FEC approves N1.4b for Calabar Export zone

The Federal Executive Council (FEC) has approved N1.4 billion for the upgrading of electricity facilities at the Calabar Free Trade Zone Area.

Briefing journalists on Wednesday after the council meeting in Abuja, the Minister of Industry Trade and Investment, Mr.Niyi Adebayo said: “On behalf of one of our parastatals, the Nigeria Exports Processing Zones Authority, we brought a memo for the award of contract for the upgrade of the electricity component in the Calabar Free Trade Zone Area.

“The contracts were initially awarded in 2018 to upgrade the electrical facility in the Area but it was not completed so we brought a memo today and council approved the sum of N1,000,484, 000 for the completion of electrical upgrading at the Calabar Free Trade Zone Area.”