Fed Govt Recovers N49.7bn Out Of N5.2trn Debt – Ahmed

The Minister of Finance, Budget and National Planning, Zainab Ahmed has disclosed that the Federal Government has succeeded in recovering N49.7bn out of its N5.2tn debt.

She was speaking on the council’s approval for the second phase of Project Lighthouse, which is a component that is meant to expand the debt recovery capability of the project.

Project Lighthouse, according to the minister, is a data engine that collects, integrates and analyses data from revenue generating agencies in order to create insightful information for improved decision making.

She said Messrs Carter House Consulting, a Nigerian technology company, who had worked with the ministry for three years, won the first phase of the contract in May 2019 and the second phase that was approved on Wednesday was in the sum of N316.5m.

The Minister of Aviation, Hadi Sirika, said the council approved contract for the provision of Airport Management Solution for the international airports in Abuja, Lagos, Kano, Port Harcourt and Enugu in the sum of N10,594,057,618.20 inclusive of 7.5 per cent Value Added Tax.

For the Ministry of Transportation, the council approved contract for the design, manufacture, supply testing and commissioning of one modular tamping machine in the sum of N639,150,932 for the use of the Nigerian Railway Corporation.

It also approved the award of contract for the procurement of one rig-stacker in the sum of N247,062,708 for the benefit of the National Inland Waterway Authority; contract for two power cars to be used on the narrow gauge by the NRC in sum of N1.66bn; and contract for the removal of wrecks along the Badagry Creek from Tin Can Island to Navy Town Lagos State in the sum of N3,587,955,266.40 for the benefit the National Maritime Administration and Safety Agency.