In a strategic boost to regional infrastructure, the Federal Executive Council (FEC) has approved a $125 million Islamic Development Bank (IsDB) loan to fund critical road projects in Abia State, including 35 kilometres in Umuahia and 126 kilometres in Aba.

Details of the Approval

At its recent meeting chaired by President Bola Tinubu, FEC endorsed the IsDB financing to facilitate road construction across key urban areas in Abia. Wale Edun, Minister of Finance and Coordinating Minister of the Economy, confirmed the approval.
He stated the funds will go toward resurfacing and expanding access roads in both the state capital, Umuahia, and the commercial hub, Aba—boosting trade flow and connectivity.

Nigeria’s Broader Economic Moves

This approval is part of a broader strategy to stabilize and modernize critical sectors. In the same sitting, FEC adopted a plan to restructure the ₦4 trillion debt owed to electricity-generation companies (GenCos), seeking to secure energy stability and reduce systemic grid strain.