Nigeria’s Federal Executive Council (FEC) has approved a fresh financing package valued at nearly $3 billion, alongside €200 million and N215 billion, to fund strategic projects across the transport, agriculture, power, infrastructure and small business sectors.
The approvals were granted during Monday’s FEC meeting chaired by President Bola Tinubu, as the government moves to accelerate economic growth through targeted investments in critical sectors.
Briefing journalists after the meeting, Minister of Finance and Coordinating Minister of the Economy Taiwo Oyedele said the financing arrangements are designed to strengthen infrastructure, improve agricultural productivity, expand electricity access and provide greater support for micro, small and medium-sized enterprises (MSMEs).
According to Oyedele, the package comprises approximately $2.96 billion, €200 million and N215 billion, reflecting the administration’s commitment to addressing infrastructure deficits while stimulating private sector growth and job creation.
The latest approvals come as the Tinubu administration seeks to unlock investment, boost economic productivity and improve service delivery amid ongoing fiscal and economic reforms.
