The National Economic Council has approved a 90-day economic action plan aimed at easing the cost of living, improving food affordability and attracting investment across Nigeria.
The plan, proposed by the Federal Ministry of Finance, was endorsed on Thursday at the council’s 161st meeting, chaired virtually by Vice President Kashim Shettima.
According to a statement by Shettima’s Senior Special Assistant on Media and Communications, Stanley Nkwocha, the initiative 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, strengthen transparency and accountability, and track the use of proceeds from fuel subsidy removal.
Speaking at the meeting, Shettima urged state governors and relevant government institutions to ensure that the benefits of President Bola Tinubu’s economic reforms translate into improved living conditions for Nigerians.
He said the success of government policies should be measured by their impact on everyday life, particularly access to affordable transportation, healthcare, jobs 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 also called for stronger cooperation between federal and state governments, warning that their separate responsibilities should not become obstacles to delivering essential services.
On transportation, he said the National Compressed Natural Gas Bus Initiative should be assessed by how much it reduces commuters’ expenses, rather than the number of vehicles deployed.
He stressed that affordability and access must guide the programme, adding that the real value of public transport lies in the journeys it makes possible.
The council consequently 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 also directed relevant authorities to engage transport unions and operators to ensure that savings from the use of the vehicles are 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 response would focus on coordination, detection 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, urging the remaining 15 states to put appropriate mechanisms in place.
The council also directed states to intensify polio eradication efforts, particularly in communities where children were missed during immunisation campaigns and in areas affected by insecurity.
It further acknowledged the potential of livestock development to generate employment, stimulate economic growth and improve livelihoods, resolving to strengthen collaboration between federal and state governments to advance the sector.
