President Bola Ahmed Tinubu has on Thursday inaugurated the National Economic Council (NEC) which is headed by the Vice President, Kashim Shettima.
The NEC inauguration which took place at the presidential villa in Abuja comes a week after Tinubu directed council members to concretise intervention plans to mitigate the effects of the petroleum subsidy.
Tinubu had last week directed the NEC led by the vice president to device an approach and begin the process of working on interventions to mitigate the impact of fuel subsidy removal on Nigerians.
The President, who inaugurated the NEC at 11:25 am, said the task of growing the nation’s economy is quite enormous.
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“Therefore, there will be no excuse for failure or complain as all the elected officials, asked, campaigned and danced for the job,” the president said.
The president also urged the council to work together and support his administration’s mandate to transform the economic fortunes of the country saying “Collaboration is. Not a crime. Please let u do so.”
Chaired by Vice President, the Council, which meets monthly, has the mandate to “advise the President concerning the economic affairs of the Federation, and in particular on measures necessary for the coordination of the economic planning efforts or economic programmes of the various Governments of the Federation.”
Its members comprise the 36 State Governors, the Governor of the Central Bank of Nigeria, and other co-opted Government officials.
