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.

Col. Adedipe     David Oyedepo     Saeedat Aliyu     Nurudeen Mohammed     Shehu Alimi Foundation For Peace And Development     Babata     Kwara State Internal Revenue Service     IF-K     Wahab Olasupo Egbewole     Amina El-Imam     Bola Magaji     CUTI     Lithium Deposit     Ibraheem Abdullateef     Bola Ahmed Tinubu     Chief Of Staff     Ojuekun Sarumi     All Confederation Of Principals Of Secondary Schools     Maimunat Oloriegbe     Binta Abubakar-Mora     Abdulhakeem Amao     Ahmad Olanrewaju Belgore     Chikanda     Suleiman Mora Omar     Ilorin Amusement Park     Ajidagba     Mogaji Aare     Jani Ibrahim     Sola Saraki Educational Foundation     Yahaya A Paniyaro     Yusuf Lanre Badmas     Oloye     Salihu S. Yaru     Ajia-Bako     Umar Saro     ER-KANG Mining Nigeria Company Limited     Ganiyu Taofiq     Damilola Yusuf Adelodun     Al-Ilory     Siraj Oyewale     Women For Change And Development Initiative     Okanlawon Musa     SWAN     Kolawole Bashirat     Mahmud Durosinlohun Atiku     Suleiman Alege Kuranga     Abdulquowiyu Olododo     Umar Bayo Abdulwahab     Mohammed Saidu     Ilesha-Baruba-Gwanara     Adisa Logun     Colleges Of Education Academic Staff Union     Abdullahi Atanda     Noah Yusuf     Surajudeen Akanbi     Saad Belgore     Valsolar-Kwara Company Limited     Musbau A. Akanji     Okala Baba     Isapa     Olam Food Ingredients     Kwara State Football Association     Alapansapa     Col. Taiwo     Kayode Ishola     Ogidi-Oloje     Chief Imam Of Offa     Haliru Dantoro     Alimi     Tosin Saraki     Pilgrims Board     College Of Health     Abdulfatai Ahmed     ASMAU PLAZA     Minimum Wage     NURTW     Kamaldeen Kehinde    

Cloud Tag: What's trending

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

Yakub Lai Gobir     AbdulRahman Saad     Saliu Shola Taofeek     Christian Association Of Nigeria     Amuda Bembe     Ilorin West     Olajumoke Monsura Gafar     Oye Tinuoye     Suleiman Alege Kuranga     High Court     Cassava Growers\' Association     Kazeem Gbolagade     Illyasu Abdullahi     Ayinke Saka     Kwara State Sports Commission     Mohammed Kamaludeen     Ahmed Saidu Rufai     Bello Abubakar     Abdulkadir Remi Hawawu     Ambassador Kayode Laro     Nigerian Army     Michael Nzwekwe     Saidu Kawu     Mohammed Saidu     Oba Mogaji Abdulkadir     National Party Of Nigeria     Umar Ahmed Gunu     Simeon Sayomi     Road Transport Employers Association Of Nigeria     Dele Momodu     Young Progressives Party     Bello Oyedepo     Isapa     Olaoye B. Felix     Hydro-electric Power Producing Areas Development Commission     Dauda Adeniran Adeshola     NYSC     Ilorin General Hospital     Amusa Bello     Ubandoma Of Ilorin     Towobola Abdulrahman Toyin     Abdulkadir Jimoh     Eleja     Adaramaja     Oluwole Dupe     Ilorin Emirate Staff Association     Hamid Bobboyi     Owode Market     Abdulrazaq Magaji     Shuaib Abdulkadir     Saliu Ajia     Kunle Akogun     Laolu Saraki     Kehinde Baale     Oja-Oba     Siddiq Adebayo Idowu Salawu     Sidikat Alaya     Lithium     Afolabi-Oshatimehin     NIPR     Ahmed     AbdulRazaq Abubakar Jiddah     Neo Mundo Ltd     Muhammad-Mustapha Suleiman     Dapo Teni Nig Enterprise     CBT     Oyin-Zubair     Abdulmalik Bashir Mopelola Risikatullahi     Abubakar Olusola Saraki     Taofik Abiodun Ahmed     Aminat Ahmed     Ibrahim Oniye     Kwara State Television (KWTV)     Haliru Yahaya     Muyiwa Oladipo Kanu     Henry Olaosebikan     Abraysports FC