NEC seeks stronger agriculture, energy, manufacturing sectors to strengthen economic gains

…Endorses Revised National Social Protection Policy

…As FG commences rehabilitation of 13 Police training institutions

…Says economic gains must translate into jobs, stronger purchasing power

The National Economic Council (NEC), on Thursday, adopted the new national social protection policy, with a call on the Federal Government to prioritise investments in main drivers of the economy, including agriculture, energy, manufacturing, mining, and the digital economy.

The Council had noted that there is need to invest more in agriculture which employs over 81.4% of Nigeria’s population and the need to also boost the non-tradable services.

Taiwo Oyedele, Minister of Finance and Coordinating Minister of the Economy, stated this while briefing State House Journalists after the 160th meeting of the National Economic Council (NEC), chaired by Vice President Shettima.

Oyedele, who briefed the Council on the gains record led by the economy, said the “Council noted that there is need for us to accelerate growth in these sectors where majority of our people work.

“That way, we leave them out of poverty and we close the inequality gap” he stated

The Council also identified other areas requiring urgent attention such as “geopolitical conflict, commodity shocks and persistent food inflation”.

Ahead of the 2027 election, the Council also tasked the Federal Government on the need to”manage election cycle fiscal risk, and even the narrative, because there is a tendency to be negative pre-election”.

Oyedele states that, even though it is not supported by data, but there is the need to “ensure that there is job-rich growth, manage FX vulnerability to avoid portfolio flow…