Connect with us

Politics

Just In: National Economic Council Establishes-Committees On Economic Affairs And Crude Oil-Management

Published

3 years ago

on

The National Economic Council, chaired by Vice President Kashim Shettima, on Thursday, set up committees on Economic Affairs and Crude Oil Theft and management….CONTINUE READING....KINDLY READ THE FULL STORY HERE▶

 

 

 

Both committees will be headed by Kwara State Governor, AbdulRahman AbdulRazak and his Imo State counterpart, Hope Uzodimma, respectively.

This followed “deliberations on critical economic matters and assessments of potential short-term, medium and long-term strategies for addressing pressing economic issues at the 138th meeting of NEC which was held virtually,” a statement signed by the Senior Special Assistant to the Vice President on Media and Communications, Stanley Nkwocha, revealed Thursday.

The statement is titled ‘Shettima to NEC: burden of Nigerians is on our shoulders.’

The Economic Matters committee, to be chaired by the Kwara State Governor, is tasked with preparing a clear roadmap for dealing with petroleum subsidy, including a framework for defending wage negotiations, exchange rate management and fiscal consolidation sustainability, liquidity management and inflation, medium-term investment and growth, fiscal transparency and accountability, as well as state of emergency on food production for 2024.

Members of the committee include the Gombe State Governor, representing North East; Governor of Lagos (South West); the Governor of Akwa Ibom (South-South); the Governor of Anambra (South East); the Governor of Niger (North Central), and Governor of Kaduna (North West).

Special Adviser to the President on NEC and Climate Change, Rukaiya El-Rufai, would serve as its Secretary.

The Crude Oil Theft and Management Committee, an existing NEC committee, was reconstituted with Governor Hope Uzodimma of Imo State as its chairperson.

Other members are the Governor of Ogun State representing South West; the Governor of Plateau State (North Central); the Governor of Rivers (South-South) Governor of Borno (North East); Governor of Jigawa State (North West); the Governor of Abia State (South East); Minister of Budget and Economic Planning; Minister of Finance and Coordinating Minister of the Economy; CBN Governor; GCEO of NNPCL, NDDC Chairman, and Service Chiefs.

The secretariat will be domiciled at the Ministry of Budget and Economic Planning.

The Special Adviser to the President on Economic Matters, Dr Tope Fasua, will serve on the committee.

Meanwhile, the VP charged members of the council to shelve the idea of vacation in the yuletide and proceed with governance matters to ease the burden of Nigerians.

He charged the council members to be alive to the demands of Nigerians, noting that “as the year draws to a close, none of us in this chamber should anticipate a vacation. I tend to think so because upon our shoulders rests the weight of responsibilities from which we cannot escape. We are returning to be judged by the promises we made to be here.”

He said his principal, President Bola Tinubu, believes that the challenges inherited by his administration are surmountable and has offered visionary leadership and presented a coherent development plan to assist in the country’s pursuit of order, abundance, and stability.

“Each of us owes our constituents the scorecard of their stewardship in these few months of translating ideas into tangible actions.

“That’s why we can’t afford to fail, and the new year must be, for us, a timeout to reflect on how we have fared so far and what we must do differently to keep the hope of the nation alive,” the Vice President stated.

Keen about getting results of the government’s ongoing reforms in good time, the VP stressed the need for the citizens to feel the positive impact of fuel subsidy removal and forex unification, noting that high inflation and cost of living are global challenges that have affected the economies of all countries.

Shettima said they should be considered as enough “inspiration for us to come together and tackle ours through realistic interventions.”

The Council also received an update on account balances as of October 31, 2023. As of October 31, 2023, the Excess Crude Account stood at $473,754.57, while the Stabilization Account was N32.06bn during the same period.

Development of Natural Resources Account as of October 31, 2023 stood at N156.77bn.

Related Topics:
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

latest

Security Breach Scandal! Peter Obi Accused Of Orchestrating Identity Fraud At International Airport!.

Published

14 minutes ago

on

July 17, 2026

By

A petition dated July 12, 2026, has been submitted to Aviation Minister Festus Keyamo, the Nigerian Civil Aviation Authority (NCAA), and the Economic and Financial Crimes Commission (EFCC) regarding serious security allegations. An anonymous individual, identifying as an aviation industry worker, is calling for a formal investigation into claims that Peter Obi, the presidential candidate for the Nigeria Democratic Congress (NDC), facilitated travel for a media aide using multiple identities.....KINDLY READ THE FULL STORY HERE▶

  • Circumventing Restrictions: The petitioner claims that Obi’s media aide was previously barred from flying with Air Peace due to alleged misconduct but continued to travel on the airline using different names.

  • Obi’s Alleged Involvement: The petition alleges that Obi repeatedly made arrangements to help the aide evade these airline restrictions and often accompanied her on these flights.

  • Interference with Security: It is further alleged that when traveling with this aide, Obi prevented airport staff from performing necessary identity verification procedures.

  • Evidence Cited: The petitioner claims to have attached evidence of flight tickets and Passenger Name Records (PNR) to the document to support these claims.

  • Safety Concerns: The document argues that these actions compromise aviation security and undermine the ability of airlines to enforce safety and identification protocols.

As of the report’s filing, these allegations remain unverified, and Peter Obi has not issued a public response.

Continue Reading

latest

From Rivals To Rescue? Keyamo Stuns Public With Offer To Settle Peter Obi’s Airport Debt!.

Published

22 minutes ago

on

July 17, 2026

By

Aviation Minister Festus Keyamo has agreed to a proposal by Mr. Nnaemeka Ikerionwu to pay the ₦25,000 airport parking fine issued to Peter Obi, the presidential candidate for the Nigerian Democratic Congress (NDC).....KINDLY READ THE FULL STORY HERE▶

  • Origin of the Fine: The fine was imposed after Peter Obi allegedly violated parking regulations at the Nnamdi Azikiwe International Airport in Abuja.

  • Context of the Dispute: Keyamo previously issued a seven-day ultimatum for Obi to pay the fine and publicly apologize to airport staff following claims Obi made in a podcast interview that he was being targeted and harassed at the airport.

  • Evidence Provided: To address Obi’s allegations of unfair treatment, Keyamo released CCTV footage showing the moment the parking violation occurred.

  • Resolution and Reaction:

    • Following an offer to pay the fine by Ikerionwu, Keyamo instructed him to contact the Director of Commercial and Business Development at the Federal Airports Authority of Nigeria (FAAN) to arrange payment.

    • Despite accepting the payment, Keyamo still expects an apology from Obi to the airport officials.

    • Keyamo stated that the ministry successfully refuted Obi’s claims and warned the candidate to avoid making “outlandish” statements in the future intended to secure “sympathy votes”.

Continue Reading

latest

Nationwide Renaming Spree! Major Landmarks Across Nigeria Now Bear President Tinubu’s Name!.

Published

28 minutes ago

on

July 17, 2026

By

The Federal Government has officially renamed the 750-kilometre Lagos-Calabar Coastal Highway as the President Bola Ahmed Tinubu Coastal Highway. Minister of Works David Umahi explained that this decision honors the President, noting that the project’s original vision began nearly 30 years ago during Tinubu’s time as the Governor of Lagos State.....KINDLY READ THE FULL STORY HERE▶

This recent renaming, announced on July 16, 2026, joins a significant and growing list of public assets and institutions that have been named or established in President Tinubu’s honor since he took office in May 2023.

Public Assets Named After President Tinubu

  • Bola Ahmed Tinubu International Airport, Minna: In March 2024, the airport—formerly the Abubakar Imam International Airport—was renamed by Governor Umar Bago to acknowledge the President’s support for Niger State.

  • Bola Ahmed Tinubu Way, Abuja: Following its reconstruction in May 2024, the Abuja Southern Parkway, which connects the Christian Centre to Ring Road One, was renamed by FCT Minister Nyesom Wike.

  • Bola Tinubu Building (National Assembly Library): Inaugurated by the President in May 2024, this newly completed library was named in his honor by the National Assembly.

  • Bola Ahmed Tinubu Technology Innovation Complex (BATTIC): Formerly the Nigeria Immigration Service command and control centre, this facility was renamed in December 2024 to serve as a hub for border security and technological innovation.

  • Bola Ahmed Tinubu Polytechnic, Gwarinpa: Established in January 2025 by the Federal Government, this institution focuses on entrepreneurial, vocational, and technical education.

  • Bola Ahmed Tinubu Barracks, Asokoro: Named by the Nigerian Army in January 2025, this new military facility features operational infrastructure, residential quarters, and sporting amenities.

  • Tinubu International Conference Centre (ICC), Abuja: Following comprehensive renovations, the Abuja International Conference Centre was renamed in June 2025 by the FCT Administration.

With the inclusion of the Lagos-Calabar Coastal Highway, at least eight major public facilities or infrastructure projects have been renamed or established to bear the President’s name during his administration.

Continue Reading

Trending