Politics

NEC Applauds Buhari's Financial Reforms As Nigeria's Ranking Improved In The World Bank Ease Of Doing Business Index

Published

5 years ago

Oct 30, 2019.

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The National Economic Council has praised the leadership of President Muhammadu Buhari for his economic reforms that has resulted in the improved ranking of Nigeria in the World Bank Ease of Doing Business index.
The National Economic Council which comprised of the 36 governors, the minister of FCT and the CBN governor lauded the president’s economic policies at the NEC meeting on Wednesday in Abuja.
The meeting was presided over by the vice president Yemi Osinbajo.
It could be recalled that last week the World Bank had released an index of countries with Ease of Doing Business with Nigeria ranking 131 out of 190 countries.
The NEC commended the president’s Presidential Enabling Business Environment Council (PEBEC).
The Presidency disclosed this on Wednesday via a press statement released via its official twitter handle @NGRPresident.
The statement reads in part “The National Economic Council (NEC), comprising the 36 Govs, FCT Minister & CBN Gov, have commended President Buhari and VP Osinbajo, for driving Ease of Doing Business reforms, which has seen Nigeria move up fifteen (15) places in the World Bank Doing Business Ranking for 2020.
”The NEC, chaired by the Vice President, praised President @MBuhari for setting up the Presidential Enabling Business Environment Council (PEBEC), and commended the Vice President for vigorously driving the Ease of Doing Business reforms, noting that Nigeria being named among the Top-10 improved economies for the second time in three years is commendable.”
Meanwhile, the Minister for Finance, Budget and National Planning, Zainab Ahmed, presented financial update to the econimic council members.
She stated that the current balance in the Excess Crude Oil Account stood at $324,035,696.29, the Stabilization Fund Account balance stood at N28,560,710.55; and the Natural Resources Development Fund Account has a balance of N70,691,826,511.84.
The council also received briefing on NNPC’s efforts in addressing PMS (petrol) diversion, round tripping and smuggling across the country.