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NEC seeks accelerated transition from oil to non-oil economy
The National Economic Council (NEC) has called for accelerated transition from oil to non-oil economy through competitive manufacturing, export diversification, and private sector investment.
Vice-President Kashim Shettima, who is the Chairman of the council, made the call in his opening remarks, during the 156th NEC meeting and first in 2026, held virtually.
Shettima observed that while “global powers assert their interests with renewed confidence, commodity markets will remain volatile,” with oil prices, exchange rates, and capital flows frustrating the nation’s policies.
He noted that the current economic reality has reinforced the urgency of fiscal risk management and the need to reduce the nation’s economic and revenue exposure to oil.
According to him, the non-oil economy has emerged as the backbone of Nigeria’s growth story, accounting for about 96 per cent of the country’s GDP and is expanding at about 4 per cent.
“Services, agriculture, and other non-oil sectors are increasingly carrying the weight of the economy.
” More importantly, non-oil revenues now contribute nearly three-quarters of total government collections.
” This marks a significant, if gradual, departure from our historic dependence on volatile oil receipts.
” The task before us is to deepen this transition through competitive manufacturing, export diversification, and private sector investment,” he said.
Shettima acknowledged that while it was the first meeting of the council for the year 2026, the consequences of the choices made last year demand coherence, courage, and consistency in the new year.
“This moment in our journey calls for neither triumphalism nor despair. What it calls for is perspective.
“The Nigerian economy has travelled a difficult road over the past year, but it has not travelled it without progress,” VP said.
Shettima, who said that the nation’s economy witnessed significant growth in 2025, attributed the rapid growth to the visionary leadership of President Bola Tinubu.
“In 2025, our economy expanded by 3.9 per cent, the fastest rate of growth in over a decade.
“Quarter by quarter, this momentum was evident: growth strengthened from 3.13 per cent in the first quarter to 4.23 per cent in the second, before settling at 3.98 per cent in the third.
” This is the outcome of hard decisions taken in difficult circumstances, and this is not a surprise with a visionary like His Excellency, President Bola Tinubu, leading the charge.”
Shettima added that acceleration of economic growth must not be confused with adequacy.
He observed that “a growth rate of 3.9 per cent, while encouraging, is not sufficient to decisively reduce poverty, generate jobs at the scale our population demands, or lift per capita incomes in a way that ordinary Nigerians can feel.
“With population growth at about 2.6 per cent annually, this rate of expansion leaves us with little room to absorb inflationary pressures or external shocks. Our ambition, therefore, must be higher,” he added.
The News Agency of Nigeria (NAN) reports that after presentation on the economic priorities for 2026 by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, the council resolved to deepen engagement with stakeholders to boost non-oil revenues.
The council has also approved the constitution of a committee on the implementation of the President’s directive on the actualisation of the legacy projects.
The committee is chaired by the Governor of Cross River State, while one governor from each sub-region will serve as member of the committee as follows: North West (Sokoto), North East (Gombe), North Central (Niger), South East (Abia), and South West (Lagos).
The Permanent Secretary of the Ministry of Budget and Economic Planning, Deborah Odoh, would serve as Secretary, while the Ministers of Works and Transportation will also serve on the committee.
The presentation highlighted key reforms implemented by the Tinubu administration, including targeted programmes that have removed distortions in the system, stabilised the economy and put Nigeria on the path of sustained recovery and prosperity.
The presentation also reflected the country’s current global recognition, which is reinforcing investor confidence in the economy projected to grow at 4.68 per cent in 2026.
The key priorities according to the Minister, include maintaining Nigeria’s economic competitiveness through sound governance, improved availability and affordability of food.
This, according to him, will ensure human capital development with improved social protection and timely payment of debt service, salaries and pensions.
Similarly, in its resolution, NEC noted and commended the Federal Government’s plans to unlock rapid and sustained job-rich growth, high-quality jobs, and entrepreneurship opportunities.
The council also resolved to dedicate a special session to address salient issues raised in the country’s food security efforts, particularly issues on agricultural productivity.
The highlights of other deliberations and resolutions at the NEC meeting were the update on account balances as at Jan 14.
The Accountant-General of the Federation, Dr Shamseldeen Ogunjimi, gave update to council on the following accounts; Excess Crude Account $535,823.39, Stabilisation Account N64,652,693,552.36 and the Natural Resources Account N97,369,382,081.96.
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COAS Salutes Troops’ Sacrifice, Hosts Special Sallah Luncheon in Edo
he Chief of Army Staff (COAS), Lieutenant General Waidi Shaibu, on Saturday, March 21, 2026, hosted a special Sallah luncheon for troops of the Forward Operations Base (FOB) Sobe in Owan West Local Government Area of Edo State as part of activities marking the Eid-el-Fitr celebration.
Speaking at the event, the COAS reaffirmed the Nigerian Army’s commitment to improving troop welfare and boosting morale through strategic initiatives. He urged the soldiers to remain resolute in their duty to defend the nation’s peace, unity, and territorial integrity.
Represented by the Commander, 4 Brigade Nigerian Army, Brigadier General Ahmed Balogun, the Army Chief commended the troops for their resilience and professionalism despite operating under challenging conditions. He noted that their sacrifices and dedication embody the true spirit of the Nigerian soldier.
“They serve in difficult and often demanding environments, far from the comfort of their homes, yet remain steadfast in loyalty and professionalism.
Their endurance, sacrifice, and courage represent the true spirit of the Nigerian soldier,” he said, while praying for their safety and success in ongoing operations.
The COAS also lauded the continued collaboration between the Nigerian Army and other security and intelligence agencies, describing inter-agency synergy as critical to sustaining operational success and national stability.
He further expressed appreciation to President Bola Ahmed Tinubu, Commander-in-Chief of the Armed Forces, for his unwavering support and commitment to the welfare and operational effectiveness of the military, noting that the President’s leadership remains a strong source of motivation for the Armed Forces.
In his welcome address, the Commander, FOB Sobe, Lieutenant Colonel Stanley Agboro, described the COAS luncheon as a significant annual tradition held during major festive periods, including Eid-el-Fitr, Eid-el-Kabir, Easter, and Christmas.
He said the initiative is aimed at boosting troop morale, recognising their sacrifices, honouring fallen heroes, and strengthening camaraderie within the ranks.
Agboro appreciated the Brigade Commander and his entourage for visiting the base to celebrate with the troops. He also acknowledged the presence of the Vice Chairman of Owan West Local Government Area, Mr Dele Aleburu, who represented the council chairperson, Madam Joy Ohonyon, as well as the traditional ruler of Sobe, HRH Anthony Ero Aleburu I, and heads of other security agencies in the area.
The event featured a luncheon, cultural dance performances, comedy presentations, and morale-boosting songs by the troops.
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54 Garlands To A Performer: Happy Birthday To Governor Peter Mbah
Happy Birthday To An Achiever, History Shall Be kind To You For Your Noble Strides In Leadership.
In the theatre of leadership, where promises often fade into the background of political routine, a few performers step onto the stage with clarity, purpose, and measurable impact. One such figure is Peter Mbah, the Governor of Enugu State, whose journey continues to attract attention for its pace, precision, and ambition.
As he marks his 54th birthday today the 17th of March, it is fitting to string together not just words, but garlands—symbols of appreciation for a man whose governance style has leaned heavily toward results.
Governor Mbah’s leadership narrative is one defined by urgency.
From the outset, he signaled that governance would not be business as usual. His administration set bold targets, particularly in areas such as education, infrastructure, and economic expansion. Rather than dwell in rhetoric, his approach has emphasized timelines, deliverables, and accountability—traits more commonly associated with corporate leadership than traditional politics.
One of the most striking elements of his governance is his focus on education reform. By prioritizing smart schools and digital learning infrastructure, Mbah has demonstrated an understanding that the future of any society lies in how well it prepares its young minds. His policies reflect a belief that education must not only be accessible but also relevant in a rapidly evolving global landscape, little his signature refrain TOMORROW IS HERE resonates not only with Ndi’Enugu and the people of the South East but across the nation.
Infrastructure development under his watch has also taken center stage. Roads, transport systems, and urban renewal projects have been approached not just as physical upgrades, but as economic enablers. The philosophy is simple: when movement becomes easier, commerce thrives, and when commerce thrives, people prosper.
Beyond policy and projects, there is also the intangible quality of leadership presence. Governor Mbah has cultivated an image of a leader constantly in motion—inspecting, engaging, pushing. This has helped shape public perception of a government that is active and responsive, rather than distant and ceremonial.
At 54, the Governor stands at a point where experience meets momentum. There is enough behind him to assess his direction, and enough ahead to determine his legacy. The expectations are high, but so too is the energy he appears to bring to the role.
Birthdays often invite reflection, but they also offer an opportunity to look forward. For the people of Enugu State, this moment is not just about celebrating the man, but also about evaluating the journey so far and anticipating what lies ahead.
Fifty-four garlands, then, are not merely decorative—they represent milestones, challenges overcome, and ambitions still in pursuit. For a performer in the arena of governance, the applause is never final. It is earned, continuously, in the quiet execution of vision.
Happy Birthday, Governor Peter Mbah, indeed under your responsible and responsive watch over Enugu State TOMORROW IS HERE.
Okechukwu Nwafor
Concerned Professionals For Good Governance. (A Good Leadership Advocacy Group).
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Nigeria is a Country with Rule of Law Under Renewed Hope Agenda – Military Veterans Caution Nigerian Army Over Land Grabbing
Military and paramilitary veterans who participated in various operations, including ECOMOG, Operation Zaman Lafiya and Operation Pulo Shield, have raised concerns over what they describe as an alleged encroachment on land allocated to them in the Federal Capital Territory (FCT).
The veterans, who are beneficiaries of a welfare housing initiative coordinated through a Special Purpose Vehicle known as the Special Vehicle Plant (SVP) Trust Scheme, claim that construction activities have recently commenced on the land, which they say forms part of their approved housing project.
Speaking through their representatives, a retired Army officer Ayo Olufemi who chose not to mention his rank, the group urged relevant authorities to ensure that all issues relating to the land dispute are handled strictly in accordance with the law. They maintained that Nigeria remains a country governed by the rule of law under the Renewed Hope Agenda of President Bola Ahmed Tinubu.
According to the veterans, the land in dispute is identified as Plot 2303 in Asokoro Cadastral Zone A04, an area that shares boundaries with other military lands belonging to the Nigerian Army, Navy and Air Force.
The group explained that the plot was allocated for the development of a veterans’ welfare housing scheme under the SVP Trust arrangement. Under the framework, the SVP was responsible for site planning, subdivision of the land, allocation to individual beneficiaries, and coordination of Right of Occupancy documentation through the Federal Capital Territory Administration (FCTA).
They stated that beneficiaries opened individual land application files with the Federal Capital Development Authority (FCDA) and received official acknowledgements before land offer letters were issued in 2015.
The veterans further claimed that the project complied with regulatory requirements, including approvals from relevant departments within the FCDA, and that about ₦400 million was reportedly paid as part of statutory ground rent obligations requested by the FCTA.
However, the group alleged that officials linked to the Nigerian Army recently began construction activities on the plot, which they believe falls within the land allocated for the veterans’ housing scheme.
In a petition addressed to the Minister of the Federal Capital Territory, Nyesom Wike, the veterans called for government intervention to prevent what they described as an attempted takeover of the land pending clarification of ownership and boundary issues.
According to the petitioners, the Nigerian Army was previously allocated a neighbouring parcel identified as Plot 2302, measuring approximately 248 hectares, from a larger expanse of land originally designated for military formations and barracks development in the Asokoro area.
They stated that the area behind Mogadishu Cantonment had been earmarked primarily for barracks and accommodation for military personnel.
The veterans also said the allocation of Plot 2303 to their welfare scheme followed representations made to the then Head of State, General Sani Abacha, in recognition of the role played by Nigerian troops during the ECOMOG operations in Sierra Leone.
Beneficiaries of the scheme, they added, had fulfilled statutory obligations, including the payment of required ground rents and other administrative charges.
The group further alleged that attempts were made by individuals linked to Nigerian Army Properties Limited (NAPL) and other parties to merge Plot 2303 with the adjoining Plot 2302 belonging to the Army.
They also claimed that a Memorandum of Understanding was subsequently signed with developers for the construction of residential units described as “modern affordable homes,” with projected selling prices reportedly ranging between ₦81 million and ₦125 million.
According to the petitioners, construction work on the disputed area reportedly began on December 24, 2025.
The veterans stated that some infrastructure earlier developed on the land — including access roads and other facilities constructed in line with FCDA approvals — may have been affected by the ongoing activities.
They also raised broader concerns about the management of military land allocations in the Asokoro area.
According to the petition, Plot 2302 was originally designated for additional barracks development, including a proposed Phase 2 expansion of the facility now known as Tinubu Barracks Phase 1.
However, the veterans alleged that portions of the land were subsequently transferred or sold to institutions, developers and private individuals over time, contrary to the original land-use designation.
They further claimed that only a fraction of the approximately 248 hectares allocated to the Army has reportedly been developed for barracks infrastructure.
The petitioners also alleged that Nigerian Army Properties Limited has continued to transact on parts of the Army’s land allocation through arrangements involving developers and intermediaries.
The veterans argued that these developments may have contributed to boundary disputes involving neighbouring plots, including the land allocated for their housing project.
They therefore called on the FCT Minister to order an immediate review of activities on the disputed land and ensure that all actions comply with existing approvals and legal processes.
In addition, the group requested the establishment of an independent inquiry to examine allegations relating to the allocation and disposal of military land in the Asokoro area.
They also urged the Economic and Financial Crimes Commission (EFCC) to investigate claims concerning the alleged diversion or sale of portions of the Army’s land.
Efforts to obtain official responses from the Nigerian Army, Nigerian Army Properties Limited, and the Federal Capital Territory Administration were unsuccessful as of the time of filing this report.
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