President Bola Ahmed Tinubu chaired a significant Federal Executive Council (FEC) meeting on Monday, where far-reaching decisions were made to address various national concerns.
Here are the key highlights:
1. Approval for Lagos-Port Harcourt-Calabar Coastal Superhighway construction, beginning with a 47km phase in Lagos, awarded to Messrs Hitech Construction Africa.
2. Commencement of social security payments for vulnerable households, requiring National Identification Number (NIN) and Bank Verification Number (BVN).
3. Extension of social security payments to graduates from NCE and above.
4. Urgent establishment of Consumer Credit scheme, with a committee led by the Chief of Staff and including key ministers, to expedite implementation.
5. Implementation of recommendations from the Steve Oronsaye panel to rationalize federal agencies, parastatals, and commissions, aimed at reducing governance costs and enhancing efficiency in the Federal service.
Key recommendations for implementation include:
– Subsuming National Salaries, Income and Wages Commission under Revenue Mobilisation and Fiscal Commission.
– Merging Infrastructure Concession and Regulatory Commission with Bureau of Public Enterprise.
– Absorbing National Human Rights Commission by Public Complaints Commission.
– Scrapping Pension Transitional Arrangement Directorate (PTAD) and transferring functions to Federal Ministry of Finance.
– Merging NEMA and National Commission for Refugees into National Emergency and Refugee Management Commission, among others.
An eight-man committee, with a 12-week deadline, has been tasked to oversee legislative and administrative restructuring necessary for these reforms, with the Cabinet Affairs Office serving as the secretariat.
The decisions reflect Tinubu’s administration’s commitment to cost-effective governance and operational efficiency across various sectors.
