Economic council meets on reforms, floods, palliatives

The National Economic Council is meeting on Thursday to discuss and advise the President on the various economic policies and programmes of the administration.

It was reported that the council is expected to dwell on issues of the 2023 floods and palliatives to cushion the effect of the subsidy removal and harmonisation of the exchange rate.

The meeting to be chaired by Vice President Kassim Shettima,  is a body made of state governors, Governor of the Central Bank of Nigeria, economic advisers as well as members of the Cabinet Office.

The NEC, which meets monthly, had the mandate to advise the President concerning the economic affairs, and in particular on measures necessary for the coordination of the economic planning efforts or programmes of the states.

It was reported that the state governors have started arriving the council chambers of the Presidential Villa, venue of the meeting.

At their inauguration in July, President Bola Tinubu had charged them to live up to the expectations of Nigerians for a quick fix to the myriad economic challenges affecting their livelihood.

Tinubu directed the council to device an approach and begin the process of working on interventions to mitigate the impact of fuel subsidy removal on Nigerians.