THE Federal Executive Council (FEC) has approved contracts for the rehabilitation/dualisation of four different highways spanning Kogi, Kwara, Bauchi, Plateau, Adamawa and Kano states at the sum of about N42billion. Similarly, Council authorised the hiring of tax consultants by the Federal Inland Revenue Service (FIRS), to explore ways to strengthen non-oil revenue collection where it hopes to earn N2.95trillion next year. The Council, presided over by President Goodluck Jonathan, in the State House, Abuja, on Wednesday, also gave the go-ahead for a new National Address Policy, which would ensure the standardised and consistent mode of marking streets and houses in the country. Briefing State House correspondents after the meeting, Minister of Works, Mike Onolememen, gave the roads to include the rehabilitation of Ilorin- Jebba (93.6KM long single carriage way) in Kwara State awarded in favour of Messrs CGC Nig. Limited in the sum of N14, 587,233, 292.17 with completion period of 24 months. Council approved the award of contract for the rehabilitation of Mubi- Maiha- Sorao- road with spur from Mubi-Bukula in Adamawa State in favour of Messrs De- Pacific Investment Limited, in the sum of N2,997, 940, 010.26 with a completion period of 18 months. FEC approved the award contract for the rehabilitation of Ilorin-Omuaran-Kabba road in Kwara/Kogi states in the sum of N8,217,373,106.17 with a completion period of 36 months just as it approved the award of contract for the dualisation of Kano-Katsina road phase 1: Kano town at Dawanau roundabout, Katsina State border in Kano State in the sum of N14,078,252,565.88 with a completion period of 30 months. Another contract approved in the sector was for the rehabilitation of Tumu-Pindiga-Kashere (Gombe State)- Futuk-Yalo (Bauchi State) Bashar-Dengi (Plateau State road: construction of Yalo-Bashar-Dengi Section) in Bauchi State/Plateau State, in the sum of N3,076,381,622.74 with a completion period of 18 months. Also at the briefing, Minister of Information, Labaran Maku, joined by his counterparts, Ngozi Okonjo-Iweala (Coordinating Minister for the Economy) and Omobola Johnson (Communications Technology), said the completion of the road projects would enhance transportation and socio-economic activities in the affected areas. Following a memo presented by Okonjo-Iweala, FEC gave approval for ratification of the presidents anticipatory approval of a contract for the provision of technical support to the FIRS for Nigerias non-oil revenue enhancement and capacity building. The Coordinating Minister for the Economy, who noted that the essence of the contract was to assist the FIRS to increase non-oil tax revenue, revealed that it was awarded in favour of Messrs Mckinsey & Company in the sum of N1,470,000,000.00 inclusive of all taxes equivalent to $8,750,000.00 with a completion period of 12 months. The minister pointed out that the study conducted by FIRS revealed that more that 65% of registered companies in Nigeria do not pay tax thereby causing the country huge revenue loss. She added that the Federal Government planned to move the tax ratio to Gross Domestic Product (GDP) from its present 7% to 22%. Okonjo-Iweala assured that the new tax drive was not about tax increase but recovery of money due to government, noting that it would therefore not impact negatively on the ordinary people most of whom she observed were exempted from tax.
Posted on: Fri, 29 Nov 2013 00:10:12 +0000
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