Ad hoc committees provided updates on flood control, oil theft, and state policing during the 142nd meeting of the National Economic Council (NEC) presided over by Vice President Kashim Shettima.
The NEC confirmed the nomination of six state governors as members of the Board of Niger Delta Power Holding Company. The nominated governors, representing the six geopolitical zones, are from Borno, Katsina, Imo, Ekiti, Kwara, and Akwa Ibom States.
The council highlighted the significance of NDPHC in the country’s economic development by approving these nominations. Governor of Kogi State, Ahmed Usman Ododo, presented the Ad Hoc Committee on Flood, Erosion, Drought and Desertification’s recommendations, emphasizing the need to revitalize State Emergency Management Agencies (SEMAs) and enhance coordination between different levels of government.
The council resolved that the Vice President and several ministers would meet to strategize on funding sources to mitigate climate challenges facing the states, with the outcome to be presented to the President.
The council also agreed to adopt the committee’s report recommendations on funding for states and relevant government departments to address the identified issues. The NEC also resolved that the Ad-Hoc Committee on Economic Affairs, led by the Governor of Kwara State, aligns its mandate with the National Economic Management Team to devise solutions to the nation’s economic challenges. Additionally, the Ad-Hoc Committee on Crude Oil Theft Prevention and Control, chaired by Imo State Governor Hope Uzodinma, presented interim measures to enhance security at oil and gas terminals and improve regulatory oversight in the sector. Oyo State Governor Seyi Makinde was co-opted into the committee, and the council mandated the submission of the committee’s final report within one month.
Furthermore, the council received updates on ongoing discussions regarding the establishment of state police and urged states to expedite their submissions on the matter. To strengthen food security, the council announced the operationalization of the Presidential Food System Coordinating Unit.
Vice President Shettima also provided updates on the nation’s financial standing. The Excess Crude Account was reported at $473,754.57, the Stabilization Account at ₦28,738,722,369.83, and the Natural Resources fund at ₦53,891,102,650.71. In his opening remarks, Vice President Shettima linked Nigeria’s improved economic outlook to the financial prudence and transparency framework adopted by President Bola Ahmed Tinubu.
He highlighted the increased credit outlook by Fitch Ratings due to the President’s transparency and effective financial management for the nation’s economic progress.
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