President Bola Tinubu has officially launched the Presidential Economic Coordination Council, aimed at tackling Nigeria’s economic challenges.
The Finance Minister, Wale Edum disclosed this to State House Correspondents after the inauguration at the State House in Abuja.
The newly inaugurated Presidential Economic Coordination Council, comprising prominent figures from the public and private sectors, is tasked with stabilizing and advancing Nigeria’s economy.
This initiative emphasised President Tinubu’s commitment to addressing critical economic issues facing the nation.
The Minister of Finance, Wale Edum, explained that one of the council’s key initiatives is a ₦2 trillion package targeting critical sectors, including healthcare, agriculture, energy, and business support.
This, according to him, the Allocations are dedicated to enhancing healthcare, improving agricultural output, bolstering the energy and power sectors, and supporting small and medium enterprises.
Mr Wale Edun said the council was set to focus on increasing crude oil production to 2 million barrels per day, which is expected to bring additional revenue and foreign exchange liquidity, while also creating jobs and stimulating economic activity.
According to him, President Tinubu has emphasized the importance of collaboration between the federal government and the private sector in achieving these goals.
The Minister maintained that the council’s efforts were expected to bring about significant positive changes to Nigeria’s economy with a strong focus on social protection and inclusivity, reflecting President Tinubu’s commitment to driving economic growth and ensuring the well-being of all Nigerians.
At the event, Mr. Tony Elumelu, a member of the Presidential Economic Coordination Council, expressed his gratitude for the opportunity to contribute to the nation’s economic turnaround. He highlighted the council’s aim to create a more prosperous country with increased job opportunities for all Nigerians.
Alhaji Aliko Dangote who is also a member of the council emphasized the importance of implementing previously discussed policies and expressed confidence in the committee’s ability to execute these plans.
Dangote pointed out that while the Government’s role is to create favourable policies, the private sector is responsible for major investments and job creation.
Bello Wakili
