FEDERAL ROAD PROJECTS: THE FEC APPROVES A N16.7 BILLION RETURN FOR THE BORNO GOVERNMENT

A few months after instructing states not to intervene in federal roads in their jurisdiction, the Federal Government granted a N16.7 billion return for the Borno State Government for road projects completed on its behalf.

The permission came from the Federal Executive Council (FEC), which met on Wednesday at the State House in Abuja and was chaired by President Muhammadu Buhari.

Laolu Akande, Senior Special Assistant on Media and Publicity to the Vice President, revealed this while summarizing some of the memos received for consideration.

He explained that the Debt Management Office would conduct a debt sustainability analysis, and that authorisation from the National Assembly would be needed before the money was restored to the state government.

"Council graciously 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," he told State House correspondents.

Recalls that the Minister of Works and Housing, Babatunde Fashola, had directed states to refrain from such interventions because the Federal Government would not offset such expenses.