National Economic Council (Nigeria)
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The National Economic Council (NEC) in Nigeria is a constitutional entity of the Federal Government of Nigeria tasked with evaluating the nation's economic state and devising strategies to promote equitable development and regional balance.[1][2] It was established under Section 153 of the 1999 Constitution and meets monthly at State House in Abuja, serving as a centralized hub to align macroeconomic planning, trade objectives, mitigation programs, and developmental policies.[3] The chairman of the NEC is the Vice President of Nigeria (currently Kashim Shettima).[4]
History
The establishment of the NEC is rooted in Section 153 of the 1999 Constitution of Nigeria, which outlines its creation alongside other critical federal executive bodies.[5] It was designed to replace prior ad-hoc or military-era economic planning commissions under the Supreme Military Council. [6]
Membership
The membership consists of:[5]
Functions
The council reviews national fiscal targets, manages emergency financial interventions for state governments, deliberates on agricultural transformations, and implements frameworks for revenue diversification.[5] In February 2026, the council convened its second NEC conference at the State House.[3]
Sub-Committees
The NEC regularly operates active temporary sub-committees which include:
- Technical Sub-Committee on Livestock Development
- Committee on Legacy Projects (Chaired by the Governor of Cross River State, Bassey Otu)