The Federal Executive Council (FEC) has approved major infrastructure and financial interventions aimed at fast-tracking development, revitalizing the creative economy, and improving citizens’ welfare under the Renewed Hope Agenda.
Briefing State House correspondents after the meeting chaired by President Bola Ahmed Tinubu at the Presidential Villa, Abuja, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said the Council approved $300 million for the resettlement and support of internally displaced persons and their host communities in northern Nigeria.
He also announced the approval of a $96 million credit facility—comprising $46 million from the African Development Bank and $50 million from the Islamic Development Bank—for the Borno State Health Infrastructure Project to strengthen healthcare delivery.
Edun noted that the funds will directly support communities affected by conflict, while reinforcing inclusive growth and human capital development nationwide.
The Minister of Works, David Umahi, disclosed that the Council approved 11 memos from his ministry, including four new road contracts and seven contract reviews.
He listed the projects to include Section Two, Phase Two of the Lagos–Ibadan Expressway at ₦403 billion, and the reconstruction of Section Three of the 162.97-kilometre Sokoto–Badagry Super Highway using rigid pavement technology.
He added that some state governments, including Edo, Delta, and Rivers, have taken over certain federal road projects to accelerate completion.
In the Federal Capital Territory, Minister Nyesom Wike announced that FEC ratified the appointments of key judicial officers and re-awarded the long-stalled Maitama II District infrastructure contract covering 786 hectares to enhance residential and commercial development.
The Minister of Aviation and Aerospace Development, Festus Keyamo, revealed that eight aviation memos were approved to improve flight safety and passenger services, including new firefighting vehicles, upgraded navigational power systems, airport maintenance contracts, and a permanent headquarters for NAMA.
Council also approved the concession of Port Harcourt International Airport and the rollout of biometric verification systems in airports.
Similarly, the Minister of Art, Culture, Tourism, and the Creative Economy, Hannatu Musa Musawa, announced the approval of Tourism and Cultural Economic Zones in the six geopolitical zones and the FCT, along with new national tourism brands and a fresh Intellectual Property Policy to empower creatives with better access to financing.
Bello Wakili
