The Federal Executive Council (FEC) on Wednesday approved a loan request worth $995 million to be sourced from China’s Exim Bank for the construction of phase II of Abuja – Keffi – Akwanga – Lafia – Makurdi Road.
Minister of Power, Works and Housing, Babatunde Fashola, told State House corespondents after the council meeting that the 268.5 kilometre project consists of 16.0 kilometres-Lafia bye-pass and 251.7 kilometres stretch from Ninth mile through Otukpo to Makurdi.
He said the second phase was awarded even though financing was not yet available as the award of the country was a prerequisite to access its loan from the bank.
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