The Federal Executive Council (FEC) has approved three major rail projects worth $2.99 billion as part of efforts to modernise Nigeria’s transportation system and boost economic growth.
The decision was announced after a council meeting chaired by President Bola Tinubu in Abuja. According to the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, the projects include the Lagos Green Line Rail, Kano Metro Rail, and Kaduna State Rail project.
These projects are expected to reduce traffic congestion, improve movement within cities, and support business activities across different regions. They have already been included in the extended 2025 budget, showing the government’s commitment to infrastructure development.
The Lagos Green Line will strengthen existing rail systems in the city, while the Kano and Kaduna projects are expected to improve transportation and trade in northern Nigeria.
In the aviation sector, the government also made key decisions, including resolving a long-standing dispute over the Murtala Muhammed Airport Terminal Two (MM2) in Lagos.
The Minister of Aviation, Festus Keyamo, confirmed that the disagreement between the government and Bi-Courtney Aviation Services has finally been settled after more than 20 years.
As part of the agreement, Bi-Courtney agreed to drop its N132 billion compensation claim and give up control of the domestic terminal (MM1). The company also accepted the removal of an exclusivity clause that prevented other private airports from operating in Lagos.
In return, the government handed back a previously abandoned hotel and conference centre project near MM2 to the company, with a deadline of two years for completion.
The new agreement will also allow more flights at MM2 and enable the government to start earning revenue from the terminal.
Another major development is the approval of a Nigerian aircraft leasing company. This initiative aims to support local airlines by making aircraft more accessible.
The company will be funded mainly by private investors, while the government will provide guarantees to reduce risks. This means airlines will no longer depend heavily on foreign leasing companies, which often leads to delays and flight cancellations.
According to Keyamo, the move will help Nigerian airlines grow stronger and compete better with international carriers, which currently dominate most international routes.
In the power sector, the government approved the creation of a Presidential Task Force on Power Sector Reform. The task force will focus on improving electricity supply and addressing long-standing challenges in the sector.
A Special Adviser on Power has also been appointed to support better coordination and policy implementation.
The government says these efforts are aimed at boosting industrial growth and improving living conditions across the country.
Additionally, several road projects across Nigeria were approved or reviewed. The Minister of Works, David Umahi, stated that the government is focusing on durable and cost-effective construction methods.
Some key projects include major highways and reconstruction works, such as the Carter Bridge in Lagos, which will be completely rebuilt to meet modern standards.
The government also confirmed that several completed roads across the country are ready for commissioning.
Overall, the decisions taken at the FEC meeting highlight a strong focus on improving infrastructure, strengthening the economy, and enhancing the quality of life for Nigerians.
