President Bola Tinubu has inaugurated the Presidential Economic Coordination Council (PECC), a team tasked with developing strategies to address the current economic challenges facing the country.
The council, comprising government officials, private sector leaders, and consultants, includes notable figures such as Aliko Dangote, Tony Elumelu, and Bismarck Rewane.
Minister of Finance Wale Edun briefed reporters after the inauguration, stating that the council will meet monthly and report directly to the President. Tinubu presented the council with a six-month emergency plan, aiming to stabilize the economy and boost crude oil production to two million barrels per day.
The plan includes a N2 trillion package allocated to various sectors:
- Health and Social Welfare: N350 billion
- Agriculture and Food Security: N500 billion
- Energy and Power: N500 billion
- General Business Support: N650 billion
Dangote assured Nigerians that the council will work to revive the economy swiftly, while Elumelu commended the President for constituting the council and pledged the private sector’s commitment.
The council’s efforts aim to stimulate economic growth, ensure food security, and enhance the overall well-being of Nigerians.
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