President Muhammadu Buhari has inaugurated the National Economic Council (NEC), with a pledge to ensure accountability, transparency and integrity in the distribution of funds in the Federation Account.


The council comprises the governors of the 36 states Governors, the Minister of the Federal Capital Territory and permanent secretaries of the key ministries to the economy.


At the inauguration on Monday, Buhari directed that all revenues from the Nigerian National Petroleum Corporation, Nigerian Customs Service, Federal Inland Revenue Service, Nigerian Ports Authority, Central Bank of Nigeria, Nigerian Maritime Administration and Safety Agency and the Liquefied Natural Gas, among others, should be remitted into the Consolidated Revenue Fund.


The President reminded the council of challenges confronting the country, from insecurity to unemployment, corruption, power shortages and his commitment to surmount the challenges.


He made a reference to remittances to the Federation Account by government agencies and pledged to ensure accountability and transparency in the distribution of funds from the account.


The President also promised to abide by the Constitution.
Addressing the governors, Buhari urged them to explore efficient means of liquidating all unpaid salaries of staff, which have brought untold hardship to thousands of families.


He said states ought to cooperate closely on projects such as interstate and feeder roads, soil erosion, desertification and other developmental programmes.

Source:http://dailyindependentnig.com/2015/06/buhari-appoints-economic-council/

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