By Lizzy Chirkpi
The National Economic Council (NEC) has endorsed a 90-day economic action plan designed to ease the financial burden on Nigerians, improve food affordability and translate the gains of President Bola Tinubu’s economic reforms into tangible benefits for households and businesses.
Proposed by the Federal Ministry of Finance, the plan also seeks to attract new investment, remove barriers to economic activities and accelerate the completion of projects expected to deliver direct benefits to citizens.
The endorsement followed a presentation by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, at NEC’s 161st meeting, held virtually on Thursday and chaired by Vice President Kashim Shettima.
According to a statement by Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications in the Office of the Vice President, the plan focuses on five priority areas: food affordability, tax harmonisation, completion of high-impact projects, removal of investment bottlenecks and regulated household support.
The initiative comes amid mounting pressure on governments to ensure that macroeconomic gains translate into relief for Nigerians struggling with the rising cost of living.
Addressing members of the council, Shettima said the success of the administration’s economic reforms should be measured by their impact on the daily lives of citizens, rather than economic indicators alone.
He urged state governors and relevant institutions to prioritise practical interventions that would improve access to affordable transportation, healthcare, employment opportunities and financial security.
“The first dividend of prosperity should be the confidence to plan a life. Our task is to make such confidence less dependent on fortune,” he said.
The Vice President stressed the need for coordinated action among the three tiers of government, warning that institutional boundaries should not hinder the delivery of essential services.
“Our separate jurisdictions must serve a common public interest,” he said.
Shettima identified transportation, healthcare, police reform and livestock development as critical areas requiring sustained attention, noting that progress in these sectors would help determine whether economic reforms improve the living conditions of ordinary Nigerians.
On transportation, he said public investment should be assessed by its ability to reduce commuting costs and expand access to economic opportunities.
“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.
He also urged state governors to bring their knowledge of local economic conditions to national policymaking, stressing that effective implementation would require clearly defined responsibilities and workable agreements among federal, state and local authorities.
“Our separate mandates must not become competing excuses. Each Governor carries knowledge that no federal document can supply,” he said.
The 90-day action plan is also intended to strengthen fiscal coordination, remove structural barriers to investment and business expansion, and fast-track projects with measurable economic and social benefits.
Shettima said government policies should ultimately be judged by their ability to improve citizens’ living conditions, expand access to opportunities and strengthen public confidence in government institutions.
“Nigerians deserve institutions on which they can organise their lives. Providing that assurance is among the most consequential uses of public authority. That is the assurance we owe them,” he said.
With NEC’s endorsement, the relevant ministries, departments and agencies, alongside state and local governments, are expected to translate the five priority areas into practical interventions, with affordability, accessibility and improved living conditions at the centre of implementation.