President Muhammadu Buhari Thursday inaugurated the National Economic Council (NEC) for 2019 to 2023 at the Presidential Villa in Abuja.
He urged governors of the 36 states of the federation to find ways of increasing their internally generated revenue, promote agriculture and shore up their Value Added Tax (VAT).
The president also urged National Economic Council chaired by Vice President Yemi Osinbajo to pay special attention to security, education, agriculture and health.
He said the success of the council in the four critical areas would go a long way in enhancing the standard of living of the citizenry.
While reiterating the commitment of his administration to protect the country’s territory, the president said everybody must contribute in addressing the security challenges facing the country.
“While the federal government has primary responsibility for security and will not shy away from it, the States also have a critical role to play; in particular Your Excellencies, as State Governors. You can definitely make a difference, not just by assisting the security agencies in your respective States, but also by keenly pursuing policies and programmes that forestall communal, tribal, religious and societal conflicts; policies and programs that promote education, information, dispute resolution, vocational training and youth employment.
“I have no doubt that if these four areas – security, education, health and agriculture – are actively implemented and closely monitored by NEC and the Governors’ Forum, we shall in the near future see a more peaceful and prosperous Nigeria.
“The federal government in the last four years has demonstrated unwavering inclusiveness in dealing with every state, notwithstanding the political leaning of the governor or the predominant party in power at the State level. I want this to be your model at the State level. No matter which party we belong to, let us shun divisive policies and join hands together for the upliftment of our people.
“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. 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,” he said.
The president said there are high expectations on the National Economic Council as a veritable source of articulating policies and programmes that are expected to drive growth and development, secure the environment and take the country to the next level.
“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,” he said.
Also speaking, Vice President Yemi Osinbajo said the National Economic Council was an important body for developing, advising and implementing issues relating to the country’s economy.
The National Economic Council is established by the 1999 Constitution of the Federal Republic of Nigeria as amended. By virtue of Section 153 and paragraph 18 of the Third Schedule to the Constitution, NEC has the mandate to advise the president on economic policy of the country and in particular, co-ordination of the economic planning efforts, and programmes of the three tiers of government.
The council had in the last four years held 38 meetings and set up 10 Ad-Hoc Committees to address various issues of national concern. In the course of its deliberations, it came up with a total of 173 resolutions, cutting across eight areas, namely; Agriculture and Solid Minerals; Investments Promotion and Industrialisation; Monetary and fiscal stability and Infrastructure.
