The growth rate represents the second-highest quarterly rate recorded since 2016.
Meanwhile, the National Economic Council took some important decisions yesterday including:
1. Investing additional $250m in the Sovereign Wealth Fund (SWF), while also setting up a committee to consider how portions of pension funds can be further leveraged to the fund.
2. Council also asked governors representing geo-political zones on NDPHC board, joined by Kaduna Governor, to review ownership details of government’s shares in the power distribution companies, to clarify and confirm specifically which arm of governmenr – FG or States – hold such shares in the Discos as privatised.
The Council also decided to form a committee including some Governors, to collaborate with the Federal Ministry of Mines & Steel Development, on how issues and challenges regarding the roles of state governments, mining communities can be properly managed for an effective development of the sector.
Vice President Yemi Osinbajo SAN presided over yesterday’s NEC Meeting.