Federal Executive Council
FEC suspends new contracts, to audit ongoing projects
Jun 24, 2009, 18:25
| | The Federal Executive Council (FEC) on Wednesday June 24 suspended approval of new contracts by various Ministries, Departments and Agencies (MDAs) pending the review of contracts already awarded.
Briefing the press after the weekly meeting presided over by President Umaru Musa Yar’Adua, Information and Communications Minister, Prof. Dora Akunyili explained that the level of execution of contracts had become necessary to meet the target set by the current administration for the vital sectors of the economy.
The minister further explained that the power sector was the first to be reviewed by the Council because of its strategic importance in as index of socio-economic development, an essential national priority and major ingredient for attaining the Vision 20-2020.
During the review, she said, it was acknowledged that out of the N70.91billion allocation approved for the Ministry of Power's in the 2009 Appropriations Act, N35.45 billion had already been released to it.
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