NEC Endorses 90-Day Plan to Lower Living Costs for Nigerians

The National Economic Council (NEC) endorsed a 90-day economic action plan proposed by the Federal Ministry of Finance during its 161st meeting held virtually on Thursday. The meeting was chaired by Vice President Kashim Shettima.

The plan aims to reduce the cost of living, improve food affordability, attract investment, and accelerate project delivery for Nigerians. The Finance Minister and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, presented the plan, which identifies five priority areas: food affordability, tax harmonisation, completion of high-impact projects, resolution of investment bottlenecks, and regulated household support.

The NEC also approved the establishment of a national dashboard to track ongoing projects, emphasizing transparency and accountability regarding the use of funds from fuel subsidy removal. Shettima urged state governors and relevant institutions to ensure that economic reforms translate into improved living conditions, including affordable transportation and healthcare.