THE Federal Executive Council approved, on Wednesday September 14, the sum of N28,117,904,027 for the augmentation of cost for road and other infrastructural projects in Wasa District of the Federal Capital Territory (FCT), Abuja.
The FEC gave the approval in a meeting presided over by President Muhammadu Buhari in Abuja.
The FCT Minister, Mohammed Bello, addressing the media after the meeting, said the augmentation was a ripple effect of inflation, which had overtaken the initial approval of N56 billion for the Wasa district projects.
Bello said, “Council augmented the cost of the project to be completed in 42 months by N28,117,904,027, from the sum of N56,925,048,940.98 approved in 2014 to a new contract figure of N85,042,952,967.98 . The district has a total area of 367.11 hectares.”
He noted that more than 35 per cent of the project had been executed.
The minister added that the contractor had received the first part of the mobilisation fund and that work was currently going on.