No date has as yet been fixed for President Umaru Yar’adua’s return to the country although he is responding to treatment at the King Faisal Hospital and Research Center in Jeddah, Saudi Arabia, Minister of Information Professor Dora Akunyili declared after yesterday’s meeting of the Federal Executive Council. She said it is only the president’s doctors who could determine the date of his return and they have not yet done that.
Akunyili said, “It is only the doctors that can determine when Mr President will be back, but I can confirm to you that the President is still in the hospital and responding to treatment.” At its previous meeting on Wednesday last week, FEC refused to invoke the Constitution and declare Yar’adua incapable of performing his duties. It said information available to the ministers showed that there was no need for such a move.
Earlier this week, Governor Ibrahim Shema of Yar’adua’s home state of Katsina said the president will return to the country soon to resume his duties. Shema, who returned from Saudi Arabia, said the president was feeling much better, although he did not say that he met with him. Some news agencies reported earlier this week that Yar’adua was due back in Nigeria yesterday, but the Nigerian Ambassador to Saudi Arabia Abdullahi Garba Aminci denied the report.
The government declared nearly two weeks ago that Yar’adua, who departed the country in a hurry after complaining of severe chest pain, was suffering from pericarditis, an inflammation of the sac surrounding the heart, which could affect the heart’s normal beating. However, since that statement by Yar’adua’s personal physician Dr. Salisu Banye, no official medical report on the president’s health has been published, leading to conflicting reports by Nigerian newspapers and foreign news agencies. While some quoted diplomatic and Saudi medical sources as saying he is improving, others said his condition was worsening and that he could even be moved to Germany or the United States. Yesterday’s FEC meeting was presided over by Vice President Goodluck Jonathan. The council approved a loan of 500 million dollars (about N75 billion) from the International Development Association (IDA) to finance the 2009 Supplementary Budget. Information Minister Akunyili said the decision would be forwarded, along with the supplementary budget, to the National Assembly for final approval.
She said, “This credit is extended to Nigeria under the World Bank Budget Support facility for bridging the shortfall in the 2009 budget. The credit will be applied to address unemployment challenges, infrastructure bottlenecks, especially in the railway sector, power and textile rehabilitation. It will be used for support to development financial institutions for on-lending to the real sector of the economy with particular focus on small and medium enterprises, low income housing and export- oriented industries to ensure economic diversification.”
She also said, “The credit is highly concessionary and has a repayment period of 40 years with a 10 year moratorium. It attracts a service charge of 0.75 per cent per annum on the actual draw from the credit and a commitment charge of 0.50 per cent per annum on the undisbursed balance.’’
Minister of State for Finance, Mr Remi Babalola said the interest rate on the loan was very low and would not get the country into a debt trap. He put the country’s current total external debt at 3.8 billion dollars.
The FEC also approved contract for the replacement of one unit IG7 Generator Station for Kainji Hydroelectric Power Plc which broke down in September 2007. The minister said the contract was awarded in favour of Messrs Alsstom Hydro France in the sum of 4.352 euro plus N56.15 million with 18 months delivery period.
She said that the council gave anticipatory approval of the National Integrated Power Project (NIPP) Steering Council for award of contract for assessment of the Oben-Sapele Gas pipeline and upgrade/expansion of existing gas metering facility at Sapele Power Station.
Minister of State for Power Mr. Nuhu Wyah, who was also at the briefing, said 5,400 megawatts was being generated in the country currently. He said the government was hopeful that the 6,000 MW target by the end of the year would be achieved. He identified non- availability of gas to power the turbines as a major constraint.
Meanwhile, the council has also approved contract for the procurement of three rail road inspection vehicles with parts in the sum of N247.2 million in favour of Gramet Investment Ltd. with a delivery period of 30 weeks. The council also approved the award of contract for prime consultancy for the dredging of Lower River Niger from Warri to Baro in Niger State as addendum to the former consultancy services.
The contract was awarded in favour of Royal Haskoning Engineering Consultant Ltd in the sum of N246. 6 million with completion period of 36 months. Other contracts approved by the council are rehabilitation of Onitsha River Port Complex and supply of cargo handling equipment and service contract for the implementation of cargo tracking note management in Nigeria by the Nigerian Ports Authority.