Nigeria Approves 90-Day Plan to Cut Living Costs

Nigeria's National Economic Council has approved a 90-day economic action plan designed to reduce the cost of living for citizens. The plan focuses on making food more affordable, attracting investment, and accelerating high-impact projects that provide direct benefits to Nigerians.

The endorsement followed a presentation by Finance Minister Taiwo Oyedele during the council's 161st meeting. The virtual session was held on Thursday, October 22, 2026, and was chaired by Vice President Kashim Shettima.

“Governments at all levels have a responsibility to translate reform objectives into improved living conditions for Nigerians.”

The action plan identifies five priority areas: food affordability, tax harmonisation, completion of high-impact projects, resolution of investment bottlenecks, and regulated household support. The council also approved a national dashboard to track ongoing projects across the federation.

Officials said the dashboard will improve transparency and accountability regarding the use of funds saved from fuel subsidy removal. Oyedele expressed optimism about progress under President Bola Tinubu's economic reform programme.

Key policy objectives include reducing headline inflation and interest rates to single digits by 2027. The finance minister stressed that the next phase of reforms requires coordinated implementation across federal and state institutions.

Vice President Shettima charged state governors and relevant government bodies to translate reform objectives into improved living conditions. The council emphasised that all levels of government share responsibility for delivering measurable benefits to households and businesses.