The meeting will also discuss augmentation of a road contract in Cross River.
The Executive Council of the Federation (FEC) may during its weekly meeting on Wednesday approve another $230 million (N27 billion) credit facility from two international development agencies.
The meeting is expected to be held at its usual venue in Aso Rock, Abuja and is to expected to be presided over by President Goodluck Jonathan.
The Minister of Finance, Ngozi Okonjo-Iweala, is expected to present a memo seeking the approval of members for an International Development Association credit of SDR 112.8million (about $170million).
The memo would also cover approval for French Development Agency credit of SDR39.8million (about $60million) for the second rural access and mobility project, while another memo would be presented on the implementation of the template for selecting priority projects in the country.
Several Nigerians have complained about Nigeria’s increased borrowing and seeming increasing debt profile, while Ms. Okonjo-Iweala has defended it saying it is within international threshold and at very low interest rates.
The Minister of State for Defence, Olusola Obada, is expected to defend a proposal for the ratification of two signed bilateral agreements and Memorandum of Understanding, while the Minister of Transport would present the report of the Cabinet Committee on the public/private partnership contract for the development of a gas-fired Independent Power Project (IPP) for reliable power supply to the Onne oil and gas zone, Port Harcourt, River State.
The Minister of Works, Mike Onolomemen, would, is expected to present memo to Council for deliberation towards the ratification of President Goodluck Jonathan’s anticipatory approval for the augmentation of contract for the rehabilitation of the Calabar-Ugep-Ogoja-Katsina Ala Road section 1 in Cross River State contract no 6011
The Minister of Culture, Tourism, and National Orientation, Edem Duke, would be expected to present the report of participation at the 50th Anniversary celebration of the Organisation of African Unity (OAU)/African Union (AU) held at Addis Ababa, Ethiopia.
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