FEC Approves 14 Key Projects to Boost Infrastructure, Economy

In a bid to address the country’s infrastructure challenges and boost the economy, the Federal Executive Council (FEC) has approved 14 key projects.

The approval was given at the FEC meeting presided over by President Bola Tinubu on September 23, 2024.

The projects include the construction of a 258 km 3-lane carriageway, the rehabilitation of the Abuja-Kaduna-Zaria-Kano dual carriageway, and the construction of service lanes for the Lekki Deep Sea Port.

According to the Special Adviser to President Tinubu on Information and Strategy, Bayo Onanuga, “The FEC meeting approved the establishment of a Disaster Relief Fund to support victims of flooding in parts of the country. The fund will be sourced from the Federation account and the private sector.”

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Onanuga added that the FEC also approved the Economic Stabilisation Bills, which aim to amend income tax laws, promote the export of goods and services, reform the exchange rate regime, and unlock foreign exchange liquidity.

“The bills offer tax relief to companies that generate incremental employment and personal income relief to people in private and public employment,” he said.

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Other projects approved by the FEC include the construction of bus terminals and transport facilities in Abuja, the upgrade of the Kwaita-Yebu Road in Abuja, and the construction of the Court of Appeal Abuja Division building.

The FEC also approved the acquisition of 200 CNG-powered Toyota Land Cruiser Buffalo V6 vehicles for the Nigeria Customs Service.

With these approvals, the President Tinubu’s administration has demonstrated its commitment to addressing the country’s infrastructure challenges and boosting the economy.