FEC approves resumption of ‘Park and Pay’ in FCT

The Federal Executive Council (FEC) has approved the resumption of on-street parking also known as Park and Pay in the Federal Capital Territory (FCT) Abuja.

The Minister of Information and Culture, Lai Mohammed made the announcement, at the end of FEC meeting which was presided over by President Muhammadu Buhari on Wednesday

He said the FCT minister had been seeking an amendment to the laws and consequently had received ratification of the memo in question.

He reminded the public that the on-street parking which had commenced in 2012 was discontinued after a court ruling declaring it illegal, but that with the approval, there would be immediate recommencement.

The information minister also disclosed that the Second Niger Bridge was ready for commissioning on May 20.

Earlier, FEC approved $4.7 billion for the development of the Ondo Multi-Purpose Port, Ilaje; Snake Island in Lagos; and Burutu in Delta State.

For his part, the Minister of State for Transportation, Prince Ademola Adegoroye, told State House Correspondents that the projects were to be executed through public-private partnership arrangement at no cost to the Federal Government.

He said the Ondo port would cost the private developers the sum of $1.48 billion and would be concessioned for a period of 50 years with the accruals to the concessionaire and the Federal Government expected to be $50 billion and $2.6 billion, respectively

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