FEC approves new BoI HQ at Eko Atlantic City

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The Federal Government has approved the design and construction of a new headquarters for the Bank of Industry at Eko Atlantic City, Lagos, marking a major step in the FG’s drive to strengthen Nigeria’s industrial and financial infrastructure.

The approval was announced by the Minister of State for Industry, Trade and Investment, Senator John Enoh, on Wednesday, while briefing State House correspondents after the Federal Executive Council meeting presided over by President Bola Tinubu in Abuja.

Enoh said the council considered five key memoranda related to the ministry, with three focused on industrial development and two on trade and investment. Among them, the BoI headquarters project received formal approval.

“Council approved the award of contract for the design and build of the Bank of Industry headquarters in Eko Atlantic City,” he said.

The new headquarters is expected to serve as a central hub for the BoI’s expanded role in financing industrial growth, small and medium-scale enterprises (SMEs), and export-oriented manufacturing.

In a related development, the FEC also approved the purchase of 200 electric buses for the National Automotive Design and Development Council at a cost of N58bn.

Enoh explained that the project aligns with the administration’s strategy to strengthen Nigeria’s automotive ecosystem, promote cleaner energy solutions, and drive industrial expansion.

These approvals highlight the Federal Government’s commitment to modernising Nigeria’s industrial and financial infrastructure while promoting sustainable development and local industry growth.

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