The Federal Executive Council has approved the ratification of an air transport agreement between Nigeria and the United States.
The bilateral deal is to strengthen economic, social and cultural ties between the two countries.
The Minister of Aviation had sought council’s approval for ratification of the air transport agreement between USA and Nigeria.
The two countries are parties to a Chicago Convention of December, 1994, which urges both parties to sign air services agreements to improve social, political and economic ties.
The agreement ratified by President Buhari is expected to yield attendant benefits for both countries, especially as Nigeria is working towards having its own full national airline
The ministers of Finance and Power, jointly got approval for a memo, ratifying the President’s anticipatory approval for the release of 15.21 million euros offshore and N1.708 billion onshore
This is towards the counterpart funding for the bilateral funds German Consortium guaranteed by the German government to finance the implementation of the end to end grid modernization and expansion programme GRID
Also approved by Council was a New National Forest Policy which is a revised policy expected to provide a means of livelihood and foreign exchange from export of wood.
It is also expected to ensure a sustainable forest management, in order to mitigate the effects climate change
