President Bola Ahmed Tinubu on Monday, May 5, 2025, presided over the Federal Executive Council (FEC) meeting at the Aso Rock Presidential Villa, with several far-reaching decisions taken to enhance infrastructure, economic growth, and governance.
Present at the meeting were Chief of Staff Femi Gbajabiamila, National Security Adviser Nuhu Ribadu, Secretary to the Government of the Federation George Akume, and other cabinet members.
Key highlights of the meeting include:
-
Infrastructure Development: The FEC approved ₦787.14 billion and $651.7 million for road projects in 13 states, including major works such as the Akure-Eta-Ogbese-Iju-Ekiti-Ikere-Ado-Ekiti road and the final 96km of the Benin-Shagamu-Ore road. The $651.7 million 7th Axial Road project is supported by the China Exim Bank to ease cargo movement from the Lekki Deep Seaport and industrial zones.
-
Cocoa Industry Reform: A draft bill for the National Cocoa Management Board (NCMB) was approved. The board will regulate cocoa production, improve farmer welfare, and provide soft loans to ensure Nigeria regains its global cocoa market standing.
-
Marine and Blue Economy: Nigeria’s first 10-year National Policy on Marine and Blue Economy (2025–2034) was adopted to boost economic gains from the country’s 853 km coastline, with a focus on private sector investment.
-
Electricity Sector Reform: The National Integrated Electricity Policy (NIEP) was approved to modernize the power sector, promote renewable energy, and overhaul the outdated 2001 electricity policy.
-
Local Content Promotion: The new Nigeria First Policy mandates all Ministries, Departments, and Agencies (MDAs) to prioritize Nigerian-made goods and services. Where local alternatives are unavailable, waivers must be obtained from the Bureau of Public Procurement (BPP).
-
Global Financial Partnerships: Nigeria was approved for full membership in the Asian Infrastructure Investment Bank (AIIB) as a non-regional member, improving access to development financing.
-
Appointments and Swearing-In: President Tinubu swore in two new Permanent Secretaries — Rafiu Olarinre Adeladan (Oyo) and Muktar Mohammed (Jigawa) — and inaugurated Saviour Enyiekere as Chairman of the National Assembly Service Commission (NASC), along with 12 commissioners drawn from all six geopolitical zones.
The outcomes of the FEC meeting reflect the Tinubu administration’s renewed focus on infrastructure renewal, economic diversification, and institutional reforms across key sectors of national development.
