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The national council of state, a diverse body comprising former presidents, heads of government, chief justices of the federation, state governors, the secretary of the federal government, the attorney-general of the federation and the minister of the Federal Capital Territory, held its first meeting under President Bola Ahmed Tinubu on Tuesday, August 13.
It was fitting that Ribadu, the NSA, briefed the council first, the meeting coming just a few days after the end of peaceful and violent national protests in which some Nigerians called for regime change. In some cities in Northern Nigeria, protesters even displayed the Russian flag and caused some destruction of public and private properties.
Olawale Edun, the coordinating minister of the economy, briefed the council on the gains recorded in the last 14 months. Among these are exchange rate stability, a positive trade balance, and an increase in foreign direct investment and Portfolio Investment. According to recent figures from the National Bureau of Statistics, he said inflation has been slowing down. Oil production has increased, and revenues collected hit N9 trillion at the end of June, the year’s first half.
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