NEC Endorses 90-Day Plan to Ease Living Costs
Abuja, Nigeria—October 22, 2026—The National Economic Council (NEC) on Thursday endorsed a 90-day economic action plan designed to reduce the cost of living and improve food affordability for Nigerians.
The plan, presented by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, was approved at the Council’s 161st meeting held virtually and chaired by Vice President Kashim Shettima.
Five Priority Areas
According to a statement by Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications in the Office of the Vice President, the plan targets five key areas:
- Food affordability
- Tax harmonization
- Completion of high-impact projects
- Resolution of investment bottlenecks
- Regulated household support
The initiative aims to consolidate the gains of President Bola Tinubu’s economic reforms while translating macroeconomic progress into measurable benefits for households and businesses.
NEC also approved the creation of a national dashboard to track ongoing projects across the federation, with emphasis on transparency, accountability, and accurate reporting on the utilization of proceeds from fuel subsidy removal.
Shettima’s Charge to Governors
Vice President Shettima urged state governors and relevant institutions to ensure that the benefits of the reforms reach ordinary Nigerians through affordable transportation, improved healthcare, employment opportunities, and greater financial security.
“The first dividend of prosperity should be the confidence to plan a life. Our task is to make such confidence less dependent on fortune,” he said.
He stressed that Nigeria’s federal structure must strengthen cooperation rather than hinder service delivery, adding that governors should bring their knowledge of local conditions into national policy decisions.
Oyedele expressed optimism about further economic recovery and identified reducing headline inflation and interest rates to single digits by 2027 as key policy objectives.
The Council also received updates on the Ebola response, polio eradication efforts, livestock development and the National Compressed Natural Gas (CNG) Bus Initiative, directing closer federal-state collaboration to deliver results.
This report is based on the official statement from the Office of the Vice President and coverage by Channels Television on October 22, 2026.
news Court Jails Former Banker 39 Years Over N2.7bn Fraud Case
news Sowore Accuses ARISE TV of False Report on Court Hearing with DSS
news Sowore Accuses ARISE TV of False Report on Court Hearing with DSS
sport Manchester United Back Carrick with More Time Despite Mounting Pressure, Poor Form
technology MTN Insists “We’re Not Stealing Your Data” as Furious Customers Cry Foul Over Sudden Vanish
How do you feel about this news?
Community Additions
Have a news tip, correction, or extra context about this story? Post it below instantly. All submissions appear live on this screen immediately.