The Executive Council of the Federation has approved the Nigeria Agenda 2050 which aims to make Nigeria a high income economy.
The Plan was approved on Wednesday during the weekly meeting of the Council chaired by President Muhammadu buhari in Abuja.
Briefing Correspondents after the meeting, The Minister of State for Budget and National planning Clem Agba said the plan would take the country through to an upper middle-income country and subsequently to the status of high-Income country.
He added that the Nigeria Agenda 2050 projects annual average real GDP growth of 7.0%.
The council also approved N15 billion for the award of contracts for the construction of an access road from the existing Benin-Asaba expressway to approach link road to second Niger bridge in Delta state.
Minister of Information Lai Mohammed said the Council approved N9 billion naira as Revised estimated total cost of contract for the Phase 1 dualization of the Suleja- Minna road in Niger State.
The Sum of N8 billion was also approved by the Council on Wednesday for the construction of Jatu Dam in Etsako west Local goverment area of Edo state to provide portable water and all year round water for farming for the community.
The Edo state government is to provide the sum of N2 billion as 25percent counterpart funding for the project.
ECF approved N2.8 billion for the procurement of software for the National population commission for the conduct of the National Census in May 2023.
Minister of Power Abubakar Aliyu said the council approved the sum of £3.7 million as contract variation for the construction of 33KVA substation at Nnewi and a 132kv line bay extension at Onitsha substation for the Transmission company of Nigeria.
He said the project has suffered delayed since 2006 due to poor budgetary allocation among other challenges.
(Editor: Ena Agbanoma)
