The National Economic Council (NEC) has endorsed a 90-day economic action plan aimed at easing the cost of living for Nigerians, improving food affordability, creating jobs and attracting investment.
The decision was reached at the Council’s 161st meeting on Thursday, October 22, 2026, chaired virtually by Vice-President Kashim Shettima, following a presentation by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele.
The plan focuses on five priority areas: making food more affordable, harmonising taxes, completing high-impact projects, removing barriers to investment and providing regulated support to households.
The Council also endorsed the establishment of a national dashboard to monitor projects across the country, with particular attention to transparency, accountability and the use of funds saved from the removal of the petrol subsidy.
Speaking at the meeting, Shettima urged state governors and relevant government institutions to ensure that the benefits of President Bola Tinubu’s economic reforms translate into tangible improvements in Nigerians’ daily lives.
He identified affordable transportation, accessible healthcare, job creation and improved financial security as essential measures of economic progress.
On transportation, the Council approved a proposed joint financing framework involving federal and state governments to accelerate the deployment of compressed natural gas (CNG)-powered and electric vehicles. It also called for engagement with transport operators and unions to ensure that savings from alternative-energy vehicles translate into lower fares for commuters.
Oyedele expressed optimism about the economic outlook, identifying further reductions in inflation and interest rates as policy objectives, with the government targeting single-digit levels by 2027.
However, the effectiveness of the 90-day plan will depend on implementation by federal and state authorities and whether its interventions produce measurable relief for households and businesses.
The endorsement comes amid continued pressure on household budgets, with food, transportation and other essential expenses remaining major concerns for many Nigerians.
The Council’s position underscores the need for economic reforms to deliver practical benefits beyond improvements in headline economic indicators.