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FEC approves N9.6bn refund to Plateau, Borno states for federal road project

Published

3 years ago

February 2, 2023

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The Federal Executive Council (FEC) of Nigeria on Wednesday, approved the refund of N6,601,769,470. 99 billion to Plateau and Borno states as funds expended on federal roads, which fell within the period before the federal government put a stop to such interventions.

The Minister of Works and Housing, Babatunde Fashola, disclosed this while briefing State House correspondents at the end of the weekly Council meeting, presided over by President Muhammadu Buhari at the Council Chamber, Presidential Villa, Abuja.

Fashola said the ministry presented two policy memoranda for the government to provide refunds to state governments for previous interventions on federal government roads, subject to the July 26, 2016 cutoff, after which reforms would no longer be eligible.

He said that the two states which had outstanding with respect to eligible roads were Plateau and Borno states and Council approved the refund of N6,601,769,470. 99 billion for Plateau State, and the sum of N3,084,787,113. 34 billion for Borno State, bringing the total approval to N9,686,556,583 billion.

The second memorandum, according to the minister, was seeking to inform Council about the commencement of a procurement process for a Central Clearing House for the operations of toll plaza concessionaires.

Fashola recalled that previous administrations had canceled the operation of toll plazas on grounds of lack of transparency, amongst other reasons, adding that the present administration has resorted to the restoration of tolling.

He said, “We presented two policy memoranda. The first was with regard to the policy of the government to provide refunds in any form to state governments for previous interventions on federal government roads, subject to the July 26, 2016 cutoff, after which reforms would no longer be eligible.

“So the two states who had outstanding with respect to eligible roads were Plateau and Borno states and Council approved the refund of N6,601,769,470. 99, in favor of Plateau State, and the sum of N3,084,787,113. 34 for Borno State”, he disclosed.

He further disclosed that his ministry sought and got the approval from Council to hire the services of a private sector operator, who would work with the federal government to build a central clearing house for the operations of toll plaza concessionaires, at his own expense, operate it, recover and then ultimately transfer back to the government.

“Two weeks ago, we also approved the full business case for the concession of nine federal roads, which will include the concessionaire’s completion of those roads and also tolling operations, ambulance services, vehicle recovery services, and so on.

“Now, this process we sought and obtained approval to start is to get a private sector operator to work with us to build a central clearing house at his own expense, operate it, recover, and then ultimately transfer back to the government.

“What a central clearing house will do is that it would synchronize interoperability between different toll systems that will be used by different concessionaires when they commence their tolls and also provide a one-stop accounting system and a single payment recovery system where everybody is paid at the end of the operations and also provide visibility for government to see what is going on in the operations of each concessionaire”, he explained

Also speaking at the briefing, Minister of Industry, Trade, and Investment, Otunba Niyi Adebayo, said Council approved an N1,803,556,537 contract for the construction of a package sewage system for the authority’s head office within the Liberty Free Zone in Akwa Ibom State.

He said, “My ministry brought a memo on behalf of the Oil and Gas Free Zones Authority, which is a parastatal under our ministry, as part of its responsibility of regulating and attracting foreign direct investments into the country is supervising certain oil and gas free zones in the country and one of which is the Liberty Free Zone in Ikot Abasi, Akwa Ibom State.

“To this end, they sought Council’s approval for the award of contract for the construction of a package sewage system for the authorities head office within the Liberty Free Zone in Akwa Ibom State, in the sum of N1,803,556,537.95, inclusive of 7.5% VAT, with the completion period of 10 months, without variation and Counsel graciously approved the award of the contract”, he said.

Minister of Education, Mallam Adamu Adamu, disclosed that Council approved a total sum of N4,078,903,692 for three contracts in the Osun State University, Osogbo; the Federal University, Lokoja, and National Commission for Nomadic Education.

The Minister also disclosed that Council approved the memorandum that sought the takeover of the David Umahi University of Medical Sciences, Ebonyi, by the federal government, as well as the change of the name of the institution from David Umahi Federal University of Health Sciences.

“We presented four memos, three of them were contracts. The first is for the construction of the Senate Building in Osun State University, in Osogbo. This is at a cost of N2,134,686,307.88, with a completion period of 76 weeks and the contractor is WAZLAF Engineering Limited.

“Second one is another Senate Building. This one is at the Federal University, Lokoja and it is at the cost of N1,607,471,754.77, with a completion period of 50 weeks the contractor for the project is Amber Bliss Nigeria Limited.

“The third one is a contract for the erection of a radio antenna for the National Commission for Nomadic Education. It is a 50 kilowatt AM radio and the contractor is ECALPEMOS Technologies Limited and the contract sum is N336,745,631.70. The completion period is 14 weeks.

“The last one is a memo for the takeover of David Umahi University of Medical Sciences, Ebonyi, by the federal government. What we brought in the memo is for Council to ratify the agreement that has been entered between the Ebonyi State government and the federal government and then to approve the renaming of the university from David Umahi University of Medical Sciences to David Umahi Federal University of Health Sciences and to approve a draft bill, which has been written, and then to approve the transmittal of this bill to the National Assembly for enactment into an Act”, he said.

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Academics, economists, others discuss African development at AFEA 2026 conference

Published

16 minutes ago

July 9, 2026

Preport

Policy experts, academics, and researchers have stated that strong public policy implementation and debt management can drive good governance in Africa.

They made these remarks during the just-concluded African Finance and Economics (AFEA) 2026 conference, held in Abuja from 3 to 5 July.

Speaking to PREMIUM TIMES, Evans Osabuohein, a professor of economics, said that the discussions at the event focused on public policy and debt management, which are affecting human capital development in Africa.

“It [is] about how public debt can be managed more efficiently in Africa, so that we can tap into the resources for human capital and energy efficiency in this age of innovation. We need human resources that are well-skilled, equipped, and knowledgeable to harness such potential that technology like artificial intelligence present today,” he said.

“Debt is not bad in itself; the issue is when debt is borrowed but is not used for capital investment, the servicing of debt becomes a burden. We have seen this in most African countries where some of the borrowings are not geared towards human capital development.”

Mr Osabuohein, a board member of AFEA, explained that it would be a win-win option for both governments and citizens if public debt is used judiciously, saying that the execution of projects translates into employing the populace to do the labour.

More details

The three-day international conference, hosted by Nile University Abuja’s faculty of arts and social sciences, brought together scholars, policymakers, and industry experts in the field of economics.

**A collage of AFEA and Nile University Abuja logos**

Themed ‘Africa’s Geoeconomic Development Agenda in a Global Realignment Era’, it sought to contribute expert input on shifting geopolitics, climate risk, and development finance across the continent, and drew attendees from Canada, Ghana, Nigeria, and other countries.

Emotimo Agama, director-general of the Securities and Exchanges Commission (SEC); Tope Fasua, an economic adviser to President Bola Tinubu; Tony Okpanachi, managing director of the Development Bank of Nigeria, among others, made up the line-up of dignitaries for the event.

Premium Times monitored breakout sessions at the programme, where participants presented papers on topics including debt sustainability, global financial and health governance systems, digital service delivery, mobile money, financial inclusion, and continental digital markets.

Some sessions also focused on youth, gender, demographic change, and inclusive development; as well as migration, urbanisation, and spatial inequality, with a broad focus on Africa-West relations.

The sessions featured interactive discussions for each paper presenter, including how their research work could be further enhanced.

Participants speak

Abogede Marietu, a PhD candidate of economics at Nile University, described the conference as impactful, adding that it has given her opportunities to learn from scholars in her field.

**Participants exchanging ideas at one of the sessions at the conference. (PHOTO CREDIT: Mohammed Taoheed/Premium Times)**

“Today is actually my first time presenting my work at an international conference, and I think that gives visibility to my work. I have also got to learn from other presenters.”

“It is my earnest desire that the government in Africa would look into the policies that myself and other presenters have come up with, so as to improve the economy, and also aid the livelihood of the citizens of the continent,” she said.

READ ALSO: Africa must act before deep-sea mining becomes a new battleground

Another paper presenter, Ropheka Bot, stated that she found the discussions in the conference “very timely and engaging as experts gathered to discuss current global issues”

Mrs Bot, a lecturer at Bingham University, Karu, said she hopes that governments in Africa would implement some of their research findings to improve development on the continent.

About AFEA

The African Finance and Economics Association (AFEA) is a professional forum for academics and practitioners (government and industry) of finance, economics, and related disciplines interested in the development of Africa.

It seeks to empower the continent through financial growth and sustainable development, with a mission to promote the exchange of information and ideas among professionals and stakeholders in the field while fostering research that advances knowledge on contemporary African development issues.

With Majune Socrates as its president, Gbadebo Odularu sits as the chairman of the board for the organisation.

News

Watch | Karl Toriola: MTN Nigeria is doubling down on fintech, fibre broadband – Technology Times

Published

18 minutes ago

July 9, 2026

Preport

MTN Nigeria is positioning fintech and fibre broadband as two of its most important growth pillars.

At MTN Capital Markets Day 2026, CEO Karl Toriola outlined how the telecoms company plans to deepen financial inclusion through digital financial services while accelerating fibre-to-the-home (FTTH) deployment to meet rising demand for high-speed broadband.

The strategy reflects the changing dynamics of Nigeria’s telecommunications market, where operators are increasingly competing on digital ecosystems, home connectivity, enterprise services and fintech innovation.

“Over the past several years, we have consistently maintained between 50% and 52% market share, and we have defended that position robustly,” he explains. “We also continue to hold the majority of Nigeria’s 4G market, maintaining between 56% and 58% market share.”

In this presentation from MTN Capital Markets Day 2026, he discusses:

MTN Nigeria’s fintech growth strategy
Expansion of fibre-to-the-home (FTTH)
Mobile money and digital payments
Financial inclusion initiatives
Broadband infrastructure investment
Competition in Nigeria’s telecoms market
The future of digital services

FAQ: MTN Nigeria telecoms expansion plans

Q: What are MTN Nigeria’s key growth priorities?
A: MTN Nigeria is prioritising fintech, fibre-to-the-home broadband, digital services and financial inclusion to drive long-term growth.

Q: Why is MTN Nigeria investing in fibre-to-the-home?
A: The company is expanding FTTH to meet growing demand for reliable high-speed internet from homes, remote workers, SMEs and digital businesses.

Q: How does fintech fit into MTN Nigeria’s strategy?
A: MTN Nigeria sees fintech as a major growth engine, expanding mobile money, digital payments and financial services to deepen customer engagement and diversify revenue.

Q: What challenges did MTN Nigeria identify?
A: Karl Toriola highlighted intense competition, evolving customer expectations and the need for continued investment in digital infrastructure, broadband and fintech capabilities.

Q: What was announced at MTN Capital Markets Day 2026?
A: MTN Nigeria outlined its strategy to accelerate fintech growth, expand fibre broadband, strengthen digital services and reinforce its leadership in Nigeria’s telecommunications market.

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FEC approves N9.6bn refund to Plateau, Borno states for federal road project

News

FEC approves N9.6bn refund to Plateau, Borno states for federal road project