Business

FEC approves N1.4bn to design DPR’s Abuja headquarters

Consumers to stop owning gas cylinders

The Federal Executive Council, has approved the sum of N1.4 billion for the design of the Abuja headquarters of the Department for Petroleum Resources, DPR.

The Minister of Petroleum Resources, Ibe Kachikwu disclosed this while briefing State House correspondents after FEC meeting on Wednesday at the Presidential Villa, Abuja.

Kachikwu revealed that the meeting that was chaired by President Muhammadu Buhari, awarded the contract to Messers Arteck Practice Limited to design a 12-floor building for DPR.

The design of the DPR headquarters, the minister said, would herald the beginning of the movement of the agency to Abuja from its current Lagos in Lagos.

Speaking on concerns that the cost of design of the building may be of the high side, Kachikwu said the amount is the lowest of the bids.

Read also: PoS transactions increased by 3,076%, ATM by 196% in 5 yrs —CBN

“The highest bid was about N3 billion; the total projected potential cost for the building when it is done is about N35 billion.

“So if you look at that as a percentage of the work, it is absolutely insignificant. In international terms, it is very justifiable, it is less than two per cent.

“The FCT did mention in our deliberation that because of the new zoning policies, the previous plan which was to build a car park of another five floors along with the 12 floors has to be changed a little bit because they are taking possession of additional green area that were assigned to them.

“So they will build a lot of parking institutes within the building. So, I think because of the amount of work to be done and in line with international practice, it is quite frankly very reasonable”, Kachikwu said.

He also reavealed that funding for the design will come from the coffers of DPR and not from the federal budget.

Timothy Enietan-Matthews

Timothy is a versatile journalist, down to earth with a critical and curious mind.

Join the conversation

Opinions

About the author

Timothy Enietan-Matthews

Timothy is a versatile journalist, down to earth with a critical and curious mind.

Do NOT follow this link or you will be banned from the site!