The Federal Executive Council (FEC), on Wednesday, approved a contract worth 11 million Euros (N2.4 billion) for procurement and erection of Auto Testing Laboratory equipment and training. This will ensure proper standards for vehicles and auto parts manufactured in Nigeria.
Minister of Trade and Investments, Olusegun Aganga, disclosed this at the end of FEC meeting at the Presidential Villa, explaining that the three laboratories will be located in Lagos, Enugu and Zaria.
He said: “The overall objective is to ensure vehicle safety and environmental protection as well as the quality of automotive products in Nigeria.he stated.
This will be funded with N2.38 billion earmarked for the auto-testing laboratories equipment and tools out of the provision of N3.01 billion approved 2015 Internally Generated Revenue (IGR) budget for the purpose.
A breakdown of the contract shows that the supply, installation and training on Auto-Testing Laboratory Equipment for emission laboratory, Lagos, in favour of Messers AVL List GMBH, Austria will cost 4.8 million Euros.
The same for Enugu, in favour of Messers Mustang Advanced Engineering (USA), that of Afram Nigeria Limited will cost 4.62 million Euros; while that of Zaria, awarded in favour of Messers AVS Nigeria/Artec Technology, Netherlands, is worth 1.2 million Euros.
This is even as the additional supply, installation and training on Auto Testing Laboratory Equipment for Metallic Component and Safety Glass Laboratory in Zaria will gulp 764,036.91 Euros while the Auto-Testing Laboratory Equipment for vehicle evaluation laboratory, still in Zaria, will cost 898, 791 Euros.
The FEC also approved the acquisition of a temporary office building? ?for the Investments and Securities Tribunal (IST) at Plot 1072 Cadastral Zone? in Dakibiyu District, along Airport Road, Abuja.
This will cost government N326.09 million and will be funded from a grant of N410, 004,829.81 by the Securities and Exchange Commission (SEC) to the tribunal based on a request by the Ministry of Finance for the office building, pool vehicles for judges and its other operational purpose.
The tribunal had over the years been grappling with the challenge of regular payment of rent on its office accommodation as well as threats of eviction from the rented office accommodation, which became an annual occurrence with its attendant embarrassment.?
Minister of Environment, Laraba Malam, further disclosed that FEC approved the National Policy Framework on Nigeria Polychlorinated Biphenyls Management.