NEC backs 90-day plan to cut living costs and make food cheaper

The National Economic Council (NEC) don endorse one 90-day plan wey Federal Ministry of Finance draw up to bring down cost of living, with food prices as the main thing.

The council, wey join federal government and the 36 state governors together, give the backing at its 161st meeting on Thursday. Vice President Kashim Shettima chair the meeting wey hold virtually.

The plan stand on five areas: make food more affordable, harmonise taxes, finish high-impact projects, clear hurdles to investment, and support households in a regulated way. Dem no make public the details of how each one go work.

For ordinary Nigerian, the test go be whether market prices, transport fares and everyday costs actually fall. The statement from Presidency wey announce the plan no give figures or timelines beyond the 90 days.

Wetin else the council decide

NEC approve one national dashboard to track projects across the country. The idea na to show clearly how money from the removal of fuel subsidy dey used.

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, present the plan and the country economic outlook. He talk say the next stage of reforms go need federal and state governments to work together, and name single-digit inflation and interest rates by 2027 as targets.

Shettima tell governors say the gains of President Bola Tinubu reforms must reach people daily lives, through cheaper transport, better healthcare, jobs and financial security.

"The first dividend of prosperity should be the confidence to plan a life," he talk.

On the Compressed Natural Gas (CNG) bus programme, the Vice President talk say dem suppose judge am by whether fares drop and commuters fit afford and reach the buses, not by how many vehicles dey road.

"The cost of reaching a livelihood should never consume the livelihood itself," he talk.

The council agree say federal and state governments go set up joint financing arrangement to speed up use of CNG and electric vehicles. It also talk say make dem bring transport unions and operators in so that savings from the switch show as lower fares. Committee go set up to work out the arrangement.

Ebola, polio and livestock

The Minister of Health and Social Welfare, Prof. Muhammad Ali Pate, brief the council on the reported Ebola outbreak for Federal Capital Territory. He talk say Nigeria get systems to contain am and set out the response: coordination, screening at entry points, laboratory testing, supplies of kits and protective equipment, and public communication.

He talk say 21 states don update their response plans and ask the remaining 15 to do the same without delay.

On polio, the council direct states to review campaigns, especially where children miss and for communities wey insecurity affect. It call for counterpart funds to release on time and for closer work with security agencies.

The council also take the report of its committee on livestock development, wey Kebbi State Governor Nasir Idris chair, and agree say federal and state governments suppose work together to grow the sector and create jobs.