FEC okays N23.1bn for contracts in Police Affairs Ministry
By Egena Sunday Ode
The Federal Government has proposed a National Food Security Council meeting to address the rising food inflation in the country.
Minister of Finance, Budget and National Planning, Zainab Ahmed, disclosed this Wednesday at a briefing after the Federal Executive Council (FEC) meeting chaired by the Vice President, Yemi- Osinbajo at the Presidential Villa, Abuja.
The Food Security Council chaired by President Muhammadu Buhari and co-chaired by the Kebbi state governor, Atiku Bagudu, would meet “very quickly to address the issue of food inflation, and also provide a plan and some methods in which we can reduce the cost of food to support improved food prices for the citizenry,” she said.
Ahmed further said Council was briefed about the rising inflation rate and the need to manage the cost of inflation in the country.
The Minister, who disclosed that the government was making efforts to address the declining sectors of the economy, said the Council received a report from her ministry for the first quarter of 2022 GDP which showes that the Nigerian economy had grown by 3.1% in the first quarter as against a growth of 0.5% in the corresponding period in 2021.
“This growth shows a gradual economic stability from the recession that we witnessed in 2020. And also it shows the six quarter of positive growth that the Nigerian economy has presented.
“So, of the 46 economic activities, the bulk sector performance show that services sector grew strongly by 4.7%, agriculture also grew by 3.61%, Industry on the other hand contracted by -6.81%. and there’s also a significant contraction in the crude oil, petroleum and natural gas sector of 26.04%.
“Coal mining sector also declined, oil refinery the biggest contraction of 44.26%. electricity sector, textile outcome. Therefore, even though there has been growth in some sectors, there are significant contraction than others but the net effect is positive growth.
“We’re very mindful of the fact that unless we have most of the sectors growing, especially the growth in the jobs impacted sectors, that this growth that is positive will not be directly felt by the people,” she stressed.
She said: “We also reported to Council that inflation has started going upward to the extent that the monetary authorities of the Central Bank have had to adjust the Monetary Policy Rate (MPR) to 13% at the last Monetary Policy Committee (MPC) meeting and that’s an attempt to manage the cost of inflation.
“So, Council has decided to set up a special effort to look at the sectors that are not growing and also to look at how we can grow the other sectors better.”
The Council also approved a total sum of N23.115 billion for contracts in both Police Affairs and Petroleum Resources ministries.
While the Police Affairs ministries got the sum of N8,315,209,825 for procurement of raincoats, Police boots and others, Petroleum Mininstry got N11 billion for contracts.
Giving the breakdown, the Minister of Police Affairs, Maigari Dingyadi said the Council okayed the Memorandum of Understanding for the purchase of 82 Toyota brand of vehicles; N1.9 billion for customized raincoat; customized Police boots at N576 million; Micro First Aid Kits for the police at N1 billion; customized instructional materials for the police colleges and schools at N664 million and supply of drugs and medical equipment for police hospitals across the country at N2 billion.
Minister of State, Petroleum Resources, Timipre Sylva, disclosed that the Council approved the memo for the NNPC Limited to execute a Memorandum of Understanding with ECOWAS for the construction of the Nigeria-Morocco Gas Pipeline to take gas to 15 West African countries and through Morocco to Spain and Europe.