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AT FIRST NEC OF THE YEAR

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AT FIRST NEC OF THE YEAR

Council Moves To Boost Non-oil Revenue, Deepen Engagement With Stakeholders

Cross River Governor Chairs Bi-Partisan Committee On Legacy Projects

VP Shettima: Agriculture, other non-oil sectors, increasingly bearing Nigeria’s revenue weight

By: Our Reporter

The National Economic Council (NEC) has resolved to deepen engagement with stakeholders to boost non-oil revenues in line with the economic blueprint of the administration of President Bola Ahmed Tinubu.

This is just as Chairman of the Council, Vice President Kashim Shettima called for accelerated transition from oil to non-oil economy through competitive manufacturing, export diversification, and private sector investment.

The Council has also approved the constitution of a Committee on the implementation of the President’s directive on the actualisation of the legacy projects.

The committee is chaired by the Governor of Cross River State while one governor from each sub-region will serve as member of the committee as follows: North West (Sokoto), North East (Gombe), North Central (Niger), South East (Abia), and South West (Lagos).

The Permanent Secretary of the Ministry of Budget and Economic Planning, Deborah Odoh, shall serve as Secretary, while the Ministers of Works and Trasnportation will also serve on the committee.

NEC’s decision, taken on Thursday during its 156th meeting and first of the year which washeld virtually, followed a presentation on the economic priorities for 2026 by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.

The presentation highlighted key reforms implemented by the Tinubu administration, including targeted programmes that have removed distortions in the system, stabilised the economy and put Nigeria on the path of sustained recovery and prosperity.

The presentation also reflected the country’s current global recognition, which is reinforcing investor confidence in the economy projected to grow at 4.68% in 2026.

The key priorities according to the Minister, include maintaining Nigeria’s economic competitiveness through sound governance, improved availability and affordability of food, ensuring human capital development with improved social protection and timely payment of debt service, salaries and pensions.

In its resolution, NEC noted and commended the Federal Government’s plans to unlock rapid and sustained job-rich growth, high-quality jobs, and entrepreneurship opportunities.

The Council also resolved to dedicate a special session to address salient issues raised in the country’s food security efforts, particularly issues bothering on agricultural productivity.

In his opening remarks, Vice President Shettima observed that while “global powers assert their interests with renewed confidence, commodity markets will remain volatile,” with oil prices, exchange rates, and capital flows frustrating the nation’s policies.

He noted that the current economic reality has reinforced the urgency of fiscal risk management and the need to reduce the nation’s economic and revenue exposure to oil.

According to him, the non-oil economy has emerged as the backbone of Nigeria’s growth story, accounting for about 96 per cent of the country’s GDP and is expanding at about 4 per cent.

“Services, agriculture, and other non-oil sectors are increasingly carrying the weight of the economy. More importantly, non-oil revenues now contribute nearly three-quarters of total government collections.

“This marks a significant, if gradual, departure from our historic dependence on volatile oil receipts. The task before us is to deepen this transition through competitive manufacturing, export diversification, and private sector investment,” he said.

VP Shettima who is Chairman of NEC acknowledged that while it was the first meeting of the Council for the year 2026, the consequences of the choices made last year demand coherence, courage, and consistency in the new year.

“This moment in our journey calls for neither triumphalism nor despair. What it calls for is perspective. The Nigerian economy has travelled a difficult road over the past year, but it has not travelled it without progress,” he pointed out.

Noting that the nation’s economy witnessed significant growth in 2025, Senator Shettima attributed the rapid growth to the visionary leadership of President Bola Ahmed Tinubu.

His words: In 2025, our economy expanded by 3.9 per cent, the fastest rate of growth in over a decade. Quarter by quarter, this momentum was evident: growth strengthened from 3.13 per cent in the first quarter to 4.23 per cent in the second, before settling at 3.98 per cent in the third.

“This is the outcome of hard decisions taken in difficult circumstances, and this is not a surprise with a visionary like His Excellency, President Bola Ahmed Tinubu, leading the charge.”

The Vice President said, however, that acceleration of economic growth must not be confused with adequacy, observing that “a growth rate of 3.9 per cent, while encouraging, is not sufficient to decisively reduce poverty, generate jobs at the scale our population demands, or lift per capita incomes in a way that ordinary Nigerians can feel.

“With population growth at about 2.6 per cent annually, this rate of expansion leaves us with little room to absorb inflationary pressures or external shocks. Our ambition, therefore, must be higher,” he added.

Highlights of other deliberations and resolutions at the NEC meeting are as follows:

UPDATE ON ACCOUNT BALANCES AS AT 14th January 2026

The Accountant-General of the Federation gave update to Council on the under listed accounts as follows:

Excess Crude Account $535,823.39

Stabilization Account N64,652,693,552.36

Natural Resources Account N97,369,382,081.96

BRIEF ON THE IMPLEMENTATION OF PRESIDENT BOLA AHMED TINUBU, GCFR DIRECTIVES TO THE NATIONAL ECONOMIC COUNCIL (NEC) ON THE CONSTRUCTION OF LAGOS-CALABAR AND SOKOTO-BADAGRY HIGHWAYS

Council was briefed on the level of implementation of Mr. President’s directive concerning the Lagos-Calabar and the Sokoto-Badagry Super Highways, in accordance with the Administration’s Agenda.

In the report, Council was called to note that the President, Federal Republic of Nigeria, Senator, Bola Ahmed Tinubu, GCFR addressed the National Economic Council (NEC) during the 150th (3rd in 2025) meeting held on Thursday, 31st July 2025 where he underscored the need to properly manage the setbacks along the highways to create some form of investments/economic activities.

Flowing from the above, the NEC Secretariat interfaced with the Office of the Secretary to the Government of the Federation (Cabinet Office) on the assignment and was informed that the process had commenced, and is being overseen by the Office of the Secretary to the Government of the Federation.

Similarly, the Office of the Surveyor-General of the Federation has been moved to the Presidency in compliance with Mr. President’s directive.

PRAYER

Council is invited to note the level of implementation of Mr. President’s directive on setting up a committee for actualization of the administration’s legacy projects especially the Lagos-Calabar and the Sokoto-Badagry Coastal Highways and the movement of the Office of the Surveyor-General of the Federation from the Federal Ministry of Works to the Presidency.

COUNCIL RESOLUTION:

The Council constituted a Presidential NEC Committee on the implementation of the President’s directive.

The committee is chaired by the Governor of Cross River State while one governor from each sub-region will serve as member of the committee, namely: North West (Sokoto), North East (Gombe), North Central (Niger), South East (Abia), and South West (Lagos).

The Permanent Secretary of the Ministry of Budget shall serve as Secretary, while the Ministers of Works and Trasnportation will also serve on the committee.

PRESENTATION ON THE NEW WORLD BANK-NIGERIA COUNTRY PARTNERSHIP FRAMEWORK

In the World Bank Group briefing to Council on Partnership Framework Consultations (CPF), the presentation outlined how the World Bank Group supports Nigeria’s development goals.

It emphasized the shifts towards national programmes implemented at the state level (two-thirds of the active portfolio) and result-based financing (half of the active portfolio), all aimed to achieve impact at scale through fewer, but larger national programmes.

The presentation also talked about the First 2,000 days which includes: Securing Nigeria’s Future; Investing in Stunting Reduction and Early Childhood Development, among others.

The presentation also highlighted what needs to be done when the window for early cognitive development is missed, and when it is too late for recovery.

The WBG also set agenda for 2026 as follows:

January 2026: Agree to the development of a national, state-driven Early Years program under the HCD 2.0 Strategy of the National Economic Council.

January 2026: Nominate an HCD focal person and a senior Budget official to serve as State Early Years leads for engagement.

January – June 2026: Support a diagnostic and multisector dialogue process with your teams to emerge state-wise investment plans. (Immediate)
Immediate: Signal willingness to align budgets and MTSS with the emerging Early Years priorities.

The presentation advised that to move into the group of richer nations, we need to invest in Nigeria’s human capital.

NIGERIA’S SUSTAINABLE AGRICULTURAL VALUE-CHAINS FOR GROWTH (AGROW)

The presentation also highlighted agricultural value-chains to include the following:

$500M Results-Based Program: AGROW introduces a unified national platform tied to measurable outcomes, ensuring accountability and performance-driven implementation.

Co-Created with States & Private Sector: Designed collaboratively by MDAs, state governments, private companies, and development partners to ensure ownership and long-term sustainability, among others.

COUNCIL RESOLUTION:

Council lauded the proposed World Bank Group Country Partnership Framework consultations, which, among other aims, are targeted at investing in young Nigerian children, thereby delivering early results for Nigeria’s children and the future of work.

NEC resolved to take the lead in efforts to work with the World Bank in implementing President Bola Ahmed Tinubu’s Renewed Hope Agenda, having shown the capacity to effectively channel local and foreign resources.
Council committed to providing institutional support and commitment to the World Bank’s proposed framework for Nigeria.

UPDATE ON NIGERIA’S TAX REFORM LAWS PRESENTED BY PRESIDENTIAL FISCAL POLICY AND TAX REFORMS COMMITTEE

Update was presented to Council on Tax Reform. It stated that the reform is to address inequity and promote shared prosperity, a broken tax system, fragmented and complex, unconducive for growth, regressive, high burden on Nigerians & businesses.

The committee gave an overview of the entire tax framework with its priorities, targets, challenges and opportunities for economic transformation.

Council directed the committee to prepare a more comprehensive brief for presentation at NEC’s forthcoming conference in February to prepare the sub-nationals for the robust implementation of the tax laws across the country.

CONCLUSIONS AND PRAYERS

We seek the support of states for effective implementation

  1. Political leadership to support the tax reform
  2. Enactment of Tax Harmonisation Law by states
  3. Adoption of presumptive tax regime for informal sector
  4. Resourcing of state internal revenue service to improve capacity for administration
  5. Approval of National Fiscal Policy

COUNCIL RESOLUTION:

Council resolved to take a more robust engagement on the new tax regime at its forthcoming conference in February.

AT FIRST NEC OF THE YEAR

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Nigeria, UNESCO Launch World’s First Media and Information Literacy Institute in Abuja

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Nigeria, UNESCO Launch World’s First Media and Information Literacy Institute in Abuja

By: Michael Mike

Nigeria has taken a significant step onto the global stage with the launch of the world’s first International Media and Information Literacy Institute (IMILI), a landmark initiative developed in partnership with United Nations Educational, Scientific and Cultural Organisation (UNESCO).

The institute was officially unveiled on Wednesday in Abuja by the Federal Ministry of Information and National Orientation, positioning Nigeria at the forefront of global efforts to strengthen media literacy, combat misinformation, and promote critical thinking in an increasingly complex digital age.

The establishment of IMILI marks a historic milestone not just for Nigeria, but for Africa and the international community, as it becomes the first UNESCO Category 2 Institute globally dedicated solely to Media and Information Literacy (MIL).

Speaking at the launch, UNESCO Assistant Director-General for Communication and Information, Mariya Gabriel, described the institute as a timely and transformative response to one of the defining challenges of the modern era — ensuring that access to information translates into informed, responsible, and empowered societies.

“In a world where the volume of information continues to grow exponentially, the ability to distinguish between reliable and misleading content has become essential,” she said.

IMILI is expected to serve as a global hub for research, innovation, and capacity development in media literacy. It will provide training for educators, policymakers, media professionals, and young people, equipping them with tools to critically engage with information, counter misinformation, and actively participate in democratic processes.

The institute will also support curriculum development, foster international collaboration, and connect Nigeria to a global network of expertise, reinforcing Media and Information Literacy as a universal public good.

UNESCO commended the leadership of President Bola Ahmed Tinubu for his vision and commitment in bringing the initiative to fruition. It also acknowledged the pivotal role played by the Minister of Information and National Orientation, Mohammed Idris Malagi, whose strategic leadership was described as instrumental in advancing the media literacy agenda in Nigeria.

The organisation further recognised contributions from key stakeholders, including the Nigerian National Commission for UNESCO, the UNESCO Abuja Office, and Nigeria’s Permanent Delegation to UNESCO, whose collaborative efforts ensured the successful establishment of the institute.

By hosting IMILI, Nigeria is sending a strong signal that Africa is not only responding to the challenges of the digital age but is actively shaping global solutions. With its vibrant media landscape, youthful population, and expanding digital ecosystem, the country is seen as uniquely positioned to lead this transformative agenda.

Beyond its institutional significance, the launch of IMILI represents a broader commitment to empowering citizens — not just to access information, but to understand, question, and use it responsibly.

As the institute begins operations, it is expected to serve as a catalyst for strengthening trust, promoting informed decision-making, and advancing democratic values across Nigeria, Africa, and the wider world.

Nigeria, UNESCO Launch World’s First Media and Information Literacy Institute in Abuja

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China Hands Over Landmark ECOWAS Headquarters in Abuja, as Leaders Call for Stronger West African Unity

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China Hands Over Landmark ECOWAS Headquarters in Abuja, as Leaders Call for Stronger West African Unity

By: Michael Mike

The Government of China on Tuesday officially handed over the newly constructed headquarters complex of the Economic Community of West African States in Abuja, in a ceremony marked by strong appeals for unity, deeper integration, and renewed commitment to regional cooperation across West Africa.

The event brought together senior government officials, diplomats, and regional leaders, with speakers consistently framing the project as more than infrastructure—describing it as a strategic symbol of partnership, vision, and collective ambition for the sub-region.

President of the ECOWAS Commission, Omar Alieu Touray, described the occasion as a historic milestone, noting that it coincides with the bloc’s 50th anniversary.

“Today marks an important day for ECOWAS and we should all be glad to be witnesses to this momentous occasion marking the official handover of the New ECOWAS Headquarters Complex to the Commission,” he said, adding that the development comes at an opportune time in the organisation’s integration journey.

Touray clarified that the ceremony represents the completion and handover of the building, while the formal inauguration will take place later in the year. The commissioning is expected to be led by Sierra Leone’s President, Julius Maada Bio, in his capacity as Chairman of the ECOWAS Authority, alongside Nigeria’s President, Bola Ahmed Tinubu, and other heads of state.

Reflecting on the project’s origins, he recalled that the groundbreaking took place in October 2023 with funding support from China amounting to approximately $56.57 million.

“As you may recall, back in October 2023, we convened here for the groundbreaking ceremony of this complex… Today, two years after that initiation, we are gathered for the handover ceremony of this remarkable building,” he said.

Touray commended the speed and quality of delivery, noting: “Considering the time usually taken to complete infrastructure projects of this magnitude and complexity, the completion of this ECOWAS Headquarters Complex within two years is highly commendable and we should all applaud our Chinese brothers and sisters.”

He also extended appreciation to Chinese President Xi Jinping, represented by Ambassador Yu Dunhai, for what he described as a generous contribution to regional development, while acknowledging China’s broader support for ECOWAS peace and security operations, including assistance to the ECOWAS Standby Force.

Touray further thanked Nigerian authorities, including the FCT Minister Nyesom Wike, for their support in facilitating the successful execution of the project.

Chinese Ambassador Yu Dunhai, in his remarks, described the headquarters as a flagship project and a symbol of enduring China-Africa cooperation.

“This headquarter building stands as a milestone—it is China’s flagship aid project for ECOWAS and another headquarters for an international organization,” he said, comparing it to other major Chinese-supported institutional projects on the continent.

Affectionately called the “Eye of West Africa,” the ambassador said the structure was completed after “more than 1,200 days and nights of meticulous craftsmanship,” blending Chinese engineering expertise with West African cultural identity.

“The building harmonizes the excellence of Chinese architectural technique with the unique culture of West Africa,” he said, adding that it will strengthen ECOWAS’ operational capacity and serve as a platform for regional development.

Yu also situated the project within broader diplomatic context, noting that this year marks 70 years of China-Africa relations. He said China continues to support African modernization through initiatives such as the “Ten Partnership Actions,” expanded South-South cooperation frameworks, and zero-tariff access for African exports.

“We remain committed to a demand-driven approach that respects African autonomy and sovereignty, translating our support into tangible actions for Africa’s revitalization,” he said.

He reaffirmed China’s support for ECOWAS and praised its role in regional peace and integration, while also acknowledging Nigeria’s leadership in the partnership.

For Nigeria, the host nation, the project carries deep symbolic weight.

Minister of the Federal Capital Territory, Nyesom Wike, said the occasion represented far more than a physical handover.

“Today is not just about the handover of a building. Today marks the handover of a vision. A vision of partnership. A vision of regional solidarity. A vision of a West Africa that is prepared to build the institutions that will carry its future,” he said.

Wike described the headquarters as “more than concrete, steel, and glass,” calling it “a statement that cooperation still matters” and proof that diplomacy can still deliver tangible results.

He emphasized Abuja’s status as a diplomatic hub, noting: “Abuja is not only the seat of government; Abuja is the diplomatic capital of this nation, a meeting point of nations.”

He added: “Great institutions deserve worthy homes,” describing ECOWAS as a key expression of regional identity and hope.

Minister of State for Foreign Affairs, Bianca Odumegwu-Ojukwu, also framed the handover as a historic and symbolic moment.

“It is with profound honour and a deep sense of history that I stand before you today,” she said, describing the event as more than the commissioning of a building, but “the consolidation of a vision, a reaffirmation of unity, and a renewed commitment to peace and sustainable development.”

She highlighted ECOWAS’ role since 1975 in conflict prevention, peacekeeping, economic integration, and governance, stressing that the new headquarters would enhance institutional efficiency and coordination.

“This new Headquarters therefore symbolizes more than administrative convenience. It is a strategic asset that will enhance institutional effectiveness… and reinforce the capacity of the Commission to respond to emerging regional and global challenges,” she said.

Odumegwu-Ojukwu praised President Tinubu’s leadership in advancing regional integration and commended China for what she called a “remarkable gesture of goodwill,” adding that the project reflects “mutual respect, shared prosperity, and South-South cooperation.”

She also issued a strong call to member states:

“At a time when our region is confronted with complex challenges… our unity is not optional, it is imperative. We must continue to act in concert, speak with one voice.”

Across all speeches, a consistent message emerged: while the new headquarters represents a major infrastructural achievement, its true value will depend on the political unity and collective resolve of West African states.

As the ceremony concluded, leaders underscored that the building is not an end in itself, but a platform for the next phase of regional integration—one defined not by construction, but by cooperation.

China Hands Over Landmark ECOWAS Headquarters in Abuja, as Leaders Call for Stronger West African Unity

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NDLEA, Customs Forge Alliance to Tackle Drug Trafficking

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NDLEA, Customs Forge Alliance to Tackle Drug Trafficking

By: Michael Mike

The National Drug Law Enforcement Agency (NDLEA) and the Nigeria Customs Service (NCS) have formalized a strategic partnership aimed at strengthening border security and combating drug trafficking across Nigeria.

The agreement was reached during a high-level meeting at the NDLEA headquarters in Abuja on Monday, where a joint communiqué was signed by NDLEA Chairman, Buba Marwa, and the Comptroller-General of Customs, Bashir Adewale Adeniyi.

Both agencies acknowledged the growing sophistication of transnational organized crime, stressing that a coordinated institutional response is essential to effectively disrupt illicit drug networks.

Under the new framework, NDLEA and Customs will enhance intelligence sharing through a secure and structured platform designed to enable early detection and prevention of criminal activities. The collaboration will also see the deployment of joint task forces at key operational points, including seaports, airports, and land borders.

The agreement further seeks to eliminate operational overlaps and reduce inter-agency friction by clearly defining roles and respecting each agency’s legal mandate. A Standing Inter-Agency Committee will also be established to promptly address disputes and ensure smooth coordination.

Speaking on the development, both Marwa and Adeniyi emphasized that the partnership represents a critical step toward strengthening Nigeria’s security architecture while maintaining the efficiency of legitimate trade operations.

They reiterated their commitment to professionalism, mutual respect, and national interest, noting that aligning the capabilities of both agencies would create a more effective barrier against the trafficking of illicit substances.

The collaboration is expected to significantly boost enforcement efficiency at Nigeria’s entry and exit points, reinforcing ongoing efforts to curb drug-related crimes and safeguard public safety.

NDLEA, Customs Forge Alliance to Tackle Drug Trafficking

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