Below are the
main highlights of the 76th meeting of the National Economic Council (NEC) held
today, April 27, 2017, in Abuja.
The highlights
were provided by Laolu Akande, the senior special assistant to the vice
president on media and publicity.
NEC, a
constitutional body that charts Nigeria’s economic direction, is composed of
all the 36 state governors, the minister of the Federal Capital Territory and
the governor of the Central Bank of Nigeria.
Thursday’s
meeting was presided over by Vice President Yemi Osinbajo, who is chair of the
council.
Below
are the issues discussed according to Premiumtimes.
NEC
(3RD IN 2017) 76TH NEC MEETING –THURSDAY, 27TH APRIL, 2017
NATURAL
RESOURCES FUND AND ECOLOGICAL FUND
The
Accountant- General of the Federation briefed Council on the Development of
Natural Resources and Ecological Funds as follows:
That the
Natural Resources Fund balance as at 31/3/17 – N70.9 billion
• Ecological
Fund balance as at 31/3/17 – N33.645 billion
• States and
Local Governments now to keep their share of Resources Fund and Ecological Fund
for use of intervention as the need arises in their respective jurisdictions.
• Council also
decided that an audit of the Ecological Fund be carried out by an Committee of
governors and federal ministers.
• The
Committee is comprised of the Governors of Oyo, Borno, Imo, Kaduna, Anambra,
Akwa Ibom, Benue States, and the Ministers of Finance and Environment.
This Committee
will audit the Ecological Fund and come up with policy recommendations on how
the fund should be managed and disbursed.
PARIS CLUB
REFUND
• The
Honourable Minister of Finance gave an update on the disbursement of the Paris
Club refunds and addressed issues about the next round of the payments to the
States after the first disbursements.
• State
Governors at the meeting expressed appreciation to the President for the
previous disbursements of the refund, which is more than 10 years overdue, and
noted their expectations for the next round of refund from the FG.
EXCESS CRUDE
ACCOUNT
• The Honourable
Minister of Finance also told Council that the Balance in the Excess Crude
Account as at April 26, 2017 stands at US$2.2billion.
FAAC BUDGET
ESTIMATE
• The
Honourable Minister of Finance presented a Budget Estimate for the operation of
the Committee and Council approved.
OPERATION OF
EFFICIENCY UNIT – FEDERAL MINISTRY OF FINANCE
• The Ministry
of Finance also made presentation to Council on the Operations of the
Efficiency Unit located in the Federal Ministry.
• Council was
informed that the Unit has been able to save the FG a whopping of N17 billion
since it was established.
• Council
appreciated the presentation and urged that States also should establish
Efficiency Units in order to entrench systems that will improve efficiency,
reduce cost and block leakages in line with the fiscal sustainability plan.
SOCIAL
INVESTMENT PROGRAMME OF THE FG
• The Vice
President updated Council on the progress of four of the Social Investment
Programmes of the Administration, namely: N-Power, Conditional Cash Transfer,
Homegrown School Feeding Programme and the Government Enterprise and
Empowerment Programme (GEEP), for micro –credits.
• Council was
also briefed about certain impediments and programme implementation delays
noticed in the FG/States Government’s collaboration and resolved to end such
obstacles to the successful implementation of the SIPs.
• Council
therefore resolved to upgrade the States coordination units for the FG’s SIP to
the Governor’s offices for better and more effective FG/State collaboration
UPDATE ON
MENINGITIS
• Honourable
Minister of Health made a presentation to Council on the update on the
Meningitis Outbreak as follows:
• That there
have been 9,646 suspected cases of Meningitis affecting 6 States in the
country, namely Zamfara, Katsina, Sokoto, Niger, Kebbi and Kaduna
As at April
25, 2017, about 767 deaths had occurred, representing 9% of the infected
population
• About N46.7
billion is required to vaccinate the valuable population
• Council
expressed grave concern over the ravaging effects of the meningitis epitome in
parts of the country and directed the Federal Ministry of Health to intensify
its intervention efforts to contain the embarrassing epidemic, while advocating
for increased funding for Health.
• The Minister
in his presentation called for the establishment of a National Health Emergency
Fund to be domiciled in the Presidency under the supervision of NEC Chairman.
ARMED
HERDSMEN/FARMERS CONFLICT
• The National
Security Adviser (NSA) today briefed Council on the security situation in the
country, particularly as it has to do with conflict between armed herdsmen and
farmers, especially in Kaduna, Taraba and Benue States among others.
• He told
Council that security agencies have commenced a nationwide crackdown on armed
herdsmen, gun runners, cattle rustlers, militants, militias and others
perpetrators of violence.
• Governors
gave a robust response to the presentations, commending efforts of the FG so
far in tackling the security challenges and advocated for more collaboration
between the FG and States.
• Council
resolved that there is need to have an extraordinary session dedicated to
discussing security issues in the country as a means to deepening the issues
and effectively addressing the menace.
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