On Thursday, June 20th, President Muhammadu Buhari inaugurated the National Economic Council (NEC) which will help to steer/oversee the country’s economic ambitions for the next four years.
The NEC Membership is comprised of all the Governors of the thirty-six states of the Federation, as well as the Vice President of Nigeria. See the list below.
[table “202” not found /]The President’s Message to the Governors: During the inauguration ceremony, the President disclosed that henceforth (between 2019 and 2023) State Governors will have to brace up and find ways to generate their revenues internally. This is because President Muhammadu Buhari does not plan to offer bail-outs for any States during his second term.
Instead, he said the Governors should rather look inward and focus on improving their Internally Generated Revenue (IGR) and Value Added Tax (VAT) collection.
“Going forward, States must in the next four years find ways to increase internally generated revenues, improve VAT collection and increase agricultural output without disrupting business activities.”
Recall that during President Buhari’s first term, the administration released a series of bailout funds to State Governments to help them meet up with their financial obligations in the face of economic recession.
Today I inaugurated the National Economic Council (NEC), for the next four years. The Federal and State Governments must deepen collaboration on security, education, health and agriculture, to make a difference in the lives of our people. pic.twitter.com/kMHqcYNM66
— Muhammadu Buhari (@MBuhari) June 20, 2019
[READ MORE: Buhari inaugurates NEC, targets all-inclusive healthcare provision]
“Let me restate the high expectations on NEC as a veritable source of articulating policies and programmes that are expected to drive growth and development, secure our environment and take the country to the next level.
“I also want you to work with the Federal Agencies and the service providers in ensuring that broadband infrastructure is made available all over the country. Information and Communication Technology is the future of work and we must not allow ourselves to be left behind.”
“Your Excellencies, the challenges that confront us in the next few years, especially in the areas of security, human capital development and employment for our youths are monumental and historic. But we are more than equal to the task.
“I, therefore, urge the NEC Coordination Team to press forward with key initiatives that will strengthen the implementation mechanism, enhance cooperation across States and further promote joint deliberations, peer learning and experience sharing, under a very strong Monitoring and Evaluation Framework”
“Your Excellencies, I want you to pay special attention to the four major issues of security, education, health, and agriculture in the coming years of this tenure. As you are no doubt aware, our successes in these four areas will go a long way in lifting our people out of poverty and secure our future for sustainable growth and development.
“On Security, the government will continue to rate the security of lives and properties as the top priority on our agenda. We are firmly committed to securing the territorial integrity of our nation while confronting the remnants of terrorists, bandits and other criminals across the country.”