Members of the National Economic Council (NEC) on Thursday in Abuja commended the leadership style of the Acting President, Prof. Yemi Osinbajo.
NEC, an official economic platform for dialogue among the 36 state governors, the governor of Central Bank of Nigeria (CBN), and other co-opted members, is chaired by the Vice-President.
Addressing State House correspondents on the outcome of the NEC meeting, which was presided over by Acting President Yemi Osinbajo, Gov. Rochas Okorocha of Imo said members of the Council were impressed by the way and manner Osinbajo was handling the affairs of the country.
“But the highlight of the whole discussion today was a special commendation the Council made on the Acting President of the Federal Republic of Nigeria who we have all resolved to call a `System Stabiliser.
“For the mere fact that Mr President (Muhammmadu Buhari) is on medical vacation, the system is still as smooth as it has always been. So, we commended the acting president for a job well done.’’
Okorocha, who disclosed that the Council discussed monetary issues concerning Nigeria’s economy, said the nation’s Excess Crude Account stood at $2.3 billion as at May 24.
He said the Council also reviewed the discrepancies in the figures and directed the Accountant-General of the Federation, Alhaji Ahmed Idris to reconcile the discrepancies.
“We were made to understand from the office of the Accountant-General that the excess crude account as at May 24 stands at $2.3 billion,
“Council also reviewed the discrepancies in figures and we have said that the Accountant-General will look at it and at the next meeting he will brief the council appropriately,” Okorocha said.
On the budget support facility for state governments which would be terminated by the end of May, the governor said the Council expressed concern that this may affect the economies of the states negatively.
He said the Council resolved that the budgetary support be extended to enable state governments to meet some of their financial challenges.
“As regards the loan support called the budget support facility for states which is suppose to come to an end by the end of this month, council was concerned about the fact that we are gradually coming out of recession.”
According to him, if this budgetary support ceases at the end of May, it may create some lapses in our bid to stabilise the economy.
“So council resolved that the budgetary support be extended to enable states catch up with the economic challenges of the moment,” he added.
He stated that the council noted with delight that the Forcados terminal would soon commence crude oil production and this would subsequently help to stabilise the economy.