s Democracy
Mohammed decried the increasingly unpatriotic and desperate opposition politics being played by the PDP and its presidential candidate, Atiku Abubakar, warning that
such dead-end opposition could be toxic for the nation’s democracy, if
left unchecked.
“Never in the history of politics in Nigeria has an opposition party and its presidential candidate exhibited the kind of desperate tactics being deployed by the duo of the PDP and its flag-bearer, especially since President Muhammadu Buhari overwhelmingly defeated Atiku to win the 2019 presidential election.… Read More...