The Federal Executive Council ( FEC) on Wednesday, approved a contract for the construction of the Oloibiri Oil Museum and Research Center at the cost of N117 billion.
The Minister of State for Petroleum Resources, Timipre Sylva, stated this while briefing correspondents on the outcome of the Federal Executive Council (FEC) presided over by President Muhammadu Buhari on Wednesday at the Presidential Villa, Abuja.
The Council had earlier received briefings from the Chairman of the Independent National Electoral Commission (INEC) , Mahmoud Yakubu and Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele, on preparations for the February 25, and March 11 Presidential, National Assembly and Governorship, as well as State House of Assembly elections respectively.
The Emefiele who had been frequenting the State House since the current currency swap crises, however did not speak with the State House Journalists after his engagements with the President
But briefing after the FEC meeting, Sylva stated that the contract was awarded to Messrs Julius Berger PLC, with a completion timeframe of 30 months.
Read also: Buhari presides over FEC meeting
The project, he said, has been on the drawing board for so long. The first time foundation stone was laid for this project was in the early 80s by the then president, Shehu Shagari.
The minister blamed the current high cost of petroleum products in parts of the country on marketers engaging in profiteering.
He said the ministry had given necessary directives to end the unwholesome act currently going on in the petroleum sector, which had caused huge hikes in product price from one part of the country to another.
Sylva added that it appeared that the directives had not been complied with, promising to find out why things have not improved.
The Minister, who observed that petroleum products are now available in more quantities in the country, also blamed its scarcity on factors that he said are not under the control of the Ministry.
He pointed out that there are bottlenecks in supply issues, which the government is currently working to resolve.
On the coming elections, the Minister noted that the Nigerian National Petroleum Company Limited (NNPCL) has assured the Independent National Electoral Commission (INEC) that petroleum products will be available during the exercise.
He announced that FEC approved the award of contract for the construction of the Oloibiri Oil Museum and Research Centre to Messrs Julius Berger Plc, at the sum of N117 billion with a completion period of 30 months.
So, this actually is a major milestone and it is expected to be a major legacy of Mr. President in the Niger Delta.
Minister of Aviation, Hadi Sirika, said FEC also awarded contract to the Chinese firm, CCECC, for the airport maintenance and technical support at Malam Aminu Kano International Airport, Kano and… for a period of 12 months and the cost of N721,266,733.64
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