FEC approves initiative to transform Nigeria’s infrastructure, housing sectors

INVESTIGATION: TETFund’s N3.8 billion training contract triggers procurement controversy, concernsINVESTIGATION: How Nigerian soldiers killed unarmed civilians in Kaduna communitySPECIAL REPORT: Nigerian football clubs in dilemma amidst economic downturnHard hit by climate change, farmers in Nigeria’s ‘food basket’ face new foesThe Federal Executive Council has approved an initiative aimed at transforming the nation’s infrastructure and housing sector.

“This alliance signifies a significant step towards driving sustainable development and economic growth in Nigeria by leveraging private-sector resources and expertise in strategic areas of need,” the minister said.At Premium Times, we firmly believe in the importance of high-quality journalism. Recognizing that not everyone can afford costly news subscriptions, we are dedicated to delivering meticulously researched, fact-checked news that remains freely accessible to all.

Would you consider supporting us with a modest contribution on a monthly basis to help maintain our commitment to free, accessible news?The initiative aims to further strengthen the Federal Mortgage Bank and the Federal Housing Authority, enabling both public and private entities to fulfil their housing obligations. This collaboration is expected to boost the initial phase of the President’s Renewed Hope Cities project, with the aim of providing 50,000 units of homes across the country.

The initiative also aims to ensure private-sector involvement in project governance, cost management, and asset delivery, offering tangible benefits to Nigerians while safeguarding investor interests. The infrastructure focus includes power generation, toll roads, and railway projects to align with the government’s economic goals.

By collaborating with private institutional investors, the President Tinubu-led government seeks to leverage the expertise and capital of private investors to accelerate the delivery of vital projects, driving sustainable development and economic progress for all

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