The Nigerian federal government has approved a N130 billion investment package aimed at boosting power infrastructure and supporting micro, small, and medium enterprises (MSMEs) in the North-East region.
The decision was made by the Governing Board of the North East Development Commission (NEDC), marking a significant allocation toward economic rehabilitation in the area.
The funding is designed to address critical gaps in energy supply while fostering local business growth.
By targeting both infrastructure and enterprise development, the initiative seeks to create a more stable operating environment for companies in the region, which has historically faced challenges due to security and logistical constraints.
This approval follows a pattern of increased government spending on national infrastructure.
Recent moves include a N30 billion commitment for emergency repairs and long-term rehabilitation of the Eko Bridge, as well as a N286 billion package for maritime infrastructure and port modernization.