The Federal Executive Council (FEC) has approved financing packages totalling ₦215 billion, €200 million and $2.96 billion to support critical infrastructure projects and boost the growth of Micro, Small and Medium Enterprises (MSMEs) across Nigeria.
The approvals, reached during a recent FEC meeting, are part of the Federal Government’s strategy to accelerate economic development, improve infrastructure delivery and expand access to funding for businesses. The financing arrangements are expected to target key sectors, including transportation, energy, digital infrastructure and enterprise development.
Government officials said the investments would help bridge infrastructure deficits, stimulate private-sector participation and create an enabling environment for businesses, particularly MSMEs, which remain major contributors to employment and economic activity in Nigeria.
The financing approvals also align with the administration’s broader economic reform agenda aimed at driving inclusive growth, attracting investments and strengthening the country’s productive capacity through strategic infrastructure and enterprise support initiatives.
