The Federal Executive Council on Wednesday approved N47.2bn to boost power supply in the country.
The Minister of Power, Mr. Sale Mamman, said the additional funds would supply another 40megawatts of power to the National Grid.
Speaking with State House Correspondents after the virtual FEC meeting on Wednesday, Mamman said that the 40 megawatts would be moved from the Kashimbilla Dam in Taraba State.
He stated, “The council approved the ministry’s memo for the revised estimated total cost for the augmentation of the subsisting contract in the sum of N4, 235, 303, 821.90, to provide additional 40 megawatts, currently being generated from Kashimbilla, via Takum, Wukari and Yandev, to the national grid.”
The minister listed states in the North-East and Benue State as the beneficiaries of the 40megawatts when evacuated.
Mamman added that the country could lose up to120 Gigawatts of power or $9m in a year, if the energy was not evacuated from the dam.
The FEC also approved a separate N683m for the Nigerian Ports Authority.
According to the Minister of Transportation, Mr. Rotimi Amaechi, who told journalists at the State of the approval, said the money would be use for the procurement of 19 operational vehicles.
He added that it was the first time the NPA would buy vehicles in the last four years money is for the procurement of 19 operational vehicles.
He said, “The council kindly approved the sum of N683, 613, 000 for the purchase of 19 vehicles for NPA.
“This is the first time in four years that the NPA is buying any vehicle. That is why the Council considered and approved it.
“These are operational vehicles not for management staff or any other thing. They are all Toyota vehicles.”