This week’s Federal Executive Council approved key initiatives that will spur sustainable progress for Nigeria
Today, the President Bola Ahmed Tinubu has mandated for the country to migrate towards cleaner and renewable energy sources such as solar and compressed natural gas (CNG). With climate change impacts and rising fuel costs, the President sees the imperative need for better energy sources to reduce carbon emissions, which grossly impact the health and welfare of Nigerians.
In lieu of this, the Minister of Power will be developing tools and programmes to encourage outside investments for the development of solar panels and batteries which we hope will sustainably shape the market.
In line with the President Renewed cities project which aims to provide 50,000 units of homes across the country, FEC also approved a private-public partnership (PPP) based initiative that will transform the nation’s infrastructure and housing sector.
The initiative will unlock private-sector funds, which Nigerians can access for 25-year mortgages at low interest rates and meet the urgent demand for critical infrastructure and affordable homeownership. It will also foster job creation, inclusive growth, and long-term productivity enhancement.
By collaborating with more private sector institutional investors, the President Tinubu-led government seeks to leverage the expertise and capital to accelerate the delivery of vital projects, driving sustainable development and economic progress for all Nigerians.