President Bola Tinubu emphasized the importance of transforming Nigeria’s economy from its potential state to a pragmatic one. He stated that this process has already begun with removing fuel subsidies and unifying exchange rates. President Tinubu urged the 36 state governors to join in these efforts. He inaugurated the National Economic Council (NEC), an advisory body consisting of the governors, the Governor of the Central Bank of Nigeria (CBN), and other stakeholders, to address urgent priority areas and develop collective frameworks for a robust economy that benefits the poor and vulnerable.
The President assured the governors that his government would address issues that devalue the lives of Nigerians, focusing on security, the economy, job creation, agriculture, infrastructure, monetary policy, and fuel subsidy. He highlighted the importance of the NEC as the economic platform for dialogue among the federal government, state governors, the CBN, and other key stakeholders.
President Tinubu expressed the administration’s commitment to improving the lives of Nigerians based on principles such as impartial governance, defence against terrorism and criminality, economic growth and development, women and youth empowerment, promotion of a credit culture, and anti-corruption efforts.
He emphasized the inclusion of women and youths in decision-making processes and noted that policies and programs would be driven by compassion for the less privileged. President Tinubu urged the NEC to engage in robust discussions that would enhance the livelihoods of Nigerians and emphasized the need for interventions to address poverty.
The President rallied the governors for collaboration in national development, stating that collaboration is not a crime. He emphasized the involvement of all three tiers of government, including the Local Government Councils, to ensure inclusiveness and ownership of policies and programs.
President Tinubu highlighted the mandate of the NEC to advise the President on economic affairs and coordinate economic plans and programs. He mentioned that significant steps have already been taken, such as ending fuel subsidy and unifying the foreign exchange rate.
The President assured that the government would continue to transform the nation’s fortunes through good governance and sustainable initiatives. He expressed confidence in meeting the challenges of the day and paving the way for a better future for Nigeria.