Nigeria’s top economic council has approved a 90-day action plan aimed at easing the cost of living, a sign the Tinubu administration is trying to turn broad reform pledges into faster relief for households still squeezed by inflation and expensive transport and food.
Nigeria approves 90-day cost-of-living plan
The National Economic Council endorsed the plan on Thursday after a presentation by Finance Minister Taiwo Oyedele, with priorities centered on food affordability, tax harmonisation, completion of high-impact projects, unlocking investment bottlenecks and targeted household support. For investors, the move matters because it signals the government is under pressure to show that subsidy removal and other reforms are filtering through to real economic gains rather than staying at the macro level.
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Vice-President Kashim Shettima said the federal government and state governors must now convert reforms into lower transport costs, better healthcare and more jobs, underscoring that political support for the reform drive will depend on whether Nigerians see improvement in daily life. The council also approved a national dashboard to track projects across the country, with a focus on transparency and on how subsidy-removal proceeds are spent.
Oyedele said the next phase of reforms would require tighter coordination between federal and state institutions, and set out a longer-term policy goal of bringing headline inflation and interest rates to single digits by 2027. That target is ambitious in a country where living costs remain elevated, and it frames the government’s economic strategy as one that needs faster execution, not just better messaging.
The plan also puts transport at the center of the relief effort. NEC directed authorities to work with transport unions and operators so savings from compressed natural gas and electric vehicle adoption are passed on to commuters through lower fares, a nod to the political sensitivity of mobility costs in Africa’s most populous country.
The broader message is that Abuja is trying to protect the reform agenda from public backlash by pairing market-friendly policies with visible social relief. How quickly the measures translate into cheaper food, lower fares and more predictable public spending will shape investor confidence in Nigeria’s reform story in the months ahead.
| Entity | Gains | Losses |
|---|---|---|
| Nigerian households | ▲Potential relief on food and transport | ▼Continued exposure to high prices if rollout stalls |
| Tinubu administration | ▲Reform credibility if relief is visible | ▼Political pressure if living costs stay elevated |
| State governments | ▲More coordination on projects and spending | ▼Greater accountability and implementation burden |
| Transport operators / commuters | ▲Possible CNG cost savings for riders | ▼Fare pressure on operators if savings are passed through |
