Tinubu inaugurates NEC, charges members not to fail Nigerians

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Tinubu inaugurates NEC, charges members not to fail Nigerians

President Bola Tinubu on Thursday inaugurated Nigeria’s top economic advisory body, the National Economic Council (NEC), statutorily chaired by Vice-President Kashim Shettima.

The inauguration, at the Council Chamber, Presidential Villa, comes a week after the President directed NEC to meet to come up with interventions to mitigate the effects of the petroleum subsidy.

In his remarks during the inauguration, Tinubu further charged the Council, which has the 36 State Governors as members, among others, to support his administration in transforming the economic fortunes of the country.

He stressed that the task of growing the nation’s economy is quite enormous, but there should be no excuse for failure, as he remain resolute in his commitment to delivering on his promises to Nigerians.

According to him, the task of turning around Nigeria’s economy from the age-long status of “potential” to “pragmatic’’ had started with the removal of fuel subsidy and unification of exchange rates, urging the 36 State Governors to join the fray.

President Tinubu listed eight priority areas for urgent attention and called for collective frameworks that will stimulate a buoyant economy that meets the needs of the poor and vulnerable.

The President assured the governors that the administration would address the issues that devalue the lives of Nigerians, with a focus on security, economy, jobs, agriculture, infrastructure, monetary policy, and fuel subsidy.

According to him, “It is worthy of note that the monthly meeting of NEC chaired by Vice President Kashim Shettima has remained officially the economic platform for robust dialogue among the federal government, the 36 State Governors, the CBN, and other key stakeholders.

“In my inaugural speech of May 29th, 2023, I expressed this administration’s commitment to improving the lives of Nigerians in a manner that not just reflects our humanity, but encourages compassion towards one another and duly rewards our collective efforts to resolve the social ills that seek to divide us.

“I also listed the principles that will guide our administration and it is as follows: to be impartial and govern according to the constitution and ensure the rule of law; to defend the nation from terror and all forms of criminality; to promote economic growth and development through job creation, food security and putting an end to poverty; to prominently feature women and youths in all our activities; to take proactive steps such as championing a credit culture and; to discourage corruption while strengthening the effectiveness and efficiency of various anti-corruption agencies,’’ the President said.

President Tinubu noted that policies and programmes of the government will be driven by compassion for the less privileged, and for more inclusivity, women and youths will be involved in the design and implementation of issues that impact their lives.

“It is evident that the task of growing our economy is enormous but you and I asked for it. We campaigned for it, we even danced for it, we begged for it, so we have no reason to complain. We must harness the growth potential of Nigeria and bring about serious development that will take us from ‘a potential nation’ to a pragmatic economic development in a rapid manner,’’ he noted.

President Tinubu urged NEC to stimulate ideas, through robust discussions, that will improve the livelihood of Nigerians, while highlighting the exigency for interventions on poverty.

“Members of this country are behind us, they want reform and they want it quick to impact their lives,’’ he added.

Rallying the governors for national development, President Tinubu said, “Collaboration is not a crime, please let’s do it.’’

The President noted that the three tiers of government will need to be involved in economic development, including the Local Government Councils, in order to ensure inclusiveness, collectivity, and ownership of policies and programmes.

“The National Economic Council was established by the provision of the constitution of the Federal Republic of Nigeria as amended. As one of the key bodies of the Federal Government, NEC has the mandate to advise the President on the economic affairs of the federation on appropriate measures for coordination of economic plans and programmes of the government Ministries, Departments, and Agencies,’’ he said.

The President emphasized that significant steps had been taken by ending the fuel subsidy and unifying the foreign exchange rate.

“This government will continue to transform the fortunes of our nation and bring about unprecedented development through good governance. We are committed to sustainable initiatives and programmes that will stimulate the rejuvenation of the economy without causing inflation.

“The plans and ideas we have presented, underscore our confidence and ability to meet the challenges of the day and pave the way for a better future,’’ President Tinubu said.

The NEC meets monthly and has the mandate to “advise the President concerning the economic affairs of the Federation, and in particular on measures necessary for the coordination of the economic planning efforts or economic programmes of the various Governments of the Federation.”

Membership of the NEC comprises the 36 State Governors, the Minister of the Federal Capital Territory, the Attorney General of the Federation, the Governor of the Central Bank of Nigeria and other co-opted government officials.

Those in attendance at this maiden meeting in the Tinubu presidency include Governors of Kwara, Abdulrahman Abdulrazaq; Osun, Ademola Adeleke; Kogi, Yahaya Bello; Ekiti, Biodun Oyebanji; Nasarawa, Abdullahi Sule; Akwa Ibom, Umo Eno; Enugu, Peter Mbah; Cross River, Bassey Otu; Plateau, Caleb Muftwang; Kebbi, Nasir Idris; Katsina, Aliyu Radda; and Benue Hycinth Alia.

Others are Governors of Zamfara, Dauda Lawal; Ogun, Dapo Abiodun; Anambra Charles Soludo; Yobe, Mai Mala Buni; Taraba, Agbu Kefas; Delta, Sheriff Oborevwori; Rivers, Siminalayi Fubara; Niger, Mohammed Bago; and Sokoto, Ahmad Aliyu.

The rest are Ebonyi, Francis Nwifuru; Kaduna, Uba Sani; Edo, Godwin Obaseki; Abia, Alex Otti; Bayelsa, Douye Diri; Kano, Abba Yusuf; Bauchi, Bala Mohammed; Oyo, Seyi Makinde; as well as Borno State Deputy Governor, Umar Kadafur; and Deputy Governor of Ondo, Lucky Ayedatiwa.

The Secretary to the Government of the Federation, George Akume; the Chief of Staff, Femi Gbajabiamila; the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari; Acting Accountant General of the Federation, Oluwatoyin Madein; Acting Governor of Central Bank, Folashodun Shonubi; Permanent Secretaries Budget and National Planning, Federal Capital Territory Administration, and State House.