…Appoints Dangote, Elumelu, into the presidential coordination council
President Bola Tinubu on Thursday, said his administration will inject about N2 trillion into the economy within the next six months
The President stated this while inaugurating the Presidential Economic Coordination Council (PECC) which has Africa’s richest man, Aliko Dangote and Tony Elumelu and other notable private sector players as members, on Thursday in Abuja.
Wale Edun, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, while briefing State House Journalists after the event, said members of the Council are made up of the top talents and stakeholders available in the country
He also revealed that the President has signed Executive orders which are being gazetted to ease the cost of doing business in Nigeria.
” Today, they were presented with the outcome of the stabilisation emergency plan to cover the next six months, a N2 trillion naira package.”
A breakdown of the N2 trillion package shows that the government is investing about N350 billion into Health and Social Welfare; N500b into Agriculture and Food Security; N500 billion for the Energy and Power sector and general business support of about N650 billion.
Edun stated that President Tinubu will focus on food security, even as he has asked the Nutrition Council to go to work and provide for Nigerians food at an affordable price.
Edun was joined at the briefing by Aliko Dangote, Africa’s richest man and Chairman of Dangote Group, Tony Elumelu, Chairman of Heirs Holding, and Atiku Bagudu, The Minister of Budget and Economic Planning.
The Council which consists of an array of major private sector players, also include Doyin Salami, Bismarck Rewani, as well as some of the younger businessmen playing in the major league of the stock exchange, quoted businesses and financial organizations.
“This is in addition to a range of policy measures, tax measures, and executive orders which Mr. President has signed and which are being gazetted to ease the cost of doing business at this particular time.
He disclosed that the government is working on reducing the interest rate, currently hovering around 30%, for certain sectors in the economy, including the small and medium scale in particular.
