Buhari inaugurates NEC, assures fair distribution of federal allocation


FILE PHOTO: President Muhammadu Buhari, Prof Yemi Osinbajo and the 36 governors
Nigerian president, Muhammadu Buhari has formally inaugurated the National Economic Council (NEC) assuring the governors of the 36 states of fair distribution of federal allocation.
At the inauguration ceremony held at the Council Chamber of Presidential Villa in Abuja, he noted there will be more transparency and accountability in this administration.
Read Buhari’s full speech at the inauguration.
I am delighted to be here with you at this occasion on the inauguration of the National Economic Council (NEC) for this Administration. The National Economic Council was established by the provisions of the Constitution of the Federal Republic of Nigeria (1999), as amended, Third Schedule, Part I, Section 153: Sub section (18 & 19). The NEC, as one of the Federal Executive bodies, has the mandate to advise the President concerning the economic affairs of the Federation, and in particular on measures necessary for the co-ordination of the economic planning and programmes of the various Governments of the Federation.
2. Your Excellencies, the regular meetings of the National Economic Council have remained the official economic platform for dialogue among the thirty six (36) State Governors, the Governor of Central Bank of Nigeria and other co-opted members, chaired by the Vice President, where issues and challenges facing the development of the country, at national and sub-national levels, are discussed with a view to develop and harmonize common strategies for addressing them.
3. You may recall, that in my inaugural speech, on May 29, 2015 I stated that the primary objective of this Administration is to tackle insecurity; youth unemployment, through the revival of agriculture, solid minerals mining, as well as small and medium size businesses. I also highlighted pervasive corruption; fuel and power shortages; public service reforms; and the need to allow every tier of Government …Read More

Source:: PM Newspaper