The National Economic Council (NEC) has endorsed a 90-day economic action plan designed to make food more affordable, reduce living costs and attract investment across Nigeria.
The plan, proposed by the Federal Ministry of Finance, was approved at the council’s 161st meeting on Thursday, chaired virtually by Vice-President Kashim Shettima.
According to a statement by the Vice-President’s Senior Special Assistant on Media and Communications, Stanley Nkwocha, the plan focuses on five priority areas: food affordability, tax harmonisation, completion of high-impact projects, removal of investment bottlenecks and regulated household support.
The council also approved the establishment of a national dashboard to monitor projects nationwide, promote transparency and accountability, and track the use of proceeds from the removal of the fuel subsidy.
Speaking at the meeting, Shettima urged state governors and relevant government institutions to ensure that President Bola Tinubu’s economic reforms translate into tangible improvements in the living conditions of Nigerians.
He said the effectiveness of government policies should be judged by their impact on daily life, including access to affordable transport, healthcare, employment opportunities and financial security.
“The first dividend of prosperity should be the confidence to plan a life. Our task is to make such confidence less dependent on fortune,” the Vice-President said.
Shettima called for stronger collaboration between federal and state governments, stressing that their distinct responsibilities should not impede the delivery of essential services.
“Our separate mandates must not become competing excuses. Each governor carries knowledge that no federal document can supply,” he said.
On transportation, the Vice-President said the National Compressed Natural Gas Bus Initiative should be evaluated based on its ability to reduce commuters’ expenses rather than the number of vehicles deployed.
“The cost of reaching a livelihood should never consume the livelihood itself. The passenger’s experience must guide our ambition, because the value of public transport resides in the journeys it makes possible. We should assess success through affordability and access, rather than fleet size alone,” he said.
The council also resolved to establish a joint financing framework between the Federal Government and state governments to accelerate the deployment of compressed natural gas and electric vehicles.
It directed the relevant authorities to engage transport unions and operators to ensure that savings from the use of the vehicles were reflected in lower fares for commuters.
Meanwhile, the Minister of Health and Social Welfare, Prof. Muhammad Ali Pate, briefed the council on the reported Ebola outbreak in the Federal Capital Territory, assuring members that Nigeria had the institutional capacity to contain the situation.
Pate said the national response would prioritise coordination, screening at points of entry, laboratory testing, the provision of essential kits and personal protective equipment, and public communication.
He disclosed that 21 state governments had updated their preparedness and response plans, while urging the remaining 15 states to establish appropriate mechanisms.
The council also directed state governments to intensify polio eradication efforts, particularly in communities where children had been missed during immunisation campaigns and in areas affected by insecurity.
In addition, it acknowledged the potential of livestock development to generate employment, stimulate economic growth and improve livelihoods.
The council resolved to strengthen cooperation between the Federal Government and state governments to advance the sector.
