The Federal Executive Council (FEC) has approved ₦28.1 billion for the expansion of road and infrastructure projects in Wasa District in Abuja.
The approval was given by the council on Wednesday during a meeting presided over by President Muhammadu Buhari in Abuja.
Speaking to journalists after the meeting, FCT Minister Mohammed Bello explained that the augmentation was a result of inflation, which had surpassed the initial approval of ₦56 billion for the Wasa district projects.
“The initial contract for that project was awarded in 2014 at the sum of ₦56 billion but as time went by and due to inflation and some other factors, we had to vary the contract and the price to reflect current realities and that is the reason why the augmentation request was presented to council and council approved,” he said.
Bello stated that the total project cost was ₦85 billion, with a 42-month completion period.
The council also ordered the purchasers of two seized properties in Lagos to pay the government the prevailing price at the time the properties were purchased in 2001.
The minister of works and housing, Babatunde Fashola, stated that ₦18 million and ₦20 million would be paid for the Lagos-based properties previously purchased for ₦5 million and ₦2 million, respectively.
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