The FEC meeting, which began on Monday and was presided over by President Bola Tinubu, also approved memos from the ministries of works, communications, power and FCT.
The Federal Executive Council, presided by President Bola Tinubu, on Tuesday, approved memos from the Ministries of Aviation, Communications, Power, FCT and Works.
The Minister of Information and National Orientation, Mohammed Idris, disclosed this at the end of the meeting in Abuja, adding that the Ministry of Interior's memo on the review of the new visa regime was also approved.
Mr Idris said that the new visa regime was to address the lacuna and challenges faced by citizens and foreign investors coming or going out of the country.
He said the new visa process would now be completely online, with background security checks of applicants done within 48 hours, adding that this would commence in the next four weeks.
Minister of Aviation, Festus Keyamo, disclosed the ministry's approval to involve the withdrawal of exemption of payment of tickets by some highly placed Nigerians at the nation's airports.
He said the former system, which had cost loss of revenue, had been bought into by 1the president and the vice president, respectively.
"The ministry has been losing huge revenue that ordinarily should not be. With the new system, everybody coming into the nation's airports must pay the toll gate fees. Already the president and the vice president have agreed to be part of those that would pay." he said.
On the recurrent runway incidents, Mr Keyamo said that the ministry would continue on the path of ensuring adherence to proper regulation while supervision under him would be sustained.
"There is no way I will allow the safety of air passengers to be jeopardised under my watch. Any airline that is consistently found wanting in this issue will be sanctioned appropriately; as in the case of the Dana Airline " he said.'
The Minister of Communication, Bosun Tijani, said that a Special Purpose Vehicle would be set up for the construction of 90,000 fibre cables across the country in the next three years to improve internet service and its cost.
According to Mr Tijani, this cable forms a part of the government's strategy aimed at connecting local, sub-national and federal governments into a system for accountability and transparency in governance and to improve service delivery in the areas of health, education, and revenue generation among others.
Also, Minister of Power, Adelabu Adebayo, said the council approved the provision of earthing, reactor and emergency equipment for the sector to increase power generation, transmission and distribution in the country.
Mr Adebayo said that these contracts are expected to strengthen the power sector reforms, reduce downtime and increase access to electricity for Nigerians.
He said the contract would also address the decay in infrastructure in the power sector, which had been the bane of low power distribution and transmission over time.
The council, he said, also approved the initiative of the ministry to use complementary energy sources like solar and wind to add to the efficiency of the national grid.
He said that solar would continue to be used in the sunny parts of the country while wind energy would be integrated in the southern coastal parts.
The FCT Minister of State, Mariya Mahmoud, disclosed that the council approved three memos on the development of bus terminals, the building of the Appeal Court and the operation and maintenance of street light generators in the territory.
Minister of Work Dave Umahi also disclosed council approval of 12 memos bordering on the redesign and continuation of road projects across the country, adding that the projects underwent adequate bidding and followed due process.
Mr Umahi said the contract for the Lagos-Calabar was done through due process contrary to some reports claiming otherwise, adding that the government was concerned about having value for all funds allocated for any project.
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The minister of Finance, Wale Edun, said that the government would continue to prioritise the infrastructural needs of the nation for better future development of the country as well as to improve the living standard of the citizens.
In this way, he said, the federal government was working out special funding to develop the housing and infrastructural sub-sector of the economy, adding that this would involve the private sector and development partners' financing.
Mr Edun said the government would leverage the huge funds under the pension scheme, Sovereign Wealth Fund, Ministry of Finance Incorporated, insurance and other financial options to resuscitate the sector and make housing more accessible and affordable to ordinary citizens at a low-interest rate.
(NAN)
