The National Economic Council (NEC), on Thursday ratified the nomination of six state governors as members of the Board of Niger Delta Power Holding Company (NDPHC).
The governors, representing the six geopolitical zones, are from Borno, Katsina, Imo, Ekiti, Kwara, and Akwa Ibom States.
NEC noted the importance of NDPHC to the country’s economic development in approving these nominations.
The 142nd NEC meeting presided over by its Chairman, Vice President-Kashim Shettima, saw the presentation of key updates and recommendations from various ad hoc committees.
Notable among them was the Ad Hoc Committee on Flood, Erosion, Drought and Desertification (Mitigation, Adaptation, Preparedness and Response), presented by the Gov. Ahmed Ododo of Kogi.
The flood committee called for the revitalisation of State Emergency Management Agencies (SEMAs) and improved coordination between different levels of government.
The council also resolved that the Vice-President, Ministers of Finance, Agriculture and Food Security, Water Resources and Sanitation, and Budget and Economic Planning meet on Monday to strategise on funding sources to mitigate the climate challenges facing the states.
The outcome of the meeting will be presented to the President on Tuesday.
Similarly, the council also resolved to adopt the recommendations of the committee’s report on implementation and provision of funds to states and relevant MDAs to address the problems.
On Update from NEC Ad-Hoc Committee on Economic Affairs was presented by Gov. AbdulRahman AbdulRazaq of Kwara.
The council resolved that the committee aligns its mandate with the National Economic Management Team to come up with robust solutions to the nation’s economic challenges.
The committee is working closely with states to address challenges related to foreign exchange loan facilities and fuel pricing.
Also, the Ad-Hoc Committee on Crude Oil Theft Prevention and Control, chaired by Gov. Hope Uzodinma of Imo presented key recommendations as part of interim measures to improve security at oil and gas terminals and enhance regulatory oversight in the sector.
Gov. Seyi Makinde of Oyo was co-opted into the committee as a subject matter expert and the committee was mandated to submit its final report to council within one month.
In a related development, the council also received an update on the on-going discussions regarding the establishment of state police, urging states to expedite their submissions on the matter.
In a move to bolster food security, Vice-President Shettima announced the presidential approval for operationalizing the Presidential Food System Coordinating Unit
The unit was charged the responsibility of developing robust economic solutions for the country’s food system.
Also, the council also received updates on the nation’s financial standing by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, with the Excess Crude Account reported at 473,754.57 dollars, the stabilisation Account at N28,738,722,369.83, and the Natural Resources fund at N53,891,102,650.71.
Earlier, Shettima linked the boost in Nigeria’s economic outlook to the financial prudence and transparency framework adopted by President Bola Tinubu.
He said ” at the helm of the nation’s affairs is a leader who always reminds us of the necessity of making the right calls to deliver on our promises to the nation.”
Shettima explained why President Tinubu earned and deserves the title, Jagaban, conferred on him by the Emir of Borgu.
” The President is Jagaban (the front-row commander), he has a rare political virtue that has made him the unifying nub of the zeal to serve the country.
” We highlighted Nigeria’s improved credit outlook by Fitch Ratings, owing to Mr. President’s transparency and effective financial management to further the nation’s economic progress.
“Today, as we prepare for the agenda of the day, I am excited by the presence of His Excellency, President Tinubu, a reservoir of ideas, a visionary extraordinaire, as he guides us towards finding a common ground.
“Nobody can do so better than he does, and it is this rare political virtue that has made him the unifying nucleus of our aspirations to serve the nation. He is the Jagaban, the front-row commander, for a reason.”
