The Federal Executive Council (FEC) Wednesday approved approved the supply of 200 electric buses for the National Automotive Design and Development Council at the cost of N58 billion.
This was disclosed by the Minister of State for Industry, Trade and Investment, Mr John Eno, while briefing State House correspondents at the end of the FEC meeting presided over by President Bola Ahmed Tinubu.
He said FEC approved the design and construction of a new Bank of Industry headquarters at Eko Atlantic City, Lagos, at a total cost of N187 billion.
He said the FEC endorsed the Nigerian Industrial Policy 2025, a document crucial to attracting global development partners and guiding the country’s manufacturing and diversification agenda.
“When I came in, development partners would not engage us because we lacked an industrial policy. This document now gives Nigeria a proper guide for industrialisation and aligns with the President’s economic diversification drive,” he said.
On trade and investment matters, the minister said FEC approved the construction of internal and access roads within the Lekki Medical Tourism Park, Lagos.
He said Nigeria had been confirmed as host of the next Intra-African Trade Fair following a competitive bidding process in collaboration with Afreximbank.
“Lagos will serve as host city, with the Wole Soyinka Centre for Culture and Creative Arts (formerly National Theatre, Iganmu) designated as the main venue.
“This is a huge event for the continent and positions Nigeria strongly within the African Continental Free Trade Area. It reinforces our ambition to become Africa’s hub for industrialisation rather than a dumping ground,” he said.
Also speaking, Minister of Aviation and Aerospace Development, Mr Festus Keyamo, said the FEC approved several aviation infrastructure and safety projects, including continued maintenance and technical support services at the Aminu Kano International Airport by China Civil Engineering Construction Corporation (CCECC), the builders of the airport’s new terminal.
He said the arrangement also includes training Nigerians to take over maintenance duties in the near future.
The minister the council also approved advanced navigational and safety technologies, including procurement and installation of the Advanced Surface Movement Guidance and Control System at Lagos and Abuja airports to detect obstructions on runways and alert approaching aircraft.
He said the council also approved construction of modular air traffic control towers in eight airports, installation of aeronautical frequency spectrum monitoring and interference detection systems, and upgrades of air-ground radio communication systems at nine airports, including Lagos, Abuja, Port Harcourt, Kano, Ilorin, Maiduguri, Sokoto and Wukari.
He said the council also approved continued expansion of biometric-enabled electronic gates at all international airports to fast-track immigration processing and improve passenger experience.
He said the measures reflect the President Tinubu’s insistence on aviation safety across the country.
“Our airspace is now one of the safest in Africa because of our compliance level since this administration came in. The President continues to insist that Nigerians must fly safely,” he said.
