NEC Takes Decisive Measures Against Crude Oil Theft    - The Top Society

NEC Takes Decisive Measures Against Crude Oil Theft   


Vice President Kashim Shettima and Nigerian governors have established committees on crude oil theft and economic affairs during the 138th virtual meeting of the National Economic Council (NEC) held on Thursday.

Chaired by Kwara State Governor AbdulRahman AbdulRazak, the Economic Matters committee is entrusted with formulating a comprehensive roadmap to address critical economic issues. This includes tackling petroleum subsidy concerns, developing a framework for wage negotiations, managing exchange rates, ensuring fiscal consolidation sustainability, addressing liquidity management and inflation, fostering medium-term investment and growth, ensuring fiscal transparency and accountability, and declaring a state of emergency on food production for 2024.

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The committee’s members consist of governors representing different regions, with the Special Adviser to the President on NEC and Climate Change, Rukaiya El-Rufai, serving as its Secretary. Their collective mandate is to devise short-term, medium-term, and long-term strategies to navigate economic challenges.

The NEC also reconstituted the Crude Oil Theft and Management Committee, with Imo State Governor Hope Uzodimma at the helm.

This committee, dedicated to addressing the persistent issue of crude oil theft, comprises governors from various regions, key ministers, and high-ranking officials.

The secretariat will be based at the Ministry of Budget and Economic Planning, with the Special Adviser to the President on Economic Matters, Dr. Tope Fasua, playing a pivotal role.

The committee’s objectives include enhancing security measures to combat oil theft, coordinating with relevant agencies, and ensuring a robust framework for the sustainable management of Nigeria’s crucial oil resources.

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