Economic Relief: NEC Approves 90-Day Action Plan to Reduce Living Costs

Post created on 10:17 am

The National Economic Council (NEC) has endorsed a comprehensive 90-day economic action plan submitted by the Federal Ministry of Finance to solidify gains from ongoing federal structural reforms and alleviate economic pressure on Nigerian households.

​The Council gave the approval on Thursday during its 161st meeting, held virtually and chaired by Vice President Senator Kashim Shettima.

​Presented by the Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, the 90-day intervention strategy prioritizes five core areas: enhancing food affordability, harmonizing federal and state tax structures, resolving key investment bottlenecks, expediting high-impact infrastructure delivery, and providing regulated household support measures.

​Speaking during the session, Vice President Shettima noted that while President Bola Ahmed Tinubu’s economic framework is aimed at long-term national growth, state and federal authorities hold a collective mandate to translate policy objectives into immediate, tangible improvements in living standards.

​To ensure strict compliance and operational transparency, NEC also approved the launch of a national real-time project tracking dashboard. The platform will track ongoing federal and subnational infrastructure projects with a specific focus on monitoring the deployment of savings realized from fuel subsidy removal across the federation.