FEC Approved N1.5 billion Consultancy Fee for GEEP


The Federal Executive Council has approved the sum of N1.5 billion as consultancy fee for the Government Enterprise and Empowerment Programme (GEEP), as part of government’s social investment programes. 

Minister of Trade and Investment, Dr Okechukwu Enelama revealed this to Journalists at the end of this week’s cabinet meeting presided over by President Muhammadu Buhari.

 “We got an approval from the Federal Executive Council FEC to award a contract to engage a Program Management Office Consultant and System Provider, for the GEEP at the cost of N1.556b,” he said.

Enelama said the contract which is for providing services for 4.6 million people, is a viable contract.

He noted that the program has already provided credit for over 1.5 million Nigerians

Furthermore, the Minister revealed that the Council approved the setting up of a Committee to come up with alternative ways to add to what government is doing in financing infrastructure.

He said: “It will be a committee Ministers, representatives of the  Infrastructure Concession and Regulatory Commission ICRC, Nigeria Sovereign Investment Authority NSIA, Africa Finance Corporation and some private sector players will serve in the committee with the Minister of Trade and Investment as Chairman. Others are the Minister of Finance, Minister of Power, Works and Housing, Minister of Budget and National Planning, Minister Transportation, Minister of Water Resources and Minister of State for Aviation.”

Furthermore, he said: “The target is to achieve 10-20 billion per year over the next 5-10 years United States Dollar range. Obviously government cannot do it alone and will like to partner others and it expected to be done as part of the concluding work of this administration,”

The Minister said the report is expected to be submitted within the next one month.