The Federal Executive Council has approved the installation of technology monitoring schemes and structures under the Petroleum Equalization Fund at the cost of seventeen billion Naira.
This formed part of decisions reached at this week’s cabinet meeting in Abuja.
The Federal Government has been gravely concened in recent times, about inconsistent data on subsidy payment, fuel consumption in Nigeria, and how much is lost to illegal diversion of products
It is seeking to change this narrative and this week, the Federal Executive Council approved the installation of an automated fuel system management and censor network
Also approved was the contract for the supply and installation of Mobile Cargo Scanners at the Apapa, TIN Can Island and Onne ports at the cost of 8.047 billion Naira
This, the Finance Minister said, had become imperative with increased attempts to smuggle illegal firearms and illicit drugs through the ports . The cabinet also approved the sum of 348.5 billion Naira for the construction of the 420.6 kilometer Akwanga-Jos-Bauchi-Gombe road.
The project which is expected to be completed in 48 months will complete the integration of the north central with the south east and the north east parts of the country