The National Economic Council has endorsed a 90-day action plan aimed at easing the cost of living, improving food affordability and attracting investment, as the Federal Government seeks to make the benefits of its economic reforms more visible to Nigerians.
The decision followed a presentation by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, at the council’s 161st meeting on Thursday. The meeting was held virtually and chaired by Vice-President Kashim Shettima.
The plan outlines five priority areas: food affordability, tax harmonisation, completion of high-impact projects, removal of investment bottlenecks and regulated household support. These priorities are intended to improve coordination between government institutions and accelerate interventions that can directly affect households and businesses.
The council also approved a national dashboard to monitor projects across the federation. The proposed platform is expected to strengthen transparency and accountability by tracking project implementation and providing clearer information on the use of public funds, including proceeds saved from the removal of petrol subsidies.
Presenting the economic outlook, Oyedele expressed optimism about the administration’s reform programme. He identified reducing headline inflation and interest rates to single-digit levels by 2027 as key policy objectives.
Shettima urged state governors and relevant government institutions to ensure that economic reforms translate into practical improvements in people’s lives. He identified affordable transportation, accessible healthcare, employment opportunities and greater financial security as important measures of economic progress.
“The first dividend of prosperity should be the confidence to plan a life. Our task is to make such confidence less dependent on fortune,” the vice-president said.
He also highlighted the importance of affordable public transport, particularly through the National Compressed Natural Gas Bus Initiative. Shettima said the programme’s success should be assessed by the relief it provides commuters rather than simply by the number of vehicles deployed.
“The cost of reaching a livelihood should never consume the livelihood itself,” he said.
The 90-day plan places emphasis on implementation and measurable outcomes. Its impact will depend on how effectively federal and state authorities coordinate their efforts, remove barriers to investment and ensure that proposed interventions reach intended beneficiaries.
The council’s endorsement marks a policy commitment, while the extent of relief delivered to households will become clearer as the measures are implemented.
Deborah Adeyefa
