The NEC set 90-day economic priorities to ease hardship and lower transportation costs

The National Economic Council (NEC) has approved a 90-day action plan designed to tackle the high cost of living, increase access to affordable food and remove barriers to investment, as pressure increases on the government to translate economic reforms into real relief for Nigerians.

The proposal, submitted by the Federal Ministry of Finance, was approved on Thursday at the 161st council meeting, chaired virtually by Vice President Kashim Shettima.

According to a statement by Stanley Nkwocha, Senior Special Assistant to the Vice President on Media and Communications, the plan identifies five priority areas: food affordability, tax harmonization, completion of high-impact projects, removal of investment barriers and regulated household support.

The council also approved a national dashboard to monitor projects nationwide, with provisions for greater transparency and accountability, including tracking the use of funds obtained from the elimination of fuel subsidies.

During the meeting, Shettima urged state governors and related public institutions to focus on the impact of government policies on household welfare rather than relying solely on economic indicators.

He said the ultimate test of the reforms introduced by President Bola Tinubu’s administration would be whether Nigerians experience improvements in terms of transport affordability, health services, employment prospects and financial security.

“The first fruit of prosperity is the confidence to plan your life. Our task is to make that confidence less dependent on luck,” said the Vice President.

Shettima also stressed the need for stronger collaboration between federal and state authorities, and warned that their differences in constitutional responsibilities should not become an obstacle in providing essential services.

“Our separate mandates should not be competing causes. Each governor has knowledge that no federal document can provide,” he said.

The council’s deliberations placed special emphasis on reducing transportation costs, which is a major concern for households and businesses facing rising costs of living.

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Shettima said the effectiveness of the National Compressed Natural Gas Bus Initiative should be judged based on its impact on passenger pockets and access to economic opportunities, not just based on the number of buses put into the system.

“The cost of achieving a livelihood should not consume the livelihood itself. Passenger experience must guide our ambitions, because the value of public transport lies in the journeys made. We must judge success through affordability and access, not just fleet size alone,” he said.

In a related decision, the NEC decided to develop co-financing arrangements between the Federal Government and state governments to accelerate the deployment of electric and compressed natural gas-powered vehicles.

Relevant authorities are also directed to consult with trade unions and transport operators to ensure that savings generated by vehicles translate into lower fares for passengers.

This directive signals an effort to link investments in alternative fuel transportation with measurable reductions in daily passenger costs. However, the impact will depend on implementation, financing arrangements and effective monitoring of tariff reductions.

At the meeting, the Minister of Health and Social Welfare, Prof. Muhammad Ali Pate, briefed members on reports of an Ebola outbreak in the Federal Capital Territory and expressed confidence in Nigeria’s ability to overcome the situation.

Pate said the national response would prioritize coordination between relevant agencies, surveillance at points of entry, laboratory testing, availability of essential response equipment and personal protective equipment, as well as public information.

He revealed that 21 state governments have updated their preparedness and response plans, while urging the remaining 15 states to make appropriate arrangements.

The council also asked state governments to intensify polio eradication efforts, paying special attention to communities where children were missed during immunization campaigns and areas where insecurity has disrupted vaccination activities.

The NEC further recognizes livestock development as a potential source of employment, economic expansion and improved livelihoods.

Members resolved to strengthen cooperation between the Federal Government and state governments to support the development of the sector.

The decisions taken at the meeting placed food affordability, transportation costs, public health preparedness, investment and job creation as the government’s top priorities.

The effectiveness of the 90-day plan will ultimately depend on how quickly the agreed measures are implemented, how clearly responsibilities are assigned to different levels of government, and whether the resulting interventions deliver measurable improvements in the daily lives of Nigerians.