FEC Approves $400 Million Loan For Developmental Projects

The Federal Executive Council (FEC) has approved loan facilities to the tune of over $400 million for various development projects across the 36 states of the federation.

Minister of State for Finance, Mr Bashir Yuguda, told State House Correspondents after the council meeting that the loan approvals were part of the Goodluck Jonathan administration’s commitment to better the lives of Nigerians in line with the transformation agenda.

Also approved by the FEC is the establishment of nine new private universities across the country.

They are Augustine University, Iloran, Lagos State, Chrisland University, Owode, Ogun State, Christopher University, Mowe, Ogun state, Hallmark University Ijebu Itele, Ogun State, Kings University, Odeogun, Osun State.

Others are Micheal and Cecilia Ibru University, Orode, Delta State, Mountain Top University, Makogi Oba, Ogun State, Ritman University, Ikot Ekpene, Akwa Ibom State, Summit University, Ofah Kwara State.

This was disclosed to State House correspondents by the Minister of Aviation, Mr Osita Chidoka after the council meeting.

The FEC also approved the contract for the award of contract for consultancy services and construction works of the head office complex and ancillary facilities of the Nigerian Content

Development and Monitoring Board in Yenegoa, Bayelsa, for the sum of N27.1 billion.