The National Economic Council (NEC) meeting was presided over by Vice President Kashim Shettima on Thursday in Abuja.
Governors from the whole Federation are present at the conference, which is taking place in the Council Chamber of the Presidential Villa in Abuja.
The discussion is anticipated to cover some of the pressing economic issues facing the nation as a result of the elimination of the gasoline subsidy.
Security issues facing the entire nation, including recent attacks in some sections of the North, are also anticipated to be covered.
Journalists were asked to leave the meeting and are now awaiting a briefing on the results.
The Nigerian National Petroleum Company (NNPC) Limited stated roughly 24 hours prior to the NEC meeting that it had obtained a $3 billion Emergency Crude Repayment Loan from the African Export-Import Bank (AFREXIM) Bank.