The National Economic Council (NEC) has endorsed a 90-day economic action plan meant to reduce the cost of living, make food more affordable and speed up investment and infrastructure delivery.
By: Tunji Okunlola
Finance Minister and Coordinating Minister of the Economy Taiwo Oyedele presented the plan at the Council’s 161st meeting, held virtually on Thursday and chaired by Vice President Kashim Shettima.
The plan has five priority areas: food affordability, tax harmonisation, completing high-impact projects, removing investment bottlenecks and regulated household support.
NEC also approved a national dashboard to track projects across the country and make the use of funds more transparent, particularly proceeds from the removal of the petrol subsidy.
Oyedele expressed optimism about the progress of President Bola Tinubu’s reforms, naming single-digit headline inflation and interest rates by 2027 as key policy goals.
Shettima: judge policy by daily life
Shettima urged state governors and government institutions to make sure reforms deliver real benefits, including affordable transport, better healthcare, jobs and greater financial security. He said policy should be judged by its effect on citizens’ daily lives, not by announcements or headline indicators. “The first dividend of prosperity should be the confidence to plan a life,” he said.
On transport, he said the National Compressed Natural Gas (CNG) Bus Initiative should be measured by affordability and access, not the number of vehicles deployed.
NEC resolved to set up a joint federal-state financing framework to speed up the rollout of CNG and electric vehicles. It directed the relevant authorities to engage transport unions and operators so that savings from alternative fuels lead to lower fares. A committee will coordinate the financing arrangement and propose ways to improve access to affordable, sustainable transport.
Ebola preparedness and polio
Health Minister Prof. Muhammad Ali Pate briefed the Council on Nigeria’s response to the reported Ebola situation in the Federal Capital Territory. He said the country has the institutional capacity to contain it, and outlined measures on coordination, screening at points of entry, laboratory testing, medical supplies and public communication.
He commended 21 state governments for updating their preparedness plans and urged the other 15 to set up response mechanisms.
On polio, NEC reviewed the report of its ad hoc committee chaired by Gombe State Governor Muhammadu Inuwa Yahaya. It directed states to carry out post-campaign reviews, especially in communities where children were missed, and called for timely release of counterpart funding, stronger routine immunisation and better coordination with security agencies and traditional rulers.
Livestock
The Council also considered a livestock development report from its ad hoc committee chaired by Kebbi State Governor Nasir Idris. It noted the sector’s potential for jobs, livelihoods and growth, and that all states had expressed interest in supporting the Federal Government’s livestock initiatives. Members resolved to strengthen federal-state cooperation to speed up reforms.
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