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Economy

See list of members of the National Economic Council

This is an introduction to the full list of the National Economic Council (NEC) which was inaugurated yesterday by President Muhammadu Buhari.

The list is made up of all the Governors of the thirty-six states of the Federation, key members of the ruling party’s Economic Management Team, and the Vice President of Nigeria who serves as the Chairman.

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Their Responsibilities: The main function of the National Economic Council is to assist for the formulation and implementation of policies that will help Nigeria to actualise its economic ambitions over the next four years. See below for the detailed breakdown of NEC’s responsibilities.

 

 

  • Advice President Muhammadu Buhari on Nigeria’s economic policy
  • Co-ordinate Nigeria’s economic planning efforts at both the Federal, State, and Local Government levels.

The National Economic Council holds meetings once every month in Abuja as required by the 1999 Constitution of the Federal Republic of Nigeria which established it. Periodically, ad hoc committees are set up to perform specific tasks, after which they are dissolved. another one is established.

READ MORE:  Nigeria Lags Peers in Home Ownership Rate at 25% for 200m Population

 

The first ad hoc committee to be constituted by the by President Buhari’s second-term National Economic Council was tasked to reconcile the Excess Crude Account, Nigerian National Petroleum Corporation’s remittance, and related issues.

Members of the ad hoc committee include Governor of Kaduna Nasir Ahmad el-Rufai, Edo State Governor Godwin Obaseki, Jigawa State Governor Badaru Abubakar, and Ebonyi State Governor Dave Umahi.

The next National Economic Council meeting is slated to hold in July 2019.

Source: NairaMetrics

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