The Federal Executive Council approved different contracts totalling about N120.7bn at its weekly meeting held on Wednesday.
The contracts included those of roads, application software for the Federal Mortgage Bank, operational vehicles for the Nigeria Immigration Service and irrigation projects.
The decision was taken at a virtual meeting presided over by the President, Major General Muhammadu Buhari (retd.), from the Council Chamber of the Presidential Villa, Abuja.
The Minister of Works and Housing, Babatunde Fashola; Minister of Interior, Rauf Aregbesola; and Minister of Water Resources, Suleiman Adamu, briefed State House correspondents at the end of the meeting.
Fashola said the council approved projects totalling N117.48bn for his ministry as contained in the three memoranda he presented.
He said while two of the memoranda were on roads and bridges, the third was for a banking application software for the Federal Mortgage Bank.
The minister listed the affected roads as cutting across Kano, Jigawa, Katsina, Anambra, Enugu, Cross River, Benue, Abia, Zamfara and Kebbi states among others.
He added, “The third memo was for the procurement of a core banking application software for Federal Mortgage Bank in the sum of N487.3m for Messers FINTAX software to enable the bank to provide all the frontline services that other banks now provide across its branches nationwide.
“Unlike other banks, the Federal Mortgage Bank is still unable to send automated notices, statements and all of those to national housing fund contributors.
“This application will now enable the bank to provide those kinds of services and do a lot of automation and reconciliation loan and credit processing when fully installed.”
Aregbesola said the council approved a contract for the furnishing of the Data and Communication Command and Control Centre of the Nigeria Immigration Centre at the cost of N2.1bn.
“Council approved the procurement of operational vehicles to enhance efficiency in the service for those who have been recently promoted in the Nigeria Immigration Service, Comptrollers, Assistant Comptroller Generals, Deputy Comptroller Generals as well as patrol vehicles.
“The council approved procurement of 44 operational vehicles at total contract sum of N768.07m,” he added.
Adamu said the council approved memorandum which sought the award of contract for the revised cost for an extension of time of the consultancy services at Tadasungai Irrigation project in Kwara State.
The Minister said the council also approved the award of contract for a dedicated power line for middle Ogun Irrigation Project Phase I which is in Iseyin in Oyo State.
He explained that the irrigation system used to be powered by diesel generators, “but because of deregulation and with diesel it has become so expensive and not sustainable.
“So, we have to look for other ways and means to power irrigation systems. We are looking at both national grid and solar. In this case, we have an interim arrangement to extend power for national grid to irrigation scheme and in the future, before it is finished, we will take it to solar.”