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.

Abdullahi Adisa Akodudu     Tunji Folami     Ibrahim Orire     Idris Garuba     Orisa Bridge     Toun Okewale-Sonaiya     Freshvine Nigeria Limited     Taofeek Sanusi     Saka Isau     Isaac Gbenle     Iyiola Oyedepo     Kubra Kazum     SWAN     Farouk Salim     Kwara Politics     Salihu Ajia     Sheu Ndanusa Usman     Sobi FM     Olatunji Moronfoye     Gobirawa     Mufutau Gbadamosi Esuwoye     African Democratic Congress     International Public Sector Accounting Standards     Busari Toyin Isiaka     CCB     Elelu     Special Agro-Industrial Hub     Kwasu     Kabir Shagaya     Abdulhakeem Amao     Issa Memunat Moyosore     Mogaji Aare     Ojo Isekuse     Dapo Teni Nig Enterprise     Isau     John Kehinde Salako     Adolescent Girls Initiative For Learning And Empowerment     Clement Yomi Adeboye     Yakubu Gobir     Dauda Adesola     Isiaka Alikinla     A.E. Afolabi     Ajike People Support Centre     Ilorin Descendants Progressive Union     Erin-ile     Ilorin.Info     Damilola Yusuf     Sa\'adu Gambari     CUTI     Yahaya Dumoye     Lucky Omoluwa     Abdulrahman Abdullahi Kayode     Kishira     Nigerian Medical Association     Zubair Folorunsho Erubu     Ronke Adeyemi     Shuaibu Yaman     Umar Saro     Lafiagi     Ayekale     Tunde Mukaila Mustapha     Abdullah Janet Amudat     Ilorin Water Reticulation     Yakubu Mohammed Abdullahi     Zaratu Umar     Kwara State Government     Fatimoh Lawal     Gbemisola Oguntimehin     Kale Kawu     Matthew Okedare     Tunde Yusuf     Egbewole     SARS     Afolabi-Oshatimehin Adenike Harriet     Hassan Saliu     Oyedun Juliana Funke     Amule Elementary School    

Cloud Tag: What's trending

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

Adisa Logun     SGBN     Volunteers Of Ilorin Community And The Emirate     Kwara Volleyball Association     Kwara State Fish Farmers Association     Olatunji Abdulmumeen     Hakeem Lawal     Ahmed Dankaya     Medview Airlines     Ilorin Airport     Gbenga Adebayo     Olushola Saraki     Gbemisola Oguntimehin     Atiku Abubakar     Alapado     Yaman     Harafat E. Mukadam     Adamu Jemilat-Baki     Ibrahim Issa Jetti     Ojo Isekuse     Gani Saadu     Joseph Daudu     Peculiar Allowance     Olayinka Are     Eruku     Kwarareports     Yusuf Lawal     Yahaya Abdulkareem     Elewu     Adekunle David Dunmade     Donatus Ejidike     Government House     Bola Sagaya     Manzuma     Computer Based Test     Tanke Flyover Bridge     Government Girls’ Day Secondary School Pakata     Just Event Online     Bature Bello     Najim Yaasin     Abraysports FC     National Democratic Congress     Abdulwahab Olarewaju Issa     NNPP     Yeketi     AbdulRazaq Abubakar Jiddah     Yaru     Muyideen Ajani Bello     Ethical College     Ilorin International Airport     Biliaminu Aliu     Ojuekun     TVC Female National Debate     Wahab Femi Agbaje     Elerin Of Adanla Irese     Lukman Oyebanji Fagbemi     Mumini Ishola Hanafi     Olatunde Oyeyiola     Samuel Adedoyin     Lola Olabayo     Adeniyi Ojo     Barakat Community Secondary School     Timothy Akangbe     Shuaibu Yaman     Tafida Of Kaiama     ASUU     Kwara State Polytechnic     Aishat Sulu-Gambari     Oke-Oyi     Saad Omo\'ya     Falokun-Oja     Old Oyo     Durbar Festival     Ilorin South Constituency     Isaac Gbenle     HYPPADEC     Niguel Gallando Marcias