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HomePoliticsSummary of Decisions Made at the Federal Executive Council Meeting Today

Summary of Decisions Made at the Federal Executive Council Meeting Today

Freshreporters News reports that President Tinubu led the first Federal Executive Council (FEC) meeting of the year, 2024 on Wednesday, January 17th.

Here are the key decisions made, according to Bayo Onanuga, Special Adviser to the President on Information and Strategy:

  • Life insurance:

Approval for a N9.25 billion group life insurance policy for federal workers, ministers, and security personnel.

  • Oyo road project:

Okay given for the Oyo state government to rebuild the Ojoo Interchange at Moniya-Akinyele, fully funded by the state.

  • Tax deal with UAE: Agreement approved to eliminate double taxation and prevent tax evasion/avoidance between Nigeria and the United Arab Emirates. The Attorney General will prepare a bill to address this issue and support local industries and foreign investment.
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Summary of Decisions Made at the Federal Executive Council Meeting Today
  • Investment protection:

Agreement approved for Nigeria and the UAE to provide reciprocal investment promotion and protection.

  • Pharmaceutical industry support:

Council discussed challenges faced by local drug manufacturers and plans to help. This includes an executive order to address immediate issues and discussions with the Manufacturers Association of Nigeria to find broader solutions. Measures aimed at making medication more affordable for Nigerians are also planned.

  • Regulatory agencies:
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13 previously defunded healthy regulatory agencies will be reinstated in the 2024 budget.

  • Curbing illegal activity:

The Defense Minister and the Minister of Solid Minerals will collaborate to strengthen enforcement and stop illegal mining, logging, etc.

  • Transnational education policy:
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Policy guidelines for transnational education in Nigeria were approved.

  • Healthcare recruitment:

The Federal Ministry of Health was empowered to approve the recruitment of urgently needed healthcare workers, aiming to streamline bureaucracy…[CONTINUE READING HERE]>>



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