MARGARET CHIDERA
ABUJA, Nigeria – The Vice President, Senator Kashim Shettima, has identified stability as one of the primes in the economic agenda of the Tinubu administration for the year 2024.
Shettima said that government at the federal, state and local government levels must remain committed to reevaluating their priorities, streamlining processes, and making bold decisions that would reflect key social issues, including social protection, social investment and nutrition.
Senator Shettima gave the hint at the 136th meeting of the National Economic Council (NEC) held in the Council Chamber of the Presidential Villa, Abuja.
NEC, a statutory body that has the mandate to advise the President on the nation’s economic affairs, is chaired by the Vice President, with the Governors of the 36 states of the federation, the Governor of the Central Bank of Nigeria (CBN), Minister of Finance and other stakeholders as members.
In his opening address at the NEC meeting, Shettima reminded the governors and other members of NEC that the weight of the tough decisions to rescue Nigeria’s economy depends on their cooperation and goodwill.
He noted that what has set President Bola Ahmed Tinubu apart as a Nigerian leader is the courage to embark on fixing the country’s economy through bold reforms.
Identifying stability as a major priority in next year’s economic agenda, the Vice President said, “It took courage to embark on fixing an economy hindered by decades of political lip service. But that’s what has set President Bola Ahmed Tinubu apart: his bold reforms to reposition the economy and save it from further erosion.
Other highlights of the meeting includes the presentation by Kogi State Governor and chairman of the Committee on impact of Flood and Disaster Across the States in Nigeria, Yahaya Bello, where he categorised states based on degrees of damage.
The Governor of Kogi State and chairman of the Committee on impact of Flood and Disaster Across the States in Nigeria, Yahaya Bello, categorised states based on degrees of damage.
He classified Group A States with over 15 points (most affected) including; Anambra, Bauchi, Bayelsa, Benue, Borno, Kogi, Nasarawa, Niger, Rivers, Enugu, Kano, Oyo, Yobe, Zamfara.
Group B States with 10-15 points including; Cross River, Delta, Jigawa, Kwara, Ondo while Group C States with less than 10 points are; Katsina, Abia, Adamawa, Akwa Ibom, Bauchi, Ebonyi, Edo, Ekiti, Gombe, Imo, Kaduna, Katsina, Kebbi, Lagos, Ogun, Osun, Plateau, Sokoto, Taraba, FCT.
NEC further resolved to develop a roadmap for intervention and directed NEMA to provide immediate intervention on relief to affected states.
“Roadmap to be developed and articulated by NEC with the Chairman of the Nigeria Governors Forum.”
The Governor of Kwara State, Abdulraman Abdulrazaq also gave an update on the distribution of palliatives across the States.
He told Council that members are making progress and urged them to re-double efforts as states looked forward for more interventions.
NEC also deliberated on the energy sufficiency for sustainable economic development.
The Council resolved that government at all levels should promote the migration of Heavy-Duty Industries/Transport systems from fossil fuel to Gas Infrastructure.
“Given the new Electricity Act that empowers States and individuals to participate in all components of the energy sector, State Governments should carry out energy audit to determine Energy needs and explore areas for collaboration with the private sector based on their comparative advantage;
“States should develop small hydropower plants, on or off-grid, and solar, for communities and MSMEs;
“The three tiers of Government should institute initiatives for the promotion of attitudinal change regarding energy use, wastage, and theft;
“The government should promote Research and development, Local Content, New Energy (Hydrogen, Biofuels) Prototype Investments for energy sufficiency.”
Council noted that the meeting was successful and approved regular interaction and synergy among commissioners of Economic Planning across the federation.
