The Nigerian cabinet has approved the sum of N27 billion for the rehabilitation of a 27 kilometre road linking Ondo and Edo States, South-West Nigeria.
Minister of Information and Culture, Lai Mohammed revealed this to State House Correspondents at the end of the cabinet meeting chaired by President Muhammadu Buhari.
He said: “The Minister of Works and Housing presented a memo for the approval of the award of contract for the rehabilitation of the Iduani-Otuwo road which links Ondo and Edo States. The contract is for the sum of N27, 233, 577, 000 billion and it has a completion period of 27 months.”
Minister of Industry, Trade and Investment, Niyi Adebayo also informed Journalists that the council gave approval for the second phase of the National Sugar Master Plan which started in 2012.
He said the council approved the commencement of the 2nd phase from 2023-2033 for another period of ten years.
“In 2012, the 1st phase of the sugar master plan was approved lasting for 10 years till 2022. Today the council approved the extension from 2023-2033 and the whole idea is for the development of the sugar industry, aimed at self-sufficiency in sugar production,” he stated.
Adebayo said the plan has several policy measures and fiscal incentives to stimulate demand and attract private sector investment in the sugar industry.
He added that four major investors participated in the 1st phase of the plan, creating 15, 00 jobs in the process with about 200 hectares of land acquired by them for the production of sugarcane to boost local production of sugar.
