The National Economic Council has unveiled a 90-day action plan to ease the cost of living in Nigeria through coordinated interventions by the Federal Government and state governments. The measures include making food more affordable, completing key public projects and reducing transportation costs through compressed natural gas and electric vehicles.
The decisions were reached at the council’s 161st meeting, held virtually and presided over by Vice President Kashim Shettima. NEC also approved a national dashboard to track projects across the country and promote transparency in the use of funds saved from the removal of petrol subsidy.
The action plan focuses on five priority areas: food affordability, tax harmonisation, completion of high-impact projects, removal of investment bottlenecks and regulated household support. Finance Minister Taiwo Oyedele said the government was targeting single-digit inflation and interest rates by 2027, stressing the need for coordinated policies and support for vulnerable households.
Shettima urged governors to ensure that economic reforms translated into affordable transportation, improved healthcare, job opportunities and greater financial security. He said the success of the National CNG Bus Initiative should be measured by lower fares and accessibility rather than the number of vehicles deployed.
To advance the initiative, NEC agreed to establish a committee to coordinate financing arrangements, engage transport unions and operators, and develop ways to pass savings from CNG and electric vehicles on to passengers through reduced fares. The council also called for stronger cooperation between federal and state authorities to deliver affordable and sustainable transport.
Meanwhile, Coordinating Minister of Health and Social Welfare Mohammed Ali Pate told the council that 21 states had updated their Ebola preparedness and response plans, while 15 were yet to do so. Following the confirmation of an Ebola case in the Federal Capital Territory, he highlighted the need for effective surveillance, laboratory testing, medical supplies and public communication to contain potential infections.
NEC also directed states to intensify polio eradication efforts, particularly in insecure communities and areas missed during previous vaccination campaigns. It called for timely release of counterpart funds and stronger routine immunisation, while noting that all 36 states had expressed interest in supporting the Federal Government’s livestock development initiatives to promote economic growth and employment.
