The Federal Executive Council has authorised a contract for the Federal Inland Revenue Service’s new office building and parking lot, valued at about N14.88 billion.
This was announced on Wednesday following a FEC meeting at the State House presided over by Vice President Yemi Osinbajo, according to Minister of State for Budget and National Planning Clement Agba.
According to Agba, the construction of the 12-story structure would reduce traffic along Awolowo Road and save FIRS N4 billion in annual rent.
The Council also authorized the development of a database for the National Capital Projects Information System of Government to monitor the rising number of unfinished and abandoned projects across the nation, particularly those that started within the last five years and are a drain on public resources.
The Finance Minister will be in charge of the National Capital Projects and Information System, which includes key infrastructure ministries, and will prioritize and fund chosen projects on an annual basis.
Depending on the findings of investigations, some projects may be privatised, others put to other uses, and others may be completely abandoned and treated as a sunk cost.
Mohammad Abubakar, the minister of agriculture, has claimed that the government is making efforts to lower the rate of inflation, chiefly through subsidizing fertilizer, enhancing output, and combating smuggling, among other measures.
He refuted predictions that there would be a food scarcity in the country in 2023 once more.