Breaking Down The 137th NEC Session: Shettima Chairs Meeting, Shares Crucial Updates

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Shettima issued this directive on Thursday during the 137th National Economic Council (NEC) meeting convened at the Council Chamber of the Presidential Villa in Abuja…CONTINUE READING

In his opening remarks at the gathering, Shettima emphasized the importance of acknowledging the agrarian nature of the economy and advocated for intentional value addition in the agricultural sector, shifting away from commodity exports to focus on job creation.

Highlighting the significance of collaboration, Shettima aligned the advice with the African Development Bank’s (AfDB) dedication to establishing Specialized Agro Processing Zones (SAPZ) in Nigeria.

He urged concerted efforts to develop the agricultural sector towards self-sufficiency and the exportation of processed agricultural products, aligning with the African Union’s Africa 2063 Agenda and AfDB’s commitment to SAPZ.

The vice president also suggested the involvement of the private sector in addressing floods and natural disasters, citing the financial challenges associated with managing such crises.

He underscored the potential role of innovative capital from the private sector in sharing and mitigating fiscal and economic risks related to natural disasters, drawing on successful examples from other African nations.

Shettima reminded the Governors and NEC members of President Bola Tinubu’s eight presidential priorities, urging active participation in finding both short-term palliative and lasting solutions to the consequences of government reforms.

Additionally, key highlights from the meeting included updates on the Excess Crude Account (ECA), stabilization funds, and a presentation on flood mitigation by Governor Yahaya Bello of Kogi State.

Other presentations covered National Catastrophe Insurance, Nigeria’s Health Sector Renewal Programme, and the Special Agro-Industrial Processing Zone (SAPZ) Programme by Senator Abubakar Kyari, the Minister of Agriculture and Food Security.