The Federal Executive Council (FEC), led by President Bola Tinubu, convened on Monday, September 23, 2024, at the Council Chambers of the State House in Abuja......See Full Story>>.....See Full Story>>
This meeting marked the first since President Tinubu’s return from his recent foreign trips and was attended by ministers and other council members.
Key decisions made during the meeting were shared by the Special Adviser to the President on Information and Strategy, Bayo Onanuga:
The council reviewed the recent flooding in various parts of the country, particularly in Maiduguri, Borno State, where nearly 50 percent of the city was devastated. The FEC supported the President’s proposal to establish a Disaster Relief Fund, funded by a portion of the Federation Account revenue and private sector contributions.
A technical committee will be established to conduct integnrity tests on Alau Dam and other dams nationwide to prevent future disasters.
The council approved the Economic Stabilisation Bills, which incorporate recommendations from the Presidential Committee on Tax and Fiscal Policy Reforms. These bills aim to amend income tax laws, promote exports, reform the exchange rate regime, and provide tax relief for companies and individuals. The bills will be submitted to the National Assembly for passage.
Approval was granted for the construction of a 258 km three-lane carriageway with continuous reinforced concrete pavement in Kebbi and Sokoto states, as part of the 1,000 km superhighway from Illela, Sokoto State, to Badagry, Lagos State.
The council approved an increased contract cost for the Bodo-Bonny Road with bridges across the Opobo Channel in Rivers State, raising the project budget from N199.9 billion to N280 billion.