Abuja, Nigeria – In a significant move to bolster Nigeria’s economic growth and development, President Tinubu announced the establishment of a new National Economic Council (NEC) on 15th June 2023. This decisive step highlights the administration’s commitment to implementing well-reasoned policies and measures that will foster rapid and inclusive economic progress across the nation.
The NEC, led by Vice President Senator Kashim Shettima, comprises an esteemed membership that includes all State Governors and other key stakeholders. This diverse and experienced group will collaborate closely to provide strategic guidance and support to the government in driving sustainable economic growth and addressing the pressing challenges facing the country.
During the inauguration ceremony held at the Presidential Villa in Abuja, President Tinubu emphasized the NEC’s crucial role in shaping policies that promote economic inclusivity and prosperity for all Nigerians. The council’s establishment underscores the administration’s determination to foster an environment conducive to business growth, attract foreign investment, and create job opportunities.
President Tinubu expressed his confidence in the capabilities and dedication of the NEC members, recognizing their vast experience in public administration, economic planning, and governance. He emphasized that their collective wisdom and expertise would be instrumental in formulating effective policies that align with the government’s vision for a prosperous and resilient Nigeria.
The newly formed NEC will work collaboratively with various government ministries, agencies, and departments to identify and prioritize key economic sectors for growth. Through comprehensive analyses and consultations, the council will develop strategies to leverage Nigeria’s abundant resources and capitalize on emerging opportunities in both domestic and international markets.
Among the critical areas of focus for the NEC will be job creation, industrialization, agricultural development, infrastructure investment, and technology advancement. By adopting a holistic approach, the council aims to foster a diversified and robust economy that reduces dependency on oil revenues and promotes sustainable growth across multiple sectors.
Additionally, the NEC will play a pivotal role in fostering stronger partnerships with international organizations, financial institutions, and foreign investors. By actively engaging in global economic forums and promoting Nigeria’s investment potential, the council aims to attract substantial foreign direct investment, transfer of technology, and knowledge sharing for accelerated economic development.
As President Tinubu concluded the inauguration ceremony, he emphasized the government’s commitment to transparency, accountability, and good governance in the implementation of economic policies. The NEC will actively monitor and evaluate progress, regularly assess the impact of implemented measures, and make necessary adjustments to ensure the desired outcomes are achieved.
The establishment of the National Economic Council marks a significant milestone in Nigeria’s journey toward sustainable economic growth and prosperity. With an experienced and dedicated team at the helm, the council is poised to steer the nation’s economic policies in the right direction, unlocking its immense potential and driving inclusive development for the benefit of all Nigerians.
As the NEC embarks on this crucial mission, Nigerians eagerly anticipate the positive impact it will have on their lives and the nation as a whole. With President Tinubu’s visionary leadership and the collective efforts of the council members, a brighter and more prosperous future awaits Nigeria on its path to economic greatness.