**BREAKING NEWS: Federal Executive Council Announces Far-Reaching Decisions**
In a landmark session held today, Monday, February 26, the Federal Executive Council, under the leadership of President Bola Ahmed Tinubu, has made significant decisions impacting various sectors of the nation. Here are the key highlights:
1. **Approval for Lagos-Port Harcourt-Calabar Coastal Superhighway:** The FEC has given the green light for the construction of the Lagos-Port Harcourt-Calabar Coastal Superhighway to Messrs Hitech Construction Africa. The initial phase, spanning 47 km, will commence in Lagos.
2. **Commencement of Social Security Payments:** Immediate commencement of social security payments to vulnerable households, with beneficiaries required to have both NIN (National Identification Number) and BVN (Bank Verification Number).
3. **Extension of Social Security to Graduates:** Social security coverage will be extended to graduates from NCE (National Certificate in Education) and upwards.
4. **Establishment of Consumer Credit Scheme:** Urgent establishment of a consumer credit scheme, with the Chief of Staff leading a committee tasked with its realization. The committee includes the Budget Minister, Attorney-General, and Coordinating Minister of the Economy and Finance.
5. **Implementation of Oronsaye Panel Recommendations:** In a bid to enhance efficiency and reduce governance costs, the council has decided to implement recommendations from the Steve Oronsaye panel. This involves restructuring and rationalizing federal agencies, parastatals, and commissions with similar functions.
The Oronsaye report, submitted in 2012 and revisited by subsequent administrations, is now being acted upon by the Tinubu administration. An eight-man committee has been constituted to oversee the necessary legislative amendments and administrative restructuring within a 12-week timeframe.
**Key Recommendations for Implementation:**
– Subsuming the National Salaries, Income, and Wages Commission under the Revenue Mobilisation and Fiscal Commission.
– Merger of Infrastructure Concession and Regulatory Commission with the Bureau of Public Enterprise.
– Fusion of NEMA and the National Commission for Refugees into the National Emergency and Refugee Management Commission, among others.
This comprehensive overhaul aims to streamline operations, eliminate duplication, and optimize resources across various government bodies.
For further updates and insights, follow Bayo Onanuga (@aonanuga1956), Special Adviser Information and Strategy to President Bola Ahmed Tinubu. Stay tuned for more developments as Nigeria moves forward with these transformative reforms.