The National Economic Council (NEC) convened its last meeting of 2024 on Thursday at the State House in Abuja, with Vice President Kashim Shettima presiding over crucial discussions on state policing and economic planning for the upcoming fiscal year. The meeting, which commenced at 12:06 pm in the Council Chamber, brought together state governors, deputy governors, and key members of President Bola Tinubu’s economic team.
Among the pressing matters on the agenda is the ongoing deliberation regarding the establishment of state police forces across Nigeria. The issue gained particular significance following the November NEC meeting, where three states notably failed to submit their recommendations for the creation of state police units. This development has prompted heightened attention to the matter in today’s gathering, as the council seeks to achieve comprehensive participation from all states in this crucial security reform initiative.
The meeting’s economic focus centers on presentations from President Tinubu’s economic team, particularly concerning the proposed tax reform bill and various economic considerations for the 2025 fiscal year. This timing is especially relevant as numerous states have already taken proactive steps by submitting their budgetary proposals to their respective State Assemblies in preparation for 2025, demonstrating a commitment to early fiscal planning and economic coordination.
The choice of the Council Chamber as the meeting venue underscores the formal nature of these discussions and their significance to national policy-making. The presence of both governors and deputy governors, alongside economic experts, suggests a comprehensive approach to addressing both security and economic challenges facing the nation.
This final NEC meeting of the year serves as a crucial platform for coordinating federal and state-level economic policies, particularly as Nigeria navigates through various economic reforms initiated by the current administration. The discussions are expected to contribute significantly to shaping the implementation of economic policies across different tiers of government in the coming year.
The focus on state policing reflects the growing consensus on the need for security sector reforms in Nigeria. The previous meeting’s revelation about three states failing to submit their recommendations highlights the complexities involved in implementing such significant structural changes to Nigeria’s security architecture. Today’s meeting provides an opportunity to address any concerns or challenges that might have prevented these states from submitting their proposals and to work towards a more unified approach to security reforms.
The economic aspects of the meeting are particularly timely as Nigeria continues to implement various fiscal reforms. The presence of President Tinubu’s economic team suggests that detailed discussions will take place regarding the coordination of economic policies between federal and state levels, especially concerning tax reforms and fiscal planning for 2025.
The proactive approach by many states in submitting their budget proposals ahead of the new fiscal year indicates a growing awareness of the importance of early planning and coordination in economic matters. This preparedness could facilitate more effective implementation of national economic policies and better alignment between federal and state-level economic initiatives.
As the last NEC meeting of 2024, today’s gathering holds particular significance in setting the tone for economic and security policies in the coming year. The discussions and decisions made during this meeting are likely to influence the direction of both state and federal government policies well into 2025, particularly in areas of security reform and economic development.
The meeting exemplifies the collaborative nature of governance in Nigeria’s federal system, where both state and federal authorities must work together to address national challenges. The presence of key stakeholders from various levels of government underscores the importance of coordinated efforts in achieving national development goals.
As the meeting progresses, stakeholders across the nation will be watching closely for outcomes that could impact both the security architecture and economic landscape of Nigeria in the coming year. The deliberations and decisions made during this final NEC meeting of 2024 are expected to play a crucial role in shaping policy implementation and coordination between federal and state governments in the months ahead.
