The Federal Executive Council has approved a refund of N16.7 billion to the Borno State Government for road projects executed by the State government on behalf of the Nigerian government.
Spokesperson for the Vice President, Mr Laolu Akande disclosed this while briefing State House Correspondents at the end of this week’s meeting of the Council presided over by President Muhammadu Buhari.
Akande said a debt sustainability analysis would be carried out by the Debt Management Office and approval obtained from the National Assembly before the money is paid to the State government.
He said: “Council approved the President’s memo for the reimbursement of funds spent by the Borno State government for federal road projects in the total sum of N16,772, 486.19 which will be processed after a debt sustainability analysis has been carried out by the Debt Management Office (DMO), leading to the issuance of debt instrument and promissory notes in the same value to be approved by the National Assembly.”
The Minister of Science, Technology and Innovation, Adeleke Mamora, who also briefed Journalists, announced that the Council approved a National Technology Action Plan for Climate Change Mitigation and Adaptation in Nigeria’s most vulnerable sectors.
He said due to the devastating effects of climate change, it has become necessary for nations to start taking actions geared towards mitigation and adaptation and Nigeria cannot be left behind.
PIAK
