Federal Govt, 36 states agree 71 ways of rescuing Nigeria’s troubled economy


BuhariThe two-day retreat of the National Economic Council (NEC) ended Tuesday in Abuja with federal authorities and the country’s 36 states agreeing on at least 71 proposals they believe will reinvigorate Nigeria’s wobbling economy.

The NEC is chaired by the Vice President, Yemi Osinbajo, and its membership include the 36 state governors and some Ministers and heads of relevant government agencies.

At the end of the meeting, with theme: ‘Nigerian States: Multiple Centres of Prosperity’, participants took far-reaching decisions to urgently rescue the economy from collapse.

Decisions were taken in the areas of agriculture, solid minerals, revenue generation and fiscal stability, infrastructure and services, investment, industrialisation and enabling monetary policies.

Proposal were also made on survival of the states and on how to invest in the Nigerian people.

A steering committee to implement the proposals was formed at the meeting. It is to be headed by Vice President Osinbajo.

Also constituted is an implementation monitoring committee headed by Zainab Ahmed, Minister of State for Budget and National Planning.

President Muhammadu Buhari had delivered an address at the opening of the retreat, saying there is unanimity of opinion in Nigeria that the nation’s economy is in bad shape.