By Matthew Otabe
The National Economic Council (NEC) has endorsed a 90-day economic action plan aimed at reducing the cost of living, improving food affordability and ensuring that the benefits of the Federal Government’s economic reforms translate into tangible improvements in the lives of Nigerians.
The plan, proposed by the Federal Ministry of Finance, comes at a time when households and businesses are looking for practical relief from economic pressures, making its successful implementation a critical test of the government’s ability to convert policy decisions into measurable improvements in living standards.
Endorsing the initiative at its 161st meeting, held virtually on Thursday, October 22, 2026, the Council, chaired by Vice President Kashim Shettima, identified five priority areas for immediate action: food affordability, tax harmonisation, completion of high-impact projects, removal of investment bottlenecks and regulated household support.
The plan represents an attempt to strengthen the connection between the government’s broader economic reform agenda and the everyday realities of citizens struggling with the cost of food, transportation, healthcare and other essential services.
According to a statement by Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications in the Office of the Vice President, the Council also approved the establishment of a national dashboard to track ongoing projects across the country.
The proposed platform is expected to promote transparency and accountability, particularly in monitoring the utilisation of proceeds from fuel subsidy removal and providing accurate information on the implementation of government projects.
Beyond the announcement of another economic intervention, the central question is whether the 90-day plan will deliver sufficient improvements to restore public confidence and demonstrate that the sacrifices associated with the ongoing reforms are producing meaningful results.
From Economic Reforms to Household Relief
Presenting the economic outlook to the Council, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the government was working towards bringing headline inflation and interest rates down to single digits by 2027.
Achieving these targets would require sustained policy coordination, effective implementation and stronger cooperation between federal and state governments.
While macroeconomic indicators provide important measures of economic performance, their significance to ordinary Nigerians ultimately depends on how they influence the prices of goods and services, the cost of borrowing, business expansion and employment opportunities.
For households, the immediate concern is whether food prices will become more affordable, transportation costs will decline and incomes will stretch further to meet basic needs.
For businesses, particularly small and medium-sized enterprises, lower inflation and interest rates could improve planning, reduce financing pressures and create opportunities for expansion, provided the expected changes materialise.
Oyedele’s presentation underscored the importance of coordinated action across the federation to ensure that improvements in the broader economy are reflected in the financial circumstances of households and businesses.
The 90-day framework therefore places considerable emphasis on implementation, requiring relevant authorities to move beyond policy declarations and demonstrate progress within a clearly defined period.
However, the extent of the relief Nigerians experience will depend on the specific measures adopted, the speed of execution and the ability of public institutions to overcome administrative and financial obstacles.
Food Affordability at the Centre of the Plan
Food affordability occupies a central position in the proposed intervention because food expenditure represents a significant part of household budgets.
When food prices rise faster than incomes, families are often forced to reduce consumption, compromise on nutritional quality or divert money from other essential needs.
The inclusion of food affordability among the plan’s five priorities signals recognition that economic recovery must be assessed not only through national indicators but also through the purchasing power of citizens.
Nevertheless, achieving sustainable reductions in food costs requires more than short-term interventions.
Improved agricultural production, efficient distribution networks, better rural infrastructure, access to financing and reduced transportation costs are among the factors that can influence the final prices paid by consumers.
Security challenges affecting farming communities and the movement of agricultural produce can also undermine efforts to increase food supply and stabilise prices.
The success of the 90-day plan will therefore depend partly on how effectively federal and state governments coordinate measures that improve food availability, reduce distribution costs and address other constraints across the agricultural value chain.
For the initiative to produce lasting benefits, immediate relief measures must complement policies that strengthen domestic production and make food supply more resilient.
Transportation Costs and the Promise of Alternative Energy
Transportation emerged as another important component of the discussions, particularly through the National Compressed Natural Gas (CNG) Bus Initiative and the proposed expansion of CNG-powered and electric vehicles.
Vice President Shettima urged state governments to support affordable transportation, insisting that the success of the CNG programme should be assessed by its impact on commuters rather than the number of vehicles deployed.
The position reflects a broader challenge confronting public transportation initiatives: the difference between acquiring infrastructure and delivering affordable services.
Although the deployment of alternative-energy vehicles could reduce operating costs under appropriate conditions, those savings do not automatically translate into lower fares for passengers.
The actual benefits depend on several factors, including vehicle maintenance, fuel availability, conversion and operating costs, the accessibility of refuelling infrastructure and the willingness of transport operators to pass savings on to commuters.
To address this concern, NEC considered a presentation on the National Affordable CNG Transit Programme by Ismaeel Ahmed, Chairman of the Presidential Initiative on Compressed Natural Gas and Electric Vehicles.
The Council resolved to establish a joint financing framework involving the Federal and State Governments to accelerate the deployment of CNG-powered and electric vehicles.
It also directed relevant authorities to engage transport unions and operators to ensure that the savings associated with alternative-energy vehicles are reflected in lower fares.
A committee is expected to coordinate the proposed funding arrangement, engage stakeholders and develop measures to ensure that the programme delivers affordable, accessible and sustainable transportation.
If effectively implemented, the initiative could help reduce transportation costs for commuters while supporting the government’s efforts to diversify the country’s energy use.
However, the critical measure of success will remain the extent to which passengers experience lower fares and improved access to reliable transportation
Shettima: Reforms Must Improve Living Conditions
In his remarks, Shettima challenged governors and relevant institutions to focus on outcomes that directly affect citizens, including affordable transportation, improved healthcare, employment opportunities and greater financial security.
He maintained that the success of economic reforms should be measured by improvements in people’s living conditions, emphasising that cooperation among the different levels of government was essential to delivering essential services.
The Vice President’s position highlights an important dimension of economic governance: the need to connect policy objectives with the practical concerns of citizens.
Economic reforms may be designed to correct structural imbalances, improve fiscal sustainability and strengthen the investment climate, but their public acceptance also depends on whether citizens can identify tangible benefits.
Where the costs of adjustment are immediate but the benefits remain distant, public frustration can deepen.
This makes the 90-day plan particularly significant because it offers an opportunity to demonstrate progress through targeted interventions and measurable outcomes.
The challenge for government will be to ensure that the plan produces visible improvements without undermining the broader reforms intended to strengthen economic stability over the longer term.
Transparency and Accountability in Public Spending
NEC’s approval of a national dashboard to monitor ongoing projects introduces an accountability dimension to the economic intervention.
The platform is expected to improve transparency in project implementation and provide a clearer picture of how public resources, including proceeds from fuel subsidy removal, are being utilised.
Such a mechanism could help strengthen public confidence by making it easier to assess whether funds allocated to projects are translating into completed infrastructure and improved services.
It could also support coordination among federal and state authorities by providing information on project status, implementation challenges and outstanding commitments.
However, the effectiveness of the proposed dashboard will depend on the quality and timeliness of the information supplied, the frequency of updates and the willingness of relevant institutions to disclose accurate project details.
Transparency alone does not guarantee accountability. Its value lies in enabling citizens and oversight institutions to identify gaps, question delays and demand explanations where public resources are not producing the intended results.
For the dashboard to fulfil its purpose, it must function as more than a reporting platform. It should support evidence-based decisions and strengthen the mechanisms through which government performance is assessed.
Ebola Preparedness: Strengthening Public Health Security
Beyond the economic agenda, NEC reviewed Nigeria’s preparedness following a reported Ebola outbreak in the Federal Capital Territory.
The Minister of Health and Social Welfare, Professor Muhammad Ali Pate, briefed the Council on measures being taken to contain the situation.
He assured members that Nigeria had the institutional capacity to respond, identifying coordination among agencies, screening at entry points, laboratory testing, the availability of essential kits and personal protective equipment, and public communication as key elements of the response.
Pate disclosed that 21 state governments had updated their response plans and urged the remaining 15 states to establish appropriate preparedness and response measures without delay.
The briefing underscored the importance of preparedness, particularly in a country where the movement of people across state boundaries requires coordinated surveillance and rapid communication among health authorities.
Effective disease control depends not only on national institutions but also on the readiness of state governments, the capacity of laboratories, the availability of protective equipment and public cooperation with health guidance.
The Council’s consideration of the issue reinforces the need to integrate public health security into broader governance priorities, given the potential human and economic consequences of an uncontrolled outbreak.
Polio Eradication Requires Sustained Commitment
NEC also considered a report from its Ad Hoc Committee on Polio Eradication, chaired by Gombe State Governor Muhammadu Inuwa Yahaya.
The Council directed states to review immunisation campaigns, particularly in areas where children had been missed and communities affected by insecurity.
It called for the timely release of counterpart funding, stronger routine immunisation, improved coordination with security agencies and greater cooperation among states.
NEC further stressed that governors, traditional rulers and security agencies must remain committed to efforts to eradicate polio in Nigeria.
The emphasis on missed children and insecure communities reflects the continuing challenge of reaching every eligible child with life-saving vaccines.
In areas affected by conflict and population displacement, routine immunisation campaigns can be disrupted, leaving children vulnerable to preventable diseases.
Strengthening collaboration between health workers, community leaders and security agencies could improve access to such communities and help identify children who have not received the required vaccinations.
Timely funding is equally important because delays in releasing counterpart contributions can affect campaign schedules, logistics and the availability of personnel.
The Council’s directives therefore point to the need for sustained political commitment and coordinated action if Nigeria is to strengthen its polio eradication efforts.
Livestock Development as an Economic Opportunity
NEC also received a report from its Ad Hoc Committee on Livestock Development, chaired by Kebbi State Governor Nasir Idris.
The Council acknowledged the sector’s potential to generate employment, stimulate economic growth and improve livelihoods across the country.
It noted that all states had expressed interest in supporting the Federal Government’s livestock development initiatives and called for stronger collaboration between the two levels of government to accelerate reforms.
The livestock sector presents opportunities across several interconnected activities, including animal production, feed processing, veterinary services, meat and dairy processing, transportation and marketing.
Investment in these areas could support job creation, improve productivity and strengthen the contribution of livestock to the national economy.
Realising that potential, however, requires coordinated investment, appropriate infrastructure, access to veterinary care, improved production systems and effective engagement with stakeholders across the value chain.
Federal and state cooperation will be essential to developing programmes that respond to local conditions while supporting broader national objectives.
The 90-Day Test
NEC’s endorsement of the economic action plan brings together several priorities that directly affect the welfare of Nigerians, from food affordability and transportation to investment, public health and employment-generating sectors.
The breadth of the Council’s deliberations reflects the interconnected nature of economic and social development. Rising transportation costs can affect food prices, inadequate healthcare can undermine household finances, and weak infrastructure can discourage investment and limit employment opportunities.
Addressing these challenges requires more than isolated interventions. It demands coordination, reliable funding, clear responsibilities and effective monitoring.
The proposed 90-day plan offers the government an opportunity to demonstrate that its reform agenda can deliver practical benefits within a defined timeframe.
But its credibility will ultimately depend on the outcomes achieved.
Nigerians will be looking for evidence of improved food affordability, more accessible transportation, greater transparency in public spending and policies that create opportunities for businesses and workers.
Similarly, the Council’s directives on Ebola preparedness, polio eradication and livestock development will require follow-through by the relevant authorities to translate resolutions into concrete action.
The national project dashboard could provide a useful mechanism for monitoring progress, but the more important task will be ensuring that the information it generates leads to timely decisions and measurable improvements.
As the government pursues its ambition of reducing inflation and interest rates to single digits by 2027, the immediate priority remains ensuring that economic policy is felt beyond official statements and macroeconomic projections.
Ultimately, the success of NEC’s 90-day economic plan will not be determined by the number of resolutions adopted, but by whether Nigerians begin to experience meaningful relief in their daily lives.
Otabe is the Publisher of FirmNews
