Federal Executive Council (FEC) don approve five major proposals from Ministry of Industry, Trade and Investment, including Nigeria Industrial Policy 2025, procurement of 200 electric buses, and big infrastructure projects inside Lagos.
Minister of State for Industry, Trade and Investment, Senator John Owan Enoh, announce the approvals after the Council meeting wey President Bola Tinubu chair for Aso Rock on Wednesday.
₦58bn Electric Bus Project Get Green Light
Enoh tok say government go spend ₦58 billion to buy 200 electric buses for National Automotive Design and Development Council (NADDC).
According to am, the Bureau of Public Procurement don already clear the contract, and the contractor get strong track record for assembling EV locally — following government “Nigeria First” policy.
₦187.8bn BOI Headquarters for Lagos Approved
FEC also approve ₦187.8 billion for design and construction of new Bank of Industry headquarters for Eko Atlantic City, Lagos.
The minister say the project match BOI’s growing role inside Nigeria industrialisation agenda.
Industrial Policy 2025 Finally Adopted
Enoh describe the approval of Nigeria Industrial Policy 2025 as the biggest decision of the day.
He say the policy get five main pillars:
Develop industrial infrastructure
Diversify sectors and value chains
Improve investment climate
Promote innovation and technology
Support green growth and climate resilience
The Minister add say the policy align with President Tinubu’s Eight-Point Agenda and go guide Nigeria industrial growth going forward.
Lekki Medical Tourism Park Roads, IATF Hosting Also Approved
Under trade and investment, FEC approve construction of internal and access roads for Lekki Medical Tourism Park inside Lekki Free Trade Zone.
Council also confirm Nigeria as the next host of the Intra-African Trade Fair (IATF), after competition with other African countries.
Lagos go host the event and the renewed National Arts Theatre — Sunní Health Centre for Culture and Creative Arts — go serve as main venue.
Enoh say hosting the IATF go strengthen Nigeria position for AfCFTA and boost the country ambition to become Africa industrial hub.
