The Federal Executive Council has approved a N7.1 billion contract for the construction of an interchange and a pedestrian bridge at Abaji town, a suburb of the Federal capital Territory, Abuja.
Minister of Power, Works and Housing, Babatunde Fashola revealed this to Journalists while briefing them on the outcome of this week’s cabinet meeting, presided over by President Muhammadu Buhari.
He said: “My ministry presented two memos, one was for the construction of an inter-change and pedestrian bridge at Abaji in Abuja for N7.197 billion to address the perennial problem of accidents in that place which was approved by Council.
“The second memorandum was for the procurement of 200, 217 meters by Yola Electricity Distribution Company under the Meter Asset Providers Scheme. As you might know, Yola Electricity Distribution Company is the DISCO that was surrendered to government by the original holder.
“So it’s under the Federal Government’s management. So they are buying 200,217 meters for consumers under their franchise which covers Adamawa, Borno, Taraba and Yobe States.
“The cost of those meters is N11.208 billion. It is to be funded from the judgement sum that I previously briefed you about two years ago that Council approved a compromise from an old meter’s supply dispute since 2003.
“So that money is in a bank, it has been there, so that is where these meters would be funded from and as consumers pay for the meters as they are supplied, the money goes back into that account,” Fashola explained.