Projects: FG Approves $1bn Loan From China Exim Bank - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (F.BA)
May 16, 2019
The Federal Executive Council, FEC has approved the financing of the Gurara Hydro Power Project-2 by the Forum on China-Africa Cooperationto the tune of one billion dollars.
The Minister of Water Resources Suleiman Adamu said this when he briefed State House correspondents at the end of the council’s meeting, which was presided over by President Buhari.
According to the Minister, the Gurara-2 power project has the potential of three hundred and sixty Megawatts of electricity. He said the Council also approved a revised cost of the project to five point seven billion naira for the completion of Nkari Dam in Akwa Ibom State.
The Minister of Agriculture and Natural Resources  Audu Ogbe, who also briefed the correspondents on the outcome of the meeting, disclosed that the council approved nine point four billion naira for the purchase of grains which would be stored in Silos across the country.
Also The Minister of Power, Works and Housing, Babatunde Fashola, also revealed that the council approved seven point one nine seven billion naira for inter-change and pedestrian bridge at Abaji in Abuja.