NEC Unveils 90-Day Plan To Ease Hardship, Cut Living Costs

The National Economic Council (NEC) has approved a 90-day emergency economic action plan aimed at reducing the cost of living, improving food affordability and accelerating the delivery of projects expected to improve the welfare of Nigerians.

The Council also approved the establishment of a national dashboard to track government projects across the federation and promote transparency and accountability in the utilisation of savings from the removal of petrol subsidy.

The decisions were reached on Thursday during the 161st meeting of NEC, held virtually and presided over by Vice President Kashim Shettima, following a presentation by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele.

The Council further agreed on a joint financing arrangement between the Federal Government and state governments to accelerate the deployment of compressed natural gas (CNG) and electric vehicles, directing that savings from their adoption must translate into lower transportation fares for commuters.

According to a statement by the Senior Special Assistant to the President on Media and Communications in the Office of the Vice President, Stanley Nkwocha, the 90-day action plan identifies five priority areas for immediate intervention.

The areas are food affordability, tax harmonisation, completion of high-impact projects, removal of investment bottlenecks and regulated household support.

The measures are designed to consolidate the gains of President Bola Ahmed Tinubu’s economic reforms and ensure that improvements in macroeconomic indicators translate into tangible relief for households and businesses.

Presenting the economic outlook, Oyedele expressed optimism about the administration’s reform programme, identifying the reduction of headline inflation and interest rates to single digits by 2027 as major policy objectives.

He stressed that achieving these targets would require coordinated implementation of economic policies across federal and state institutions, alongside interventions to address the immediate challenges confronting Nigerians.

The minister also highlighted the importance of improved fiscal coordination, targeted support for vulnerable households and the removal of obstacles hindering investment and economic expansion.

Shettima Tasks Governors On Welfare

Addressing the Council, Shettima challenged state governors to ensure that the benefits of the administration’s economic reforms were reflected in affordable transportation, improved healthcare, employment opportunities and greater financial security for Nigerians.

He said the success of economic reforms should be measured not only by official pronouncements or statistical improvements, but also by their impact on the everyday lives of citizens.

“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 maintained that the administration’s economic transformation agenda would achieve its objectives only when Nigerians could access essential services, pursue productive livelihoods and make meaningful plans for their future without excessive uncertainty.

According to him, discussions on transportation, healthcare, police reform and livestock development were fundamentally about improving living standards and making government institutions more responsive to citizens’ needs.

“Our separate jurisdictions must serve a common public interest,” he said, urging governors to strengthen cooperation with the Federal Government in implementing policies that directly affect Nigerians.

On affordable transportation, the Vice President warned against measuring the success of the National CNG Bus Initiative solely by the number of vehicles deployed, insisting that lower fares and accessibility should remain the primary objectives.

“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.

Shettima said Tinubu’s economic reforms were intended to lay the foundation for broader national prosperity, but stressed that governments at all levels must demonstrate the capacity to translate policy objectives into improved living standards.

“His Excellency, President Bola Ahmed Tinubu, GCFR, has made economic reform the instrument of a larger national ambition. Our contribution must give that ambition social depth and productive strength,” he said.

He also urged governors to bring their understanding of local economic and social realities into national policy decisions, noting that effective implementation required clearly defined responsibilities among the three tiers of government.

“Our separate mandates must not become competing excuses. Each Governor carries knowledge that no federal document can supply,” the Vice President said.

Shettima challenged NEC members to assess every policy proposal based on its potential to reduce uncertainty, create opportunities and strengthen public confidence in government.

“Nigerians deserve institutions on which they can organise their lives. Providing that assurance is among the most consequential uses of public authority. That is the assurance we owe them,” he added.

FG, States To Pursue Affordable Transport

The Council also considered a presentation on the National Affordable CNG Transit Programme by the Chairman of the Presidential Initiative on Compressed Natural Gas and Electric Vehicles, Ismaeel Ahmed.

Following the presentation, NEC resolved to establish a joint financing framework between the Federal Government and state governments to support the nationwide deployment of CNG and electric vehicles.

The Council insisted that the initiative must deliver measurable reductions in transportation costs rather than merely increase the number of alternative-energy vehicles in operation.

Relevant authorities were consequently directed to engage transport unions and operators to ensure that savings from the use of CNG and electric vehicles were passed on to passengers through lower fares.

NEC also agreed to establish a committee to coordinate the proposed financing arrangement, engage stakeholders and develop practical mechanisms for delivering affordable, accessible and sustainable transportation.

NEC Reviews Ebola Preparedness

Meanwhile, the Council received a briefing on the Ebola situation in the Federal Capital Territory from the Coordinating Minister of Health and Social Welfare, Professor Muhammad Ali Pate.

Pate assured members that Nigeria had the institutional capacity to contain the disease and prevent a major public health crisis.

He outlined measures being implemented by the Federal Ministry of Health in collaboration with relevant agencies and stakeholders to strengthen the national emergency response.

The minister identified effective coordination, surveillance and detection at points of entry, laboratory testing, the provision of essential medical kits and personal protective equipment, and strategic public communication as critical components of the containment strategy.

He disclosed that 21 states had updated their Ebola preparedness and response plans, while urging the remaining 15 states to urgently put the necessary mechanisms in place to respond to potential infections.

The briefing followed the confirmation of an Ebola case in the FCT, which prompted the activation of emergency public health response measures.

NEC Seeks Stronger Polio Eradication Efforts

In another development, NEC directed state governments to intensify efforts to eradicate polio, particularly in communities affected by insecurity and areas where children had been missed during previous immunisation campaigns.

The directive followed a report by the NEC Ad Hoc Committee on Polio Eradication, chaired by Gombe State Governor Muhammadu Inuwa Yahaya.

The Council directed states to conduct comprehensive post-campaign reviews to identify gaps in immunisation coverage and develop strategies to reach children previously excluded from vaccination exercises.

It also emphasised the timely release of counterpart funds, the strengthening of routine immunisation programmes and improved cooperation with security agencies to facilitate access to vulnerable communities.

NEC stressed that sustained commitment from governors, traditional rulers and security agencies would be essential to achieving complete polio eradication in Nigeria.

Council Backs Livestock Development

On livestock development, the Council received a report from its Ad Hoc Committee on Livestock Development, chaired by Kebbi State Governor Nasir Idris.

NEC acknowledged the sector’s potential to stimulate economic growth, generate employment and improve livelihoods.

The Council noted that all 36 states had indicated interest in supporting the Federal Government’s livestock development initiatives and resolved to strengthen collaboration to accelerate reforms in the sector.

The decisions form part of NEC’s broader efforts to improve cooperation between the Federal Government and state governments in addressing economic pressures, strengthening essential services and ensuring that the benefits of ongoing reforms reach ordinary Nigerians.