President Bola Tinubu said there will be no excuse for failure on the part of his administration.
The President stated this at the National Economic Council, NEC meeting in Abuja on Thursday.
The NEC is headed by Vice President, Kashim Shettima.
The inauguration comes a week after he directed NEC to come up with interventions to mitigate the effects of the petroleum subsidy.
He charged the council to support his administration in transforming the economic Fortunes of the country.
President Tinubu said the task of growing the nation’s economy is quite enormous adding that no excuse for failure.
He restated his administration’s commitment to delivering on its promises to Nigerians.
Meanwhile, the council is currently holding its maiden meeting of the new administration under Shettima.
The NEC meets monthly and has the mandate to “advise the President concerning the economic affairs of the federation, and in particular on measures necessary for the coordination of the economic planning efforts or economic programmes of the various Governments of the Federation.”
Membership of the NEC comprises of the 36 State Governors, the Governor of the Central Bank of Nigeria, CBN, the Minister of Finance and other co-opted Government officials.
Those in attendance as at the time the meeting commenced are Kwara governor, Abdulrahman Abdulrazaq, Osun, Ademola Adeleke, Kogi, Yahaya Bello, Ekiti, Biodun Oyebanji, Nasarawa, Abdullahi Sule, Akwa Ibom, Umo Eno, Enugu, Peter Mbah Cross River, Bassey Otu, Plateau, Caleb Muftwang, Kebbi, Nasir Idris, Katsina, Aliyu Radda and Benue Hyacinth Alia.
Others are Zamfara, Dauda Lawal, Ogun, Dapo Abiodun, Anambra Charles Soludo, Yobe, Mai Mala Buni, Taraba, Agbu Kefas, Gombe, Delta, Sheriff Oborevwori, Rivers, Siminalayi Fubara, Niger Mohammed Bago and Sokoto, Ahmad Aliyu.
Also at the meeting are Ebonyi, Francis Nwifuru, Kaduna, Uba Sani, Edo, Godwin Obaseki, Abia, Alex Otti, Bayelsa, Douye Diri, Kano, Abba Yusuf, Bauchi, Bala Mohammed, Oyo, Seyi Makinde and Borno State Deputy Governor, Umar Kadafur and Deputy Governor of Ondo, Lucky Ayedatiwa
The Secretary to the Government of the Federation, SGF, Senator George Akume, Chief of Staff, Femi Gbajabiamila, the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, Acting Accountant General of the Federation, Oluwatoyin Madein, Acting Governor of Central Bank, Folashodun Shonubi, Permanent Secretaries Budget and National Planning, Federal Capital Territory Administration, and State House are also participating.