Budget and Planning Minister Udo Udoma told journalists after their weekly meeting, that some parts of the plan would still be fine-tuned, while final consultations would be made with Labour.
The council also approved the National health Policy.
The aim of the plan is to drive economic recovery and lay the foundation for longer term growth as well as improve the competitiveness of the economy.
It is designed towards achieving an economy with Low inflation and a stable exchange rate by targeting such areas of infrastructural development as power, roads, rails and ports.
Budget and Planning Minister Udoma Udo Udoma explained that the Plan encapsulates the thinking of this administration and aspects of it are already being implemented.
Likewise a National Health Policy was approved this week by Council, the third of such in the history of the country, after earlier health policies were approved in 1988 and 2004.
Health Minister explains that the Policy is to promote healthy living for all Nigerians with special emphasis on reviving the primary health sector which 70 percent of Nigerian citizens use.
Professor Adewole is confident that states and local governments will buy into the policy and make it work because it is a document that has the input of all state commissioners of health.