The Federal Executive Council, FEC has approved 1.9 billion dollars for the procurement of equipment for the nation’s power sector to boost power supply across the country, through the Presidential Power Initiative.
Minister of Finance, Budget and National Planning, Zainab Ahmed made this known, when she briefed State House correspondents on the outcome of the Council meeting, presided over by President Muhammadu Buhari.
He also highlighted that part of the money will be used for the procurement of mobile equipment for the transmission of power across the country.
Minister of Communications and Digital economy, Isa Pantami, also said the Council approved a bill known as Nigeria Start-Up Bill, for onward transmission to the National Assembly for passage into law.
According to him, the bill intends to encourage young entrepreneurs in the country that have skills and want to do business in the telecommunications sector.
