The National Economic Council (NEC) has taken aggressive initiatives to assure food security and address the country’s economic issues, such as making fertiliser available to farmers and deploying Agro-Rangers to combat farm insecurity.
According to a statement issued by Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications, the decision was made on Thursday during the Council’s 139th virtual meeting, which was headed by Vice President Kashim Shettima.
This comes as the Vice President has stated that Nigeria will overcome its economic issues by working together to build a clear and practical plan based on short-term, medium-term, and long-term objectives.
Following a presentation on food security by the country’s Minister of Agriculture and Food Security, Abubakar Kyari, Vice President Shettima presided over a federal government meeting with major fertilizer companies such as Indorama, Dangote, and Notore.
The NEC observed that fertilizer is a key component of agricultural production, which the government is working to achieve, and asked state governors to use contemporary agricultural practices to boost productivity.
The Council also explored the establishment of Agro-Rangers in the short term, as well as the possibility of establishing state police in the medium run, to handle farmer security risks. This came following a presentation by Senator Ibrahim Geidam, Minister of Police Affairs.
To combat rising food prices, the government plans to release 42,000 metric tonnes from the National Strategic Reserve.
The Minister of Agriculture has called for action against the dollarization of domestically produced goods such as urea, which has a negative influence on fertilizer costs and agricultural production.
Meanwhile, Vice President Shettima has urged for prudent economic policies that meet Nigerians’ aspirations.
He expressed hope that Nigeria can overcome its current economic issues by concerted efforts to build a clear and executable plan based on short-term, medium-term, and long-term objectives.
The Vice President also expressed sadness that Nigeria has been a victim of a strong aversion to adapting and keeping up with the changing global economic order, resulting in a scenario in which painful decisions to maximize its potential have become unavoidable.
We must either steer the economy to a state of prosperity and competitiveness, or prepare for an effect that we are unlikely to endure. So, in addition to the legacy of our financial and monetary crises, we must compare notes to grasp the interconnection of the dysfunctions in each area of the economy,” he said.
The appeal to secure and liberate areas under threat of violence, the majority of which are arable fields held by our agricultural community, is more than just a security issue; it is also a strategic move to resuscitate our country’s economic lifeblood,” he said.
Noting that citizens are only interested in tangible results, the VP stated: “Your Excellencies, distinguished ladies and gentlemen, while economic experts predicted this transitional phase on our path to a prosperous future, it is critical to recognize that the average citizen on the street is unconcerned with any economic theory. Their daily worries are rooted in the real.
They are more concerned with corn prices than with GDP estimates. So, as we debate complex economic ideas today, let us stay tuned in to the nation’s heartbeat. We must ensure that our judgments are consistent with the aspirations of the ordinary man and woman who entrust us with their hopes and goals.
Recognizing that the country is in the grip of a widespread emergency, VP Shettima urged state governors, ministers, and other NEC members to connect their thoughts and actions with the reality on the ground.
Other highlights of the meeting include:
• Update on work done by the adhoc committees on oil theft prevention and economic matters set up in December.
UPDATES ON ACCOUNT BALANCE:
The Honourable Minister of Finance and Coordinating of the Economy gave Council update on the underlisted Accounts as follows:
EXCESS CRUDE ACCOUNT
$ 473, 754.57NATURAL RESOURCES
N114, 343, 535, 696.46STABILISATION ACCOUNT
N34, 315,780, 894. 45
PRESENTATION ON HEALTH SECTOR WIDE APPROACH AND SIGNING OF COMPACT AGREEMENT WITH STATES BY THE HONOURABLE MINISTER OF HEALTH AND SOCIAL WELFARE
The council was called to note that the goal of the sector is to save lives, reduce both physical and financial pain and produce health for ALL Nigerians.
On health, the council resolved that there is a need for states to enhance their governance systems and structures, accountability frameworks, strengthen fiduciary systems and develop comprehensive performance management systems.
Clearly, there is a need for states to better engage with the federal government and ensure that we have one plan in delivering quality health plan to Nigerians.
UPDATE ON THE NEC COMMITTEE ON FLOODS
Following a probable flood warning from the Lagdo dam in October 2023, His Excellency the Chairman of the National Executive Council revived an existing ad hoc committee.
The group was tasked with developing a flood prevention and response strategy, as well as an immediate plan of action to lessen the impact of floods on the country and Nigerians.
This committee issued a report with significant recommendations and a strategic plan of action, which was presented at the NEC meeting held on October 18, 2023.
Given the current situation in the country, the NEC ad hoc Committee on Flood was tasked with investigating projections for the 2024 rainy season and presenting its findings at the next Council meeting to guarantee preparedness and proper response ahead of the 2024 rainy season.
The committee has been tasked with collaborating with specialists from various agencies to ensure that relevant data on the 2024 flood forecast is made available, that reports are reviewed as needed, and that recommendations are given to the NEC on how to best prepare for and respond to the 2024 flood season.
Council decided to select Ahmed Usman Ododo, the Governor of Kogi State, to succeed his predecessor as chairman of the Committee on Flood Mitigation, Adaptation, Preparedness, and Response.