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The National Economic Council (NEC), led by Vice President Kashim Shettima, has been officially inaugurated by President Bola Ahmed Tinubu. This is the first NEC meeting since Tinubu’s directive to come up with interventions to alleviate the impact of the removal of petroleum subsidies.

President Tinubu has tasked the council with generating ideas to enhance his administration’s efforts in transforming the country’s economic fortunes. He emphasized that although the task of growing the nation’s economy is substantial, failure is not an option. The President reaffirmed his commitment to fulfilling promises made to the Nigerian people.

The NEC meeting commenced immediately after the inauguration and will take place on a monthly basis. The council’s mandate is to advise the President on economic matters concerning the Federation, especially regarding the coordination of economic planning efforts among the various tiers of government.

The NEC consists of the 36 State Governors, the Governor of the Central Bank of Nigeria, and other co-opted government officials. Several dignitaries were in attendance when the meeting commenced, including Governors Abdulrahman Abdulrazaq of Kwara, Ademola Adeleke of Osun, Yahaya Bello of Kogi, and Biodun Oyebanji of Ekiti.

Also present were Abdullahi Sule of Nasarawa, Umo Eno of Akwa Ibom, Peter Mbah of Enugu, Bassey Otu of Cross River, Caleb Muftwang of Plateau, Nasir Idris of Kebbi, Aliyu Radda of Katsina, and Hycinth Alia of Benue. Additionally, Inuwa Yahaya of Gombe, Dauda Lawal of Zamfara, and Dapo Abiodun of Ogun were in attendance.

The meeting was graced by Charles Soludo of Anambra, Mai Mala Buni of Yobe, Agbu Kefas of Taraba, Sheriff Oborevwori of Delta, Siminalayi Fubara of Rivers, Mohammed Bago of Niger, and Ahmad Aliyu of Sokoto. Also present were Francis Nwifuru of Ebonyi, Uba Sani of Kaduna, Godwin Obaseki of Edo, Alex Otti of Abia, Douye Diri of Bayelsa, Abba Yusuf of Kano, Bala Mohammed of Bauchi, Seyi Makinde of Oyo, Umar Kadafur of Borno, and Lucky Ayedatiwa, Deputy Governor of Ondo State.

Aside from the governors, other key figures present at the meeting included the Secretary to the Government of the Federation, George Akume; 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; the Acting Governor of the Central Bank, Folashodun Shonubi; as well as Permanent Secretaries from the Budget and National Planning, Federal Capital Territory Administration, and State House.