Nigeria’s National Economic Council has approved a 90-day economic action plan targeting food prices, transport costs and investment barriers, while a proposed national dashboard will track projects and the use of fuel subsidy savings.
The National Economic Council (NEC) has endorsed a 90-day action plan designed to ease the cost of living, placing pressure on federal and state governments to show how economic reforms will improve household finances.
The plan was presented by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, at the Council’s 161st meeting on Thursday. Vice-President Kashim Shettima chaired the virtual meeting.
The initiative identifies five priorities: affordable food, tax harmonisation, completion of high-impact projects, removal of investment bottlenecks and regulated household support. However, the announcement did not specify the plan’s total cost, funding sources, individual implementation deadlines or the number of households expected to benefit.
That information will be essential to assessing whether the initiative can produce measurable relief within 90 days.
Shettima told governors that the success of President Bola Tinubu’s economic reforms must be judged by their effects on daily life, including employment, healthcare and affordable transport.
“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 said.
A major accountability measure is the proposed national dashboard for tracking projects across the federation. NEC said it would emphasise transparency and accurate reporting on the use of proceeds from fuel subsidy removal.
The dashboard, thus, could become one of the plan’s most consequential tools, provided its information is public, regularly updated and independently verifiable. Nigerians need to see not only how much has been allocated or spent, but which projects have been completed and what benefits communities have received.
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Oyedele identified reducing headline inflation and interest rates to single digits by 2027 as policy objectives. Even at that, lower inflation does not automatically mean lower prices.
It means prices are rising more slowly, unless inflation turns negative. The practical test for households will be whether food, transport and other essentials become more affordable relative to their incomes.
Transport is another major concern. NEC approved plans for a joint federal-state financing framework to accelerate the deployment of compressed natural gas (CNG) and electric vehicles. Authorities will also engage transport unions and operators to ensure that operational savings translate into lower passenger fares.
On public health, Health Minister Muhammad Ali Pate briefed the Council on Nigeria’s Ebola response. He said 21 states had updated their preparedness plans and called on the remaining 15 to establish appropriate arrangements.
NEC also directed states to strengthen polio vaccination, particularly in communities affected by insecurity and areas where children were missed during immunisation campaigns.
The Council further acknowledged livestock development as a potential source of jobs and economic growth, with all states indicating interest in supporting federal initiatives.
The 90-day plan now faces a clear test: whether governments can publish timelines, identify funding, disclose progress and demonstrate tangible improvements. Without those details, Nigerians will struggle to measure success.
With transparent reporting and coordinated implementation, the initiative could provide a practical measure of whether economic reform is translating into relief for households.
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