The members of the National Economic Council are meeting at the presidential villa, Abuja for their monthly programme.
The meeting is chaired by the Vice President, Kashim Shettima and attended by state governors, ministers in charge of the finance budget, governor of the Central Bank of Nigeria and other co-opted government officials.
The National Economic Council (NEC) was established by the provisions of the Constitution of the Federal Republic of Nigeria, 1999, as amended; Section 153(1) and Paragraphs 18 & 19 of Part I of the Third Schedule.
The council has the mandate to “advise the President concerning the economic affairs of the Federation, and in particular on measures necessary for the coordination of the economic planning efforts or economic programmes of the various Governments of the Federation.”
Top on the agenda is the issue of ecological and security challenges in the country as well as taking of resolutions on economic matters.
The Council achieves its objectives working through ad hoc committees set up to perform specific tasks, after which they are dissolved.
While inaugurating the body in June, President Bola Tinubu charged the council to support his administration in transforming the economic fortunes of the country.
He stated that the task of growing the nation’s economy is quite enormous adding that there must be “no excuse for failure”.
He restated his administration’s commitment to delivering on its promises to Nigerians.
Governors in attendance include that of Kaduna, Bauchi, Ogun, Bayelsa, Kwara, Kogi, Jigawa and some deputy governors.