₦airaland Forum

The Federal Executive Council (FEC) has approved the design and construction of a new headquarters for the Bank of Industry (BoI) at Eko Atlantic City, Lagos, marking a major step in the Federal Government’s drive to reposition Nigeria’s industrial and financial infrastructure.

The approval was announced on Wednesday by the Minister of State for Industry, Trade and Investment, Senator John Enoh, while briefing State House correspondents after the FEC meeting presided over by President Bola Tinubu in Abuja.

According to Enoh, the council approved five key memoranda relating to the ministry, with three focused on industrial development and two on trade and investment.

BoI Headquarters project gets greenlight
Enoh confirmed that the BoI project received formal approval from the council.

“Council approved the award of contract for the design and build of the Bank of Industry headquarters in Eko Atlantic City,” he said.

The new headquarters is expected to serve as a central hub for the BoI’s expanded role in financing industrial growth, small and medium-scale enterprises, and export-oriented manufacturing.

FEC approves purchase of 200 electric buses
As part of broader industrial and automotive sector reforms, the council also approved the purchase of 200 electric buses for the National Automotive Design and Development Council (NADDC).

“The first memo that was considered and approved was the award of a contract for the supply of 200 units of electric buses at the cost of N58 billion for the National Automotive Design and Development Council,” Enoh said.

He explained that the project aligns with the administration’s strategy to strengthen Nigeria’s automotive ecosystem while promoting cleaner energy solutions and industrial expansion.

Nigeria industrial policy 2025 approved
Enoh described the approval of the Nigeria Industrial Policy 2025 as the most consequential outcome of the FEC meeting.

“The Nigeria Industrial Policy 2025 was finally approved today, and it provides the framework that will guide industrial growth and development,” he said.

He noted that the absence of an updated industrial policy had previously hindered international partnerships and donor engagement.

“Many of our development partners would not even listen to us because there was no industrial policy, so this approval is extremely significant,” Enoh added.

He said the policy directly supports President Tinubu’s economic diversification agenda under the administration’s eight-point policy framework.

Lekki medical tourism park, trade fair hosting approved
On trade and investment matters, Enoh disclosed that FEC approved the construction of internal and access roads within the Lekki Medical Tourism Park in Lagos.

“The approval for the construction of internal and access roads within the Lekki Medical Tourism Park was granted,” he said.

He also confirmed that the council was formally briefed on Nigeria’s selection to host the Intra-African Trade Fair (IATF).

“Nigeria has officially been selected to host the Intra-African Trade Fair after a competitive bidding process,” Enoh stated.

Lagos chosen as host city
According to the minister, Lagos will host the trade fair, with the Lagos Creative and Cultural Centre (former National Arts Theatre) designated as the main venue.

He said hosting the IATF strengthens Nigeria’s strategic position within the African Continental Free Trade Area (AfCFTA) framework and complements ongoing industrialisation programmes being implemented in collaboration with the United Nations Industrial Development Organisation (UNIDO).

What you should know
Last week, the Federal Executive Council (FEC) approved the 2026–2028 Medium-Term Expenditure Framework (MTEF), a key fiscal document that outlines Nigeria’s revenue expectations, macroeconomic assumptions, and spending priorities for the next three years.

The Minister of Budget and Economic Planning, Senator Atiku Bagudu, said the Federal Government is projecting a total revenue inflow of N34.33 trillion in 2026, including N4.98 trillion expected from government-owned enterprises.

Estello:
https://nairametrics.com/2025/12/10/fec-approves-construction-of-bank-of-industry-headquarters-at-eko-atlantic-city/

ZombieTAMER:
Instead of decongesting lagos

just look at, what happened to other cities

Terrible politicians

Gotocourt:
This is against master plotter strategist founder of Lagos who tamed the Atlantic ocean

Estello:
https://nairametrics.com/2025/12/10/fec-approves-construction-of-bank-of-industry-headquarters-at-eko-atlantic-city/

emkz:
Non-Breaking News 1: Rufai Oseni to ask for environmental impact assessment, cost per kilometer, and compensation for properties whose owners have no documents to back ownership.

Non-Breaking News 2: Atiku Abubakar laments opaque costs of project and asks why it was awarded to a certain company.


Non-Breaking News 3: Peter Obi talks about multidimensional poverty and says investment in infrastructure cannot lift people out of poverty.

hatchy:
He is taking everything to the West as if that is the only place Nigeria exist.
The South South where the oil comes from that is used to keep the heart of this country beating is bleeding of development - nothing is happening over here.

Some days back, a commissioner in Lagos state was protesting why the ports authorities should divert some of the container ships to the Warri ports, a port that has been dormant but have the capacity to handle such cargos, then you begin to wonder the kind of people we share this country with.

The PH, Onne, Calabar ports are all dormant with nothing going on there.
The Ibom deep sea port have not been given attention by Tinubu because he doesn't want anything that will decentralise the Lagos corridor. To talk of the dredging of the River Niger to give way for Onitsha port is a thing for another century. This is wickedness to other component parts of the federation.

We are not crying because anything will change but let it be on record and let everyone, the whole world see how a country is being run aground by tribalism because a time shall come when another Pharaoh who do not know Joseph will also mount the throne.

hatchy:
He is taking everything to the West as if that is the only place Nigeria exist.
The South South where the oil comes from that is used to keep the heart of this country beating is bleeding of development - nothing is happening over here.

Some days back, a commissioner in Lagos state was protesting why the ports authorities should divert some of the container ships to the Warri ports, a port that has been dormant but have the capacity to handle such cargos, then you begin to wonder the kind of people we share this country with.

The PH, Onne, Calabar ports are all dormant with nothing going on there.
The Ibom deep sea port have not been given attention by Tinubu because he doesn't want anything that will decentralise the Lagos corridor. To talk of the dredging of the River Niger to give way for Onitsha port is a thing for another century. This is wickedness to other component parts of the federation.

We are not crying because anything will change but let it be on record and let everyone, the whole world see how a country is being run aground by tribalism because a time shall come when another Pharaoh who do not know Joseph will also mount the throne.

Estello:
https://nairametrics.com/2025/12/10/fec-approves-construction-of-bank-of-industry-headquarters-at-eko-atlantic-city/

hatchy:
He is taking everything to the West as if that is the only place Nigeria exist.
The South South where the oil comes from that is used to keep the heart of this country beating is bleeding of development - nothing is happening over here.

Some days back, a commissioner in Lagos state was protesting why the ports authorities should divert some of the container ships to the Warri ports, a port that has been dormant but have the capacity to handle such cargos, then you begin to wonder the kind of people we share this country with.

The PH, Onne, Calabar ports are all dormant with nothing going on there.
The Ibom deep sea port have not been given attention by Tinubu because he doesn't want anything that will decentralise the Lagos corridor. To talk of the dredging of the River Niger to give way for Onitsha port is a thing for another century. This is wickedness to other component parts of the federation.

We are not crying because anything will change but let it be on record and let everyone, the whole world see how a country is being run aground by tribalism because a time shall come when another Pharaoh who do not know Joseph will also mount the throne.

hatchy:
He is taking everything to the West as if that is the only place Nigeria exist.
The South South where the oil comes from that is used to keep the heart of this country beating is bleeding of development - nothing is happening over here.

Some days back, a commissioner in Lagos state was protesting why the ports authorities should divert some of the container ships to the Warri ports, a port that has been dormant but have the capacity to handle such cargos, then you begin to wonder the kind of people we share this country with.

The PH, Onne, Calabar ports are all dormant with nothing going on there.
The Ibom deep sea port have not been given attention by Tinubu because he doesn't want anything that will decentralise the Lagos corridor. To talk of the dredging of the River Niger to give way for Onitsha port is a thing for another century. This is wickedness to other component parts of the federation.

We are not crying because anything will change but let it be on record and let everyone, the whole world see how a country is being run aground by tribalism because a time shall come when another Pharaoh who do not know Joseph will also mount the throne.

AustineE1:
You want to divert attention from the main issues,the same people whom are complaining that Lagos is overstretched and is congested,keep pushing all major federal government projects and establishments to Lagos,its only natural that more people will flood the state,as workers and others that will benefit directly and indirectly from such will head to Lagos ASAP.
I don't think this is the way to decongest Lagos,this government is creating a bigger problem for Lagos,in an attempt to acquire more for their region.

Estello:
The Federal Executive Council (FEC) has approved the design and construction of a new headquarters for the Bank of Industry (BoI) at Eko Atlantic City, Lagos, marking a major step in the Federal Government’s drive to reposition Nigeria’s industrial and financial infrastructure.

The approval was announced on Wednesday by the Minister of State for Industry, Trade and Investment, Senator John Enoh, while briefing State House correspondents after the FEC meeting presided over by President Bola Tinubu in Abuja.

According to Enoh, the council approved five key memoranda relating to the ministry, with three focused on industrial development and two on trade and investment.

BoI Headquarters project gets greenlight
Enoh confirmed that the BoI project received formal approval from the council.

“Council approved the award of contract for the design and build of the Bank of Industry headquarters in Eko Atlantic City,” he said.

The new headquarters is expected to serve as a central hub for the BoI’s expanded role in financing industrial growth, small and medium-scale enterprises, and export-oriented manufacturing.

FEC approves purchase of 200 electric buses
As part of broader industrial and automotive sector reforms, the council also approved the purchase of 200 electric buses for the National Automotive Design and Development Council (NADDC).

“The first memo that was considered and approved was the award of a contract for the supply of 200 units of electric buses at the cost of N58 billion for the National Automotive Design and Development Council,” Enoh said.

He explained that the project aligns with the administration’s strategy to strengthen Nigeria’s automotive ecosystem while promoting cleaner energy solutions and industrial expansion.

Nigeria industrial policy 2025 approved
Enoh described the approval of the Nigeria Industrial Policy 2025 as the most consequential outcome of the FEC meeting.

“The Nigeria Industrial Policy 2025 was finally approved today, and it provides the framework that will guide industrial growth and development,” he said.

He noted that the absence of an updated industrial policy had previously hindered international partnerships and donor engagement.

“Many of our development partners would not even listen to us because there was no industrial policy, so this approval is extremely significant,” Enoh added.

He said the policy directly supports President Tinubu’s economic diversification agenda under the administration’s eight-point policy framework.

Lekki medical tourism park, trade fair hosting approved
[b]On trade and investment matters, Enoh disclosed that FEC approved the construction of internal and access roads within the Lekki Medical Tourism Park in Lagos.

“The approval for the construction of internal and access roads within the Lekki Medical Tourism Park was granted,” he said.

He also confirmed that the council was formally briefed on Nigeria’s selection to host the Intra-African Trade Fair (IATF).

“Nigeria has officially been selected to host the Intra-African Trade Fair after a competitive bidding process,” Enoh stated.

Lagos chosen as host city
According to the minister, Lagos will host the trade fair, with the Lagos Creative and Cultural Centre (former National Arts Theatre) designated as the main venue.

He said hosting the IATF strengthens Nigeria’s strategic position within the African Continental Free Trade Area (AfCFTA) framework and complements ongoing industrialisation programmes being implemented in collaboration with the United Nations Industrial Development Organisation (UNIDO).

What you should know
Last week, the Federal Executive Council (FEC) approved the 2026–2028 Medium-Term Expenditure Framework (MTEF), a key fiscal document that outlines Nigeria’s revenue expectations, macroeconomic assumptions, and spending priorities for the next three years.[/b]

The Minister of Budget and Economic Planning, Senator Atiku Bagudu, said the Federal Government is projecting a total revenue inflow of N34.33 trillion in 2026, including N4.98 trillion expected from government-owned enterprises.
https://nairametrics.com/2025/12/10/fec-approves-construction-of-bank-of-industry-headquarters-at-eko-atlantic-city/

Estello:
https://nairametrics.com/2025/12/10/fec-approves-construction-of-bank-of-industry-headquarters-at-eko-atlantic-city/

hatchy:
He is taking everything to the West as if that is the only place Nigeria exist.
The South South where the oil comes from that is used to keep the heart of this country beating is bleeding of development - nothing is happening over here.

Some days back, a commissioner in Lagos state was protesting why the ports authorities should divert some of the container ships to the Warri ports, a port that has been dormant but have the capacity to handle such cargos, then you begin to wonder the kind of people we share this country with.

The PH, Onne, Calabar ports are all dormant with nothing going on there.
The Ibom deep sea port have not been given attention by Tinubu because he doesn't want anything that will decentralise the Lagos corridor. To talk of the dredging of the River Niger to give way for Onitsha port is a thing for another century. This is wickedness to other component parts of the federation.

We are not crying because anything will change but let it be on record and let everyone, the whole world see how a country is being run aground by tribalism because a time shall come when another Pharaoh who do not know Joseph will also mount the throne.

hatchy:
He is taking everything to the West as if that is the only place Nigeria exist.
The South South where the oil comes from that is used to keep the heart of this country beating is bleeding of development - nothing is happening over here.

Some days back, a commissioner in Lagos state was protesting why the ports authorities should divert some of the container ships to the Warri ports, a port that has been dormant but have the capacity to handle such cargos, then you begin to wonder the kind of people we share this country with.

The PH, Onne, Calabar ports are all dormant with nothing going on there.
The Ibom deep sea port have not been given attention by Tinubu because he doesn't want anything that will decentralise the Lagos corridor. To talk of the dredging of the River Niger to give way for Onitsha port is a thing for another century. This is wickedness to other component parts of the federation.

We are not crying because anything will change but let it be on record and let everyone, the whole world see how a country is being run aground by tribalism because a time shall come when another Pharaoh who do not know Joseph will also mount the throne.