Nigeria’s Economic Council approves 90-day plan to tackle cost of living
By the AFREEQUE newsroom, based on ThisDay
Nigeria’s National Economic Council has approved a 90-day action plan to reduce the cost of living, improve access to food and accelerate priority projects. Presented by Finance Minister Taiwo Oyedele, the programme sets out five areas of intervention and a national dashboard to monitor projects, according to ThisDay.
Nigeria’s National Economic Council approved a 90-day action plan on Thursday to reduce the cost of living, improve access to food and accelerate investment. The plan was presented by Taiwo Oyedele, minister of finance and coordinator of the economy, during the council’s 161st meeting, chaired by videoconference by Vice-President Kashim Shettima, ThisDay reports.
The plan sets out five priorities: making food products more affordable, harmonising taxation, completing high-impact projects, unlocking investment and regulating household support. The council also approved the creation of a national dashboard to monitor federal and regional projects, with a section dedicated to transparency and the use of revenue from the removal of fuel subsidies.
Taiwo Oyedele set targets of reducing overall inflation and interest rates to single-digit levels by 2027. Kashim Shettima called on governors and the relevant administrations to translate the economic reforms into more affordable transport, improved health services, jobs and greater financial security for Nigerians, according to ThisDay.
