The federal government has said that the nation’s economy has received a substantial boost.
The excess crude account has surged to $473.75 million, while the stabilisation account has risen to over N28.7 billion
The nation’s natural resources fund has also seen a significant increase, standing at over N53.89 billion.
News About Nigeria reports that the Vice President, Kashim Shettima, attributed the economic growth to the financial prudence and transparency framework adopted by President Bola Tinubu.
The National Economic Council (NEC) met on Thursday to discuss the nation’s economic progress, ratifying the nomination of six state governors as members of the Board of Niger Delta Power Holding Company (NDPHC).
The Ad Hoc Committee on Flood, Erosion, Drought, and Desertification presented its report, calling for the revitalisation of State Emergency Management Agencies (SEMAs) and improved coordination between different levels of government.
The Ad-Hoc Committee on Economic Affairs presented its report, highlighting the need for robust economic solutions to address the nation’s economic challenges.
The Ad-Hoc Committee on Crude Oil Theft Prevention and Control presented its report, recommending improved security at oil and gas terminals and enhanced regulatory oversight in the sector.
Shettima announced the presidential approval for the operationalization of the Presidential Food System Coordinating Unit, charged with developing robust economic solutions for the country’s food system.
He said NEC received an update on the ongoing discussions regarding the establishment of state police, urging states to expedite their submissions on the matter.
The NEC meeting saw the presentation of key updates and recommendations from various ad hoc committees, with a focus on finding common ground and driving economic progress.
