Vice President Kashim Shettima is currently chairing a crucial National Economic Council (NEC) session at the Council Chambers of the Presidential Villa in Abuja.
The fourth in the Tinubu administration, Thursday’s gathering comes nearly two months after the Council last convened on September 28 to consider priority areas for the next three and half years, including economic stability, welfare and security.
NEC, comprising the 36 state governors, finance ministers, the Central Bank of Nigeria (CBN) Governor, and Mele Kyari, Group Chief Executive Officer of Nigeria National Petroleum Company Limited (NNPCL), convened to deliberate on pivotal economic matters.
Established by the Nigerian Constitution, NEC operates under Section 153(1) and Paragraphs 18 & 19 of Part I of the Third Schedule.
The council’s core mandate revolves around advising the President on the nation’s economic affairs, specifically focusing on coordinating financial planning efforts among the various tiers of government.
In his opening address at the last NEC meeting titled, ‘Planning for Stability: Our Agenda for Economic Growth in 2024’, VP Shetimma reminded the governors and other members of NEC that the weight of the tough decisions to rescue Nigeria’s economy depends on their cooperation and goodwill.
Present at this month’s sitting, which is likely to be the last for 2023, are all governors except those of Akwa Ibom, Kano, Lagos, Enugu, Osun, Borno, Nasarawa and Adamawa States who are represented by their deputies.
However, it was observed that neither Governor Godwin Obaseki nor his deputy, Philip Shaibu, were present as the seat designated for the state remained vacant after the meeting commenced.