...Changes Federal Ministry of Aviation to ‘Ministry of Aviation & Aerospace of Nigeria’.
ZAINAB JUNAID
The Federal Executive Council (FEC) has approved the sum of $4,713,841,477 for the development and expansion of multipurpose Port in Ilaje, Ondo state, Snake Island seaport in Lagos state and the Burutu seaport in Delta state respectively.
According to the details of the approval, Ondo Port will be developed through a Public- Private Partnership (PPP) arrangement with the sum of $1.48 billion total private investment on a concession term of 50 years period; Snake Island port Lagos, will be developed and expanded through the same PPP model to the tune of $974,185,203 on a concession term of 45 years period. the expansion and development of Burutu port, Delta state will gulp up a total sum of $1.2 billion private investment outlay with a concession term of 40 years period.
The FEC meeting was presided by President Mohammad Buhari while the Minister of Transportation, Alhaji Muazu Sambo presented the memo to the council for approval.
In a related development, the meeting which lasted several hours also saw to the review of name of Federal Ministry of Aviation to Ministry of Aviation amd Aerospace of Nigeria.
The development was said to be in line with current global realities in the aviation sector.
The Council also gave approval of a draft National Civil Aviation Policy, which was last reviewed in 2013.
No comments:
Post a Comment