FEC unveils agenda for transformation, reforms
In a groundbreaking session led by President Bola Ahmed Tinubu, the Federal Executive Council (FEC) made pivotal decisions on Monday, 26th February, addressing crucial areas from infrastructure development to bureaucratic efficiency.
Lagos-Port Harcourt-Calabar Coastal Superhighway Greenlit
The FEC approved the construction of the Lagos-Port Harcourt-Calabar Coastal Superhighway, entrusted to Messrs Hitech Construction Africa. The initial phase, spanning 47 kilometers, will kick off in Lagos, promising improved connectivity and transportation networks.
Social Security for Vulnerable Households Initiated
Immediate initiation of social security payments targeting vulnerable households was given the nod. Eligibility requires possession of both the National Identification Number (NIN) and Bank Verification Number (BVN).
Extension of Social Security to Graduates from NCE and Beyond
In a move to broaden social security coverage, the FEC decided to extend benefits to graduates from the Nigerian Certificate in Education (NCE) level and above, providing crucial support to the nation’s educated workforce.
Urgent Establishment of Consumer Credit System
To boost economic activities, the FEC mandated the creation of a Consumer Credit system. A committee, led by the Chief of Staff and including the Budget Minister, Attorney-General, Coordinating Minister of the Economy and Finance, will spearhead the swift implementation of this financial initiative.
Overhaul of Federal Agencies to Cut Governance Costs
In a historic move, the FEC resolved to implement recommendations from the Steve Oronsaye panel, aimed at restructuring and rationalizing federal agencies, parastatals, and commissions. This strategic initiative is designed to enhance efficiency and curtail the burgeoning cost of governance.
The Oronsaye report, initially submitted in 2012, gained traction in the Jonathan administration. However, it faced delays and was revisited by the Buhari administration in 2022. Now, the Tinubu administration has committed to addressing governance cost concerns by acting on elements of the report.
A dedicated eight-man committee, with a 12-week deadline, has been established to ensure legislative amendments and administrative restructuring are efficiently executed. The committee includes prominent figures such as the Secretary to the Government of the Federation, Head of the Civil Service, Attorney General and Justice Minister, Budget and Planning Minister, DG Bureau of Public Service Reform, Special Adviser to the President on Policy Coordination, and Special Assistant to the President on National Assembly, with the Cabinet Affairs Office serving as the secretariat.
Key Recommendations for Implementation: A Transformational Reshaping
Numerous federal agencies are set to undergo mergers, subsuming, or outright scrapping to streamline functions and enhance effectiveness. Key recommendations include the subsumption of the National Salaries, Income and Wages Commission under the Revenue Mobilisation and Fiscal Commission, the merging of Infrastructure Concession and Regulatory Commission with the Bureau of Public Enterprise, and the fusion of NEMA and National Commission for Refugees into the National Emergency and Refugee Management Commission.
The FEC also approved the merging of NACA and NCDC, the return of NALDA to the Ministry of Agriculture and Food Security, and the merging of National Institute for Leather Science Technology and National Institute for Chemical Technology into one agency.
These transformative decisions reflect the administration’s commitment to revitalizing Nigeria’s infrastructure, social security, and bureaucratic efficiency, marking a significant step towards a more prosperous and streamlined future.
