FEC approves air transport pact between Nigeria, U.S

The Federal Executive Council has approved the ratification of an air transport agreement between Nigeria and the United States of America.

The bilateral agreement is to strengthen economic, social and cultural ties between the two countries.

Minister of Aviation had sought council’s approval for ratification of the air transport agreement between USA and Nigeria, saying that the two countries were parties to a Chicago Convention of December, 1994, which urges both parties to sign air services agreements to improve social, political and economic ties.

According to the Minister, the agreement ratified by President Buhari is expected to yield attendant benefits for both countries, especially as Nigeria is working towards having its own full national airline

Also, the ministers of Finance and Power, were jointly given approval  over a memo, ratifying the President’s anticipatory approval for the release of 15.21 million euros offshore and N1.708 billion onshore

This is towards the counterpart funding for the bilateral funds which the German Consortium guaranteed to enable the German government finance the implementation of the end to end grid modernization and expansion programme GRID

Furthermore, the Council also approved a New National Forest Policy which is a revised policy expected to provide means of livelihood and foreign exchange from export of wood, as well as 
ensure a sustainable forest management, and mitigate the effects of climate change