The Federal Executive Council (FEC) has approved the N3.2 billion for the construction of a zonal office of the Nigerian Deposit Insurance Corporation (NDIC) in Bauchi state.
The council also approved N2.4 billion for consultancy services for the NDIC.
This was disclosed by the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, at the end of the weekly FEC meeting presided over by Vice President Yemi Osinbajo in Abuja.
“Today, Ministry of Finance Budget and National Planning presented two papers to council, the first paper that we presented and council approved was for the construction of the Nigerian Deposit Insurance Corporation NDIC in Bauchi.
“The contract approval is in the sum of N3, 239, 747, 882 including Value Added Tax VAT. This project is to be completed in 96 weeks. We have since sought and gotten the necessary approvals from the Bureau for Public Procurement BPP,” she said.
The minister said the NDIC zonal office in Bauchi has been operating in a rented office accommodation which has since become unconducive for a good working environment.
She said the corporation would be saving money when the new office is completed and that will provide a comfortable and clean environment for its workers as well as boost staff morale and increase their efficiency.
Ahmed also disclosed that a different contract of N2.4 Billion was approved by cabinet for consultancy services for the NDIC.
She said the money would cater for 12 consultancies for the construction of the NDIC Head Office annex in Abuja, its office in Ikoyi Lagos and NDIC training centre in Lekki-Lagos.
“In 2015, the Federal Executive Council had approved the construction of these three buildings. So, what we are asking for now is for the stage three which is for consultancies relating to architecture, structural and mechanical engineering.
“The total amount that is approved is the sum of N2, 489, 490, 765. 08 including VAT. This is for 12 consultancy firms for three different categories of professional work for the three office buildings,” she said.
Also speaking, the Minister of Aviation Minister, Mr Hadi Sirika said the council approved N574 million for special risk insurance for the assets of the College of Aviation Technology Zaria.
“Today in Council we considered two memoranda from the Ministry of Aviation and the first was for a special risk insurance for the assets of the College of Aviation Technology Zaria and this includes the personnel that will be manning those machines and its for the sum of N574, 311, 407.43, which included VAT of five percent to cover from 10th June 2019 to 2022 but yearly payments will be made in accordance with the extent laws regulations,” he said.
He said the council also approved the funds for the perimeter fencing and road for the Portharcourt International Airport in Rivers state.