In a decisive move to address the rising cost of living in Nigeria, the National Economic Council (NEC) has approved a 90-day economic action plan. This initiative, proposed by the Federal Ministry of Finance, was endorsed during the council's 161st meeting, which took place virtually under the leadership of Vice President Kashim Shettima.

The newly approved plan focuses on five key areas: enhancing food affordability, harmonizing taxes, completing high-impact projects, resolving investment bottlenecks, and providing regulated support for households. This multi-faceted approach is designed to not only alleviate immediate economic pressures but also attract investment to stimulate long-term growth in the country.

Vice President Shettima emphasized the importance of translating economic reforms into tangible benefits for Nigerians. He stated that the success of these policies should be evaluated based on their impact on daily life, including access to affordable transportation, healthcare, and employment opportunities. "The first dividend of prosperity should be the confidence to plan a life. Our task is to make such confidence less dependent on fortune," he remarked during the meeting.

To enhance transparency and accountability, the council has also approved the creation of a national dashboard. This platform will track various projects across the nation and monitor how funds from the removal of fuel subsidies are utilized. Shettima called for collaboration between federal and state governments, urging that their distinct responsibilities should not impede the provision of essential services to citizens.

On the subject of transportation, the Vice President highlighted the National Compressed Natural Gas Bus Initiative, stressing that its success should be measured by how much it reduces commuting expenses rather than merely the number of vehicles in operation. He stated, "The cost of reaching a livelihood should never consume the livelihood itself. The passenger’s experience must guide our ambition."

Furthermore, the council resolved to establish a joint financing framework between the Federal Government and state governments to expedite the deployment of compressed natural gas and electric vehicles. This initiative aims to ensure that savings from these vehicles are passed on to commuters through lower fares.

In addition to economic discussions, the Minister of Health and Social Welfare, Prof Muhammad Ali Pate, provided an update on the reported Ebola outbreak in the Federal Capital Territory. He assured council members of Nigeria's capacity to manage the situation effectively, with a focus on coordination, detection, and public communication. Pate also urged all states to enhance their preparedness and response plans in light of the outbreak.

The NEC meeting further recognized the potential of livestock development in job creation and economic growth, resolving to strengthen collaboration between federal and state governments to advance this vital sector. As Nigeria navigates these economic challenges, the new action plan aims to foster a more sustainable and affordable living environment for its citizens.