The National Economic Council (NEC) has endorsed a 90-day economic action plan targeting food affordability, investment barriers and the cost of living, alongside measures to improve public transport and track government projects.
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 Shettima’s Senior Special Assistant on Media and Communications, Stanley Nkwocha, the programme has five priorities: making food more affordable, harmonising taxes, completing high-impact projects, removing obstacles to investment and providing regulated support to households.
The council also approved a national dashboard to monitor projects and improve transparency, including tracking the use of funds generated from the removal of the petrol subsidy.
Shettima urged federal and state authorities to ensure that the benefits of President Bola Tinubu’s economic reforms reach households through improved access to affordable transport, healthcare, jobs and financial security.
On public transportation, the council agreed to establish a joint financing framework for federal and state governments to accelerate the deployment of compressed natural gas (CNG) and electric vehicles.
It also directed relevant authorities to consult transport unions and operators to ensure that savings from using the vehicles are reflected in lower fares. Shettima said the success of the National CNG Bus Initiative should be measured by its impact on commuters’ expenses, rather than simply the number of buses deployed.
The meeting also addressed public health preparedness following reports of an Ebola outbreak in the Federal Capital Territory. Minister of Health and Social Welfare Muhammad Ali Pate told the council that Nigeria had the institutional capacity to contain the situation.
Pate said response measures would include coordination among relevant agencies, surveillance at points of entry, laboratory testing, the provision of essential kits and personal protective equipment, and public communication.
He added that 21 state governments had updated their preparedness and response plans, while urging the remaining 15 states to put appropriate arrangements in place.
The council further called on states to strengthen polio eradication efforts, particularly in communities where children had been missed during immunisation campaigns and in areas affected by insecurity.
It also recognised livestock development as a potential source of employment, economic growth and improved livelihoods, resolving to strengthen cooperation between federal and state governments to advance the sector.
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