Federal Executive Council Rolls Out 21 Major Policy Initiatives
The Federal Executive Council (FEC), after a marathon meeting presided over by President Bola Tinubu, has rolled out 21 major policy initiatives aimed at boosting the economy, facilitating investments, and promoting the ease of doing business in Nigeria.
Among the initiatives approved are:
1. 48-hour visa policy: The Federal Government is reviewing its visa regime to enable persons who wish to invest in Nigeria to obtain a visa within 48 hours. This is aimed at encouraging investors and tourists and fostering ease of doing business in Nigeria.
2. Cancellation of airport toll payment exemption for very important persons (VIPs): The government has scrapped toll exemptions for VIPs and government officials using airports nationwide. This move is aimed at stopping revenue loss and ensuring the Federal Airports Authority of Nigeria (FAAN) has the means to maintain facilities and provide quality services to users.
3. Ban on sand dredging 10 kilometers from all federal bridges: This measure is aimed at protecting the integrity of federal bridges and ensuring safety.
4. Construction of a new transmission line and emergency restoration systems: The FEC approved about N72 billion for the construction of a new transmission line and emergency restoration systems for other transmission lines to enable quick repair of vandalized and damaged power infrastructure. This is in response to the impact of vandalism on power transmission assets, particularly in the Northeast, where there has been a blackout for the past weeks.
5. N96,297,056,103 billion for the development of bus terminals and other transportation facilities in Abuja: The FEC approved this amount for the development of bus terminals and other transportation facilities in Abuja, including the construction of the Court of Appeal Abuja Division, provision of security operations, and maintenance of backup generators for streetlights along presidential routes and Villa Gate 8 in the Federal Capital City, as well as the upgrade of roads in Kwali Area Council.
These initiatives are part of the Federal Government's efforts to improve infrastructure, attract investment, and enhance the business environment in Nigeria.
