National Economic Council Postpones Scheduled 150th Meeting
National Economic Council Postpones Scheduled 150th Meeting
The National Economic Council (NEC) has postponed its meeting originally slated for yesterday.
Chaired by Vice President Kashim Shettima, NEC is constitutionally mandated to advise the President on matters relating to the nation’s economic affairs, particularly on strategies needed to coordinate the economic planning efforts and programmes of the various tiers of government.
Its membership comprises the 36 state governors, the Governor of the Central Bank of Nigeria, and other co-opted government officials.
At its 149th meeting held in April, the National Economic Council (NEC) approved several key initiatives aimed at revitalising Nigeria’s economy, including the establishment of a Cotton, Textile, and Garment Development Board. The Council also endorsed fresh strategies for agribusiness expansion and livestock transformation projects, which are projected to generate as much as $90 billion in economic value by the year 2035. These moves are part of broader efforts to diversify the economy, boost non-oil exports, and create sustainable jobs across the agricultural value chain.
However, the 150th NEC meeting, which was scheduled to take place yesterday, was postponed without an official explanation. While no formal reason was given for the deferment, it is worth noting that at least 11 state governors were in Kaduna with President Bola Tinubu for the commissioning of infrastructure and development projects. Their presence at the event may have made it difficult to secure the quorum or participation needed for the NEC meeting to proceed effectively.
NEC, chaired by Vice President Kashim Shettima, plays a critical role in shaping national economic policy by advising the President on economic affairs and ensuring alignment between federal and state-level economic planning and development initiatives.
