Nigeria’s National Economic Council (NEC) has endorsed a 90-day economic action plan to reduce cost of living, improve food affordability, and attracting investment in the country.
The action plan, which is proposed by Nigeria’s Federal Ministry of Finance to consolidate gains from President Bola Tinubu’s economic reforms, will accelerates the delivery of projects with direct benefits to Nigerians.
The council’s endorsement followed a presentation by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, during its 161st meeting held virtually.
The meeting was chaired by Vice President Kashim Shettima.
Shettima explained that Tinubu’s economic reform programme was designed to achieve broader national prosperity.
He said that governments at all levels have a responsibility to translate its objectives into improved living conditions for Nigerians.
Shettima urged the governors and relevant government institutions to ensure that the gains of the administration’s economic reforms translate into affordable transportation, improved healthcare, employment opportunities and greater financial security for Nigerians.
According to him, the success of economic policies must ultimately be measured by their impact on citizens’ daily lives.
He stressed that the responsibility of government extends beyond announcing reforms to building institutions that enable Nigerians to plan their futures with confidence.
”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 council’s deliberations on transportation, healthcare, police reform, and livestock development represent critical decisions about the quality of life Nigerians should expect from economic progress.
“Our separate jurisdictions must serve a common public interest,” Shettima said.
He emphasised that Nigeria’s federal structure must strengthen cooperation rather than become an obstacle to the delivery of essential services.
On the National Compressed Natural Gas (CNG) Bus Initiative, Shettima underscored the need for state governments to support affordable transportation systems that would reduce the financial burden on commuters.
He maintained that the success of the programme should be determined by affordability and accessibility 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.
GIK/APA