President Tinubu Presides Over FEC Meeting, SME Policy Awaits Approval
28 October, 2026
President Bola Tinubu is presiding over a meeting of the Federal Executive Council (FEC) at the Council Chamber of the State House in Abuja.
The meeting began shortly after the President arrived at 2:34 pm on Wednesday, accompanied by Vice President Kashim Shettima.
Some ministers, including those in charge of Defence, Foreign Affairs, the Federal Capital Territory and Aviation, were absent from the meeting.
One of the key items expected to be considered is the proposed National Policy on Small and Medium Enterprises (SMEs), which is awaiting the council’s approval.
The Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Charles Odii, disclosed this on Tuesday during the launch of a free digital training platform designed to help small businesses access government contracts.
Odii said the proposed policy covers the period from 2026 to 2030 and is expected to improve access to government procurement opportunities for micro, small and medium-sized enterprises.
He explained that allowing capable small businesses to compete for public contracts would create more opportunities for entrepreneurs, expand the government’s pool of suppliers and keep more economic value within Nigeria.
According to Odii, the policy recognises public contracts as an important way to help businesses grow, formalise their operations and increase the use of locally produced goods and services.
The policy is awaiting FEC approval before further implementation details can be confirmed.