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Business News of Thursday, 21 May 2020

Source: MyNigeria

FEC okays N623.7m to be spent by Customs on computers

FEC Meeting FEC Meeting

The sum of N623.7m was approved for the Nigeria Customs Service to buy computers for its zonal and area commands by the Federal Executive Council.

The council also approved N2.92bn for the construction of the Nigerian Oil and Gas Parks Scheme at Odukpani in Cross River State.

Messrs Kinetic Electro-Mechanical Limited benefitted from the contract, according to the Minister of State for Petroleum Resources, Mr Timipre Sylva, who sought the approval of FEC for the project.

It is meant to provide additional infrastructure for the manufacturing of oil and gas components for the sector.

It is also to “boost capacity in the oil and gas sector; provide job opportunities for Nigerians and boost economic activities in the Odukpani area of Cross River state.”

FEC also approved $454,050 for sea-time training for the Nigerian Seafarers Development Programme.

The training is for cadets onboard foreign-going vessels by the Nigerian Maritime Administration and Safety Agency.

The consultancy contract was awarded to Messrs SWETS Marine Consultancy and target at preparing “1,000 idling Nigerian seafarers that have graduated but have yet to obtain requisite certificate of competency required of them, so as to be gainfully employed as officers and masters on board ships.”

In the 2019 budget, N1.38bn was approved for the project, while in the 2020 budget, it received another N1.008bn.

It was the second virtual FEC meeting presided over by the President, Major General Muhammadu Buhari (retd.), amid the raging COVID-19 pandemic.

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