Abuja - The Federal Executive Council (FEC), has approved N48.7 billion for the construction of new corporate offices for the Nigeria Deposit Insurance Corporation in Abuja and Lagos and a training institute at Lekki.
It also approved N23.6 billion for the construction of roads.
The immediate past Supervising Minister of Information, Chief Edem Duke, made this known to State House correspondents after the Council meeting at the Presidential Villa in Abuja.
"Also today, the Coordinating Minister of the Economy and Minister of Finance, Dr Ngozi Okonjo-Iweala presented a recommendation to council for the construction of corporate head office for the Nigeria Deposit Insurance Corporation, the annex head office in Abuja, the Lagos office building in Ikoyi and its training centre in Lekki, Lagos.
"Of course you know the sensitivity of the work of the insurance corporation and this organisation has in the last several years been saving towards these projects and so, today when they brought it, the Federal Executive Council approved it after due consideration."
According to him, the construction of corporate head office annex of NDIC in Abuja will cost N14.7 billion, while the Lagos office will cost N24.7 billion, and the training centre N9.3 billion.
The minister disclosed that council approved N472.5 million contracts for the purchase and distribution of tricycles (keke) to beneficiaries in Benue West senatorial district as part of constituency projects in the area.
Also addressing correspondents on the outcome of the meeting, the Minister of Works, Mr Mike Onolememen, said council approved N23.6 billion for the dualisation of Suleja- Minna road in Niger.
According to him, council also approved N7.9 billion for the rehabilitation of Oshogbolu -Oweto in Benue and N7.1 billion for the reconstruction of Ningi – Mata across Bauchi and Plateau states.