President Tinubu inaugurates National Economic Council

By: Ogunleye Oluwapelumi

President Bola Tinubu has inaugurated the National Economic Council (NEC) at the Council Chamber of the State House in Abuja. The NEC was established by the provisions of the Constitution of the Federal Republic of Nigeria, 1999, as amended; Section 153(1) and Paragraphs 18 & 19 of Part I of the Third Schedule. The task of growing the nation’s economy is quite enormous, and the president urged the council to work together and support his administration’s mandate to transform the economic fortunes of the country.

During the inauguration at 11:25 am, the president directed council members to concretise intervention plans to mitigate the effects of the petroleum subsidy. He also advised that there will be no excuse for failure or complain as all the elected officials asked, campaigned, and danced for the job. Afterward, the president departed the chambers for his office as VP Shettima steered the discussions amongst council members.

The NEC’s primary objective is to advise the president concerning the economic affairs of the federation, and in particular, on measures necessary for the coordination of the economic planning efforts or economic programs of the various governments of the federation.

The NEC’s establishment is a significant step towards Nigeria’s economic transformation, and it’s great to see the president taking steps to grow the nation’s economy. Collaboration is key to achieving success, and the council’s work will be crucial in ensuring the country’s economic growth. With the right measures in place, the nation’s economy can be transformed, and the citizens can enjoy the benefits of a thriving economy.