On September 25th, according to Nigerian media, on Monday, September 23rd local time, the regular meeting of the Federal Executive Council of Nigeria was held under the leadership of President Bora Tinubu and made several important decisions.
The committee approved the construction of judges' dormitories in the Abujakatanpe area and the bill to amend Nigeria's tax laws.
One of the bills provides tax exemptions for companies that create incremental employment, while the other provides personal income exemptions for private and public sector employees ranging from 200000 to 400000 naira. Additionally, there are bills seeking cooperation between federal and state governments to suspend certain taxes on small businesses and vulnerable groups. These economic stability bills will be submitted to the National Assembly for approval.
The meeting reviewed the flood situation in some parts of the country, especially in Maiduguri, Borno State, where nearly 50% of the area was destroyed by floods. It supported the idea of the President establishing a disaster relief fund, which would be funded by a portion of the Federation's account income and raise funds from the private sector. It has also been decided to establish a technical committee to conduct integrity testing on the Arao Dam and other dams across the country.
The committee has approved multiple highway construction and repair contracts, including the construction of 258 kilometers of three lane continuous reinforced concrete pavement roads in Kebi and Sokoto states, the approval of the revised estimated contract cost for the construction of the Hakata Bonny highway, the adjustment of scope, and the reduction of the contract amount for the repair of the Abuja Kaduna Zaria Kano dual lane road. China Civil Engineering Group Nigeria Limited has been awarded two highway contracts, BDT International Limited has won the contract for bridge repair in Borno State, China Civil Engineering Group Nigeria has repaired the third largest land bridge and road, approved the contract for the construction of the Lequi Deepwater Port via Eppe to Shagamu Benin Expressway Service Channel, as well as the contract for the dual carriageway of roads in Ebonyi, Abia, and Imo States. It has also approved the contract for the repair of 14 bridges and roads nationwide, as well as flooded sections of federal highways.
