By Mohammed Bello Doka
In a significant move to bolster Nigeria's economic landscape, the National Economic Council (NEC) has approved the appointment of six state governors as members of the Board of Niger Delta Power Holding Company (NDPHC). The governors, hailing from the six geopolitical zones, represent Borno, Katsina, Imo, Ekiti, Kwara, and Akwa Ibom States. This decision underscores the strategic importance of NDPHC in driving the nation's economic growth.
During the 142nd NEC meeting, chaired by Vice President Kashim Shettima, several crucial updates and recommendations were presented by various ad hoc committees. Among the highlights was the report from the Ad Hoc Committee on Flood, Erosion, Drought, and Desertification, delivered by Kogi State Governor Ahmed Usman Ododo. The report emphasized the need to revitalize State Emergency Management Agencies (SEMAs) and enhance coordination across government levels.
Additionally, the Council resolved that a high-level meeting involving the Vice President, the Minister of Finance, the Coordinating Minister of the Economy, the Minister of Agriculture and Food Security, the Minister of Water Resources and Sanitation, and the Minister of Budget and Economic Planning would convene to strategize on funding solutions to tackle climate challenges. The outcomes of this meeting are set to be presented to the President imminently.
The NEC also discussed economic affairs, with Kwara State Governor AbdulRahman AbdulRazaq presenting recommendations aimed at aligning the committee's mandate with the National Economic Management Team (NEMT) to address national economic challenges. Key issues such as foreign exchange loan facilities and fuel pricing were central to these discussions.
In efforts to curb crude oil theft, Imo State Governor Hope Uzodinma led the presentation from the Ad-Hoc Committee on Crude Oil Theft Prevention and Control. The committee put forward interim measures to enhance security at oil and gas terminals and improve regulatory oversight, with Oyo State Governor Seyi Makinde co-opted as a subject matter expert. The committee has been tasked with submitting a comprehensive report within a month.
The council also advanced discussions on establishing state police, urging expedited submissions from the states involved. In a related development, Vice President Shettima announced the operationalization of the Presidential Food System Coordinating Unit, aimed at fortifying the nation's food security through innovative economic strategies.
Financial updates provided by the Minister of Finance, Wale Edun, revealed the current balances of the Excess Crude Account, Stabilization Account, and Natural Resources Fund, highlighting the nation's financial prudence under President Bola Ahmed Tinubu's administration. Vice President Shettima attributed Nigeria's improved credit outlook to President Tinubu's transparency and effective financial management.
In his opening remarks, Vice President Shettima praised President Tinubu's leadership, describing him as the "Jagaban" (front-row commander), a title conferred by the Emir of Borgu, reflecting his pivotal role in uniting and guiding the nation toward economic prosperity.
With these strategic moves, the NEC demonstrates a firm commitment to addressing critical economic and environmental challenges, ensuring sustainable development and improved governance across Nigeria.
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