The Federal Executive Council (FEC) has approved the contract for the design and construction of a new Bank of Industry (BoI) headquarters at Eko Atlantic City, Lagos.

Minister of State for Industry, Trade and Investment, John Owan Enoh, announced the decision after Wednesday’s Council meeting chaired by President Bola Ahmed Tinubu, describing the project as a significant step toward strengthening Nigeria’s industrial financing capability.

The development aligns with the Nigerian Industrial Policy 2025, which targets increased manufacturing capacity, investment growth, and support for small and medium-sized enterprises.

FEC also cleared other major initiatives, including the procurement of 200 electric buses for the National Automotive Design and Development Council (NADDC), part of efforts to boost local automotive production. Visit www.jocomms.com for more news.