Federal Executive Council Resolutions for Wednesday, 26th June, 2013.

[FMINigeria]

While briefing State House correspondents after the Council meeting, the Information Minister, Mr. Labaran Maku said the Minister for the Economy/Minister of Finance tabled a memo before the Council to seek approval to enter a Lease Financing Agreement of USD44.69 million with the Islamic Development Bank (IDB) Group, for financing the construction and Equipping of 300 Bed Specialist Hospital in Kaduna State.

He said the main objective of the project was to provide comprehensive and quality tertiary health services that would effectively handle referrals from primary and secondary health facilities in Kaduna State, other states and neighbouring countries. The project would be implemented by the Ministry of Health, Kaduna State.

Maku said after deliberations, Council approved that the CME/MF executes the lease and Instalment Sale Agreement on behalf of the Federal Government of Nigeria.

The council also directed the Attorney General of the Federation and Minister of Justice to issue the Legal Opinion to make the Agreement effective.

Maku further stated that the Coordinating Minister for the Economy/Minister of Finance brought another memo to seek Council's approval to obtain a loan of ID52.60 Million (equivalent to USD 81 Million) from the Islamic Development Bank (IDB) Group, for financing the Zaria Regional Water Supply Project in Kaduna State. The loan consists of two forms of financing under the IDB concessionary financing and manufacturing financing (Istisna'a).

He said the overall objective of the project was to solve the perennial problem of acute shortage of portable water supply in Zaria City and the neighbouring towns and villages and in order to improve the wellbeing and living conditions of the people through improvement in the operations and maintenance of water sanitation services.

After deliberations, and because the project would contribute positively to the citizens' health and eradicate all cases of water borne diseases, council approved that the CME/MF executes the Financing Agreement on behalf of the Federal Government of Nigeria.

The council directed the Attorney General of the Federation/Minister of Justice to issue the Legal Opinion required making the Loan Agreement effective.

Maku said the Coordinating Minister for the Economy/Minister of Finance presented yet another memo to seek council's approval to source a concessionary loan of ID11.55 million (equivalent to USD 17.32 million) from the Islamic Development Bank (IDB) Group, for Financing the construction and Equipping of Four Science Secondary Schools in Kaduna State; two each for male and female students.

He said the overall objective of the project was to increase the number of science graduates from Senior Secondary Schools in Kaduna State in order to produce the necessary work force that would be required for the future development of the state in particular and Nigeria in general.

Having understood that the project would among other advantages lay a good foundation for technological development by encouraging the learning and teaching of science and technical subjects at the secondary school level, council approved that the CME/MF executes the Financing Agreement on behalf of the Federal Government of Nigeria.

The council directed the Attorney General of the Federation and Minister of Justice to issue the Legal Opinion to make the Loan Agreement effective.

The Minister of Information said he gave an update on the 2013 Ministerial Platform. The council members commented that the Platform had enlightened the public more on the Administration's transformational policies, programmes and projects, noting that, for the first time since Independence, a Government had offered itself for public scrutiny and audit.

According to Maku, they observed that even the opposition and permanent critics of Government had not been able to fault the information and issues raised on the Platform. They disclosed that some council members had received commendations from individuals and organizations within and outside the country on the giant strides of the Administration since the Ministerial Platform commenced. They congratulated the President and the Vice-President for the success of the initiative and commended the Minister of Information for driving the initiative.

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Federal Ministry of Information (FMI) Nigeria