President Bola Tinubu on Monday reaffirmed the importance of the National Economic Council (NEC) as a key institution for strengthening fiscal federalism and economic governance in Nigeria.
The President spoke at the second edition of the NEC Conference, themed “Delivering Inclusive Growth and Sustainable National Development: The Renewed National Development Plan 2026–2030,” held at the State House Conference Hall, Abuja.
Tinubu said the conference theme reflected Nigeria’s determination to move from economic recovery to transformation, and from narrow growth to inclusive, resilient and sustainable development.
He noted that the country was at a defining crossroads, facing structural challenges such as macroeconomic imbalances, infrastructure deficits, unemployment, poverty, climate vulnerability and limited fiscal space.
Reforms to Stabilise the Economy
Despite these challenges, the President said Nigerians possess the resilience and creativity needed to overcome current difficulties.
He explained that since the beginning of his administration, bold and necessary reforms had been implemented to stabilise the economy, restore confidence and lay the foundation for long-term growth.
According to him, recent monetary policy measures have started producing positive results and are gaining recognition globally.
Gains in Cooperative Federalism
Tinubu said his administration had recorded notable achievements demonstrating its commitment to cooperative federalism and inclusive development.
He stated that states and local governments now receive increased and more predictable federal allocations, improving their ability to pay salaries, invest in infrastructure and provide social services.
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The President added that macroeconomic stability had been strengthened through improved revenue performance, enhanced public financial management and better fiscal coordination.
He said the government had prioritised infrastructure development in transportation, power, digital connectivity, housing and irrigation to drive inclusive growth.
Tinubu also noted that social investment and human capital programmes had been expanded to support vulnerable households, youths, women and small businesses.
Renewed National Development Plan
The President explained that the Renewed National Development Plan prioritises economic diversification, productivity, human capital development, sub-national competitiveness based on comparative advantage, private sector–led growth and climate resilience.
He stressed that effective implementation at the state and local government levels would determine the success of the plan, making NEC central to aligning national priorities with sub-national realities.
Tinubu urged stakeholders to move from policy declarations to concrete action through data-driven decision-making, peer learning among states and innovative financing models.
Shettima: NEC Gives States a Voice
Vice-President Kashim Shettima, Chairman of the NEC, said the council provides a platform for all constituent units of the federation to shape Nigeria’s economic future.
He described NEC as a forum that reflects national realities and serves as a catalyst for action, adding that inclusive growth must translate into tangible improvements in citizens’ daily lives.
Governors Stress Coordination
Chairman of the Nigeria Governors’ Forum and Governor of Kwara State, AbdulRahman AbdulRazaq, said intergovernmental coordination remained critical to achieving inclusive growth.
Represented by Ogun State Governor, Dapo Abiodun, AbdulRazaq said federal policies require effective execution at the state level, while state initiatives must align with national objectives.
He added that sustainable national prosperity would be achieved through cooperation, shared responsibility and disciplined implementation rather than centralisation or fragmentation.
Rafiyat Sadiq is a political, justice, and human rights reporter with Pinnacle Daily, known for fearless reporting and impactful storytelling. At Pinnacle Daily, she brings clarity and depth to issues shaping governance, democracy, and the protection of citizens’ rights.
