NEC unveils 90-day plan to tackle cost of living, track subsidy savings

VIA THE NATION NIGERIA ON X:

The National Economic Council has approved a 90-day emergency plan to reduce the cost of living and speed up high-impact projects, with a new national dashboard set to track how petrol subsidy savings are spent.

The decision came at NEC’s 161st meeting, presided over by Vice President Kashim Shettima, following a presentation by Finance Minister Taiwo Oyedele.

The Council also approved joint Federal-state financing for CNG and electric vehicle adoption, with savings required to translate into lower transport fares.

Five priority areas were identified: food affordability, tax harmonisation, project completion, removing investment bottlenecks, and household support, as the government targets single-digit inflation by 2027.