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VP Shettima to NEC: Burden of Nigerians on us
…As Council sets up committees on Economic Affairs, Crude Oil Theft, Management
Vice President Kashim Shettima has charged members of the National Economic Council (NEC) to shelve the idea of vacation in the yuletide and carry on with issues of governance to ease the burden of Nigerians hanging on their shoulders.
He charged the Council members to be alive to the demands of Nigerians noting that , “as the year draws to a close, none of us in this chamber should anticipate a vacation. I tend to think so because upon our shoulders rests the weight of responsibilities from which we cannot escape. We are returning to be judged by the promises we made to be here.”
According to a statement today by Stanley Nkwocha, Special Assistant to the President on Media and Communications, Office of the Vice President, Shettima stated this while speaking on Thursday during the 138th meeting of NEC which held virtually, the VP said his principal, President Ahmed Bola Tinubu, GCFR, has shown that the challenges inherited by his administration are surmountable, and has offered visionary leadership and presented a coherent development plan to assist in the country’s pursuit of order, abundance, and stability.
“Each of us owes their constituents the scorecard of their stewardship in these few months of translating ideas into tangible actions. That’s why we can’t afford to fail, and the new year must be, for us, a timeout to reflect on how we have fared so far and what we must do differently to keep the hope of the nation alive,” the Vice President stated.
Apparently keen about getting results of the government’s ongoing reforms in good time, the VP stressed the need for the citizens to feel the positive impact of fuel subsidy removal and forex unification, noting that high inflation and cost of living are global challenges that have affected the economies of all countries.
Shettima said they should be considered as enough “inspiration for us to come together and tackle ours through realistic interventions”.
Meanwhile, following deliberations on critical economic matters and assessments of potential short-term, medium and long-term strategies for addressing pressing economic issues, NEC set up the committees on Economic Affairs, as well as the committee on Crude Oil Theft And Management.
Both committees are to be headed by Kwara State Governor, Alh AbdulRahman AbdulRazak, and his Imo State counterpart, Senator Hope Uzodimma, respectively.
The Economic Matters committee to be chaired by Kwara State Governor, AbdulRazaq AbdulRahman, is saddled with the task of preparing a clear roadmap for dealing with petroleum subsidy, including a framework for defending wage negotiations, exchange rate management and fiscal consolidation sustainability, liquidity management and inflation, medium term investment and growth, fiscal transparency and accountability, as well as state of emergency on food production for 2024.
Members of the committee include the Gombe State Governor, representing North East; Governor of Lagos (South West); the Governor of Akwa Ibom (South-South); the Governor of Anambra (South East); the Governor of Niger (North Central), and Governor of Kaduna (North West).
Rukaiya El-Rufai, Special Adviser to the President on NEC and Climate Change is to serve as Secretary.
The second committee on Crude Oil Theft and Management, an existing NEC committee, has been reconstituted with Governor Hope Uzodimma of Imo State as the chairman.
Other members are the Governor of Ogun State representing South West; the Governor of Plateau State (North Central); the Governor of Rivers (South-South) Governor of Borno (North East); Governor of Jigawa State (North West); the Governor of Abia State (South East); Minister of Budget and Economic Planning; Minister of Finance and Coordinating Minister of the Economy; CBN Governor; GCEO of NNPCL, NDDC Chairman, and Service Chiefs.
The Secretariat will be domiciled at the Ministry of Budget and Economic Planning and the Special Adviser to the President on Economic Matters, Dr Tope Fasua will serve on the committee.
Council also received an update on account balances as at 31st October 2023. The Excess Crude Account as at 31st October, 2023 stood at $473,754.57, while the Stabilization Account was N32,063,186,474.96 during the same period. Development Of Natural Resources Account as at 31st October 2023 stood at N156,770,745,529.74.
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2027: ACF urges northerners to shun selfish politicians
As time ticks father towards the 2037:general election, Arewa Consultative Forum, ACF, have advised northerners to shun politicians who are desperately seeking power to advance their selfish interest, at the detriment of the welfare of the people.
Chairman of ACF, Mamman Mike Osuman stated this in his opening remarks at the 79th National Executive Officer Council, NEC, Meeting held on Wednesday at the Forum’s Secretariat, Kaduna.
He said evidence abounds that many current elected and appointed leaders remain disconnected from ACF’s aspirations and programmes.
However, the ACF acknowledged that some have been supportive and have assisted financially.
According to him; “Since our last meeting on 21 August 2025, our Region has continued to face grave difficulties natural disasters, tragic loss of lives, and the harsh vicissitudes of daily existence. Terrorism, armed banditry, insurgency, and kidnapping are on the rise, as witnessed in Kwara, Southern Kaduna, Katsina, Benue, and other locations.
The consequences have been devastating, with families and communities violently uprooted and displaced.”
The Chairman stated that these displacements have resulted in overcrowded camps and informal settlements with limited access to basic services, increasing the risks of malnutrition and mortality among survivors.
He added that, repeated attacks and the climate of fear have disrupted education, leading to school closures across affected areas. Rural economies have been severely strained, travel has become unsafe, and access to farming, schooling, and healthcare has been discouraged.
“Insecurity has deepened to such an extent that external military assistance has been required.”
Osuman reiterated that the existence of ACF as a socio-cultural organization must not be merely ceremonial or rhetorical.
“it must be principled, sincere sacrificial, and action-driven. It must engage constructively with governments at national and subnational levels in the pursuit of peace, stability, and the civil rehabilitation of its people.”
He explained that the grim situation has further heightens ACF’s concern and underscores the urgent need our State Chapters to be proactive.
“As our Region approaches a national election cycle, ACF must cooperate with relevant authorities to ensure peaceful and credible elections. We must educate and enlighten our people on their civic responsibilities and the necessity of abiding by the laws of our fatherland,” he stressed.
He announced the constitution of a 9-man Code of Conduct and Ethics Committee, headed by Professor Nuhu Mohammed Jamo, former Dean of the Faculty of Law Ahmadu Bello University, Zaria and former Special Adviser to the Senate President on Constitutional and Comparative Law and Legal Drafting.
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Breaking: Nigeria to hold presidential election February 20 next year
Nigeria will hold presidential election about one year from now, on February 20, 2027.
The Independent National Electoral Commission (INEC) announced this on Friday and said the National Assembly elections will also hold the same day.
INEC said governorship and State Houses of Assembly polls scheduled has been scheduled for March 6, 2027.
The INEC Chairman, Prof. Joash Amupitan, disclosed the election timetable at a news conference in Abuja today.
INEC had on February 4 indicated that it had completed work on the election timetable and schedule of activities despite the delay.
The commission noted that it had submitted its timetable to lawmakers but cautioned that some items in the schedule of activities could be affected depending on when the amended Electoral Act is eventually passed.
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Otedola hails Dangote refinery, says Dollar could exchange below N1,0000 in few months
Nigerian billionaire businessman, Femi Otedola has hailed Dangote refinery for its massive impact in the nation’s oil industry, saying due to huge foreign exchange saved as a result of the milestone achieved by the refinery, the naira could trade below ₦1,000 to the dollar before the end of the year.
Otedola made this known on his X platform, while congratulating President of Dangote Group, Aliko Dangote, on the refinery’s attainment of its full production capacity of 650,000 barrels per day.
According to him, the refinery’s capacity to supply up to 75 million litres of Premium Motor Spirit (PMS) daily marks a transformative moment for Nigeria and the African continent, significantly altering the country’s energy landscape.
He noted that with domestic refining now in full swing after decades of reliance on fuel imports, pressure on the foreign exchange market is expected to ease considerably.
“With domestic refining now firmly underway after decades of reliance on imports, pressure on the foreign exchange market should ease significantly. I am optimistic that the naira will strengthen meaningfully, and trading below ₦1,000/$1 before year-end is increasingly within reach,” Otedola stated.
He further revealed that Dangote has commenced an additional $12 billion expansion project aimed at increasing refining capacity to 1.4 million barrels per day.
The expansion will also include the production of 2.4 million tonnes of no polypropylene and 400,000 metric tonnes of Linear Alkyl Benzene for detergent manufacturing.
Otedola described the development as a milestone for Nigeria’s economic growth, congratulating Dangote on what he called a historic achievement for the country.
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