The presidency has approved a sum of N1.484 billion contract for the upgrading of the electricity component of the Calabar Free Trade Zone Area in Cross River State, to boost its power supply.
Minister of Industry, Trade and Investment, Otunba Niyi Adebayo, announced the approval at a news briefing on Wednesday at the end of the Federal Executive Council Meeting presided over by President Mohammadu Buhari at the Presidential Villa in Abuja.
He explained that his ministry presented a memo for the award of the contract to upgrade the electricity component of the Calabar Free Trade Zone.
The minister added that the contract would see to the completion of the free trade zone project.
“The contract was initially awarded in 2018 to upgrade the electrical facility in the free trade zone area and it was not completed. So, we brought a memo and Council approved the sum of N1.484 billion for the Completion of the Calabar Free Trade Zone Area,” Adebayo said.
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