NEC sets 90-day economic priorities to ease hardship, lower transport costs

The National Economic Council (NEC) in Nigeria has unveiled a 90-day action plan aimed at alleviating the burden of high living costs and enhancing access to affordable food for Nigerians. The plan, endorsed by the NEC during its 161th meeting presided over by Vice President Kashim Shettima, outlines five key priorities to be addressed: food affordability, tax harmonization, completion of high-impact projects, removal of investment barriers, and regulated household support.

Stanley Nkwocha, a senior special assistant to the Vice President on media and communications, announced the plan in a statement. The NEC also approved the establishment of a national dashboard to monitor progress on these initiatives, with a focus on transparency and accountability, particularly in the context of funds generated from the removal of petrol subsidies.

During the meeting, Vice President Shettima emphasized that the true measure of the government's reforms would be the tangible improvement in the quality of life for Nigerians, particularly in areas such as transportation affordability, healthcare, employment opportunities, and financial security. He stressed the importance of strong collaboration between federal and state authorities, warning against the potential pitfalls of differing constitutional responsibilities becoming barriers to essential services.

The NEC further resolved to work on developing a joint financing arrangement between the Federal Government and state governments to expedite the deployment of compressed natural gas (CNG) powered and electric vehicles. This initiative aims to reduce transportation expenses, which are a significant concern for both households and businesses grappling with rising living costs.

The effectiveness of the 90-day plan hinges on the prompt implementation of the approved measures, clear assignment of responsibilities across different levels of government, and the tangible improvements in the daily lives of Nigerians.