The federal government yesterday approved the sum of N15 billion to supplement the N10 billion earlier approved for the public mass transit programme it introduced last month to cushion the biting effect of fuel subsidy removal on Nigerians.?
It also approved the issuance of provisional licences for the establishment of five universities, bringing the number of universities in the country to122.Information Minister, Mr. Labaran Maku, stated this while briefing State House Correspondents shortly after the weekly Federal Executive Council (FEC) meeting, presided over by Vice President Namadi Sambo.
According to him, while the approved sum f 15 billion is expected to purchase 1,240 high capacity mass transit buses for disbursement to competent transport investors in the country, council’s approval of the five new universities came on the heels of “the gross inadequacies of the current 117 universities in serving a population of over 150million people”.
Speakiing alongside Minister of Education, Prof. Ruqayyatu Rufai, and Minister of State for Trade and Investment, Samuel Ortom, Maku said Council’s approval of the disbursement of N15 billion would go into the public mass transit revolving loan programme which the President floated on January 8 as part of efforts to reduce the cost of transport, especially for the Nigerian masses.