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[BUSINESS] · Nigeria · 19 sources

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Nigeria's NEC approves 90-day economic action plan

The National Economic Council (NEC) has endorsed a 90-day economic action plan designed to reduce the cost of living, improve food affordability, and attract investment in Nigeria. Chaired virtually by Vice President Kashim Shettima, the 161st meeting focused on five priority areas: food affordability, tax harmonization, completion of high-impact projects, removal of investment barriers, and targeted household support.

To enhance transparency, the Council approved a national dashboard to monitor projects and track the utilization of funds generated from the removal of the fuel subsidy. Regarding transportation, the Council resolved to establish a joint financing framework for the deployment of Compressed Natural Gas (CNG) and electric vehicles, aiming to translate savings into lower commuter fares.

The plan arrives as annual inflation slowed to 14.63% in September 2026, though food inflation remains high at 19.59%. Additionally, the Minister of Health, Professor Muhammad Ali Pate, briefed the Council on the response to a reported Ebola case in the Federal Capital Territory, expressing confidence in containment efforts.

Entities

Bola Tinubu · Doris Uzoka-Anite · Kashim Shettima · Ministry of Budget and Economic Planning · National Economic Council · Nigeria · Taiwo Oyedele

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Sources

You are delusional, Atiku replies Tinubu [nationalaccordnewspaper.com]