In a big step to boost the nation’s economy, President Bola Tinubu stated on Thursday that his administration intends to inject N2 trillion into various industries over the next six months.
This announcement was made at the inauguration of the Presidential Economic Coordination Council (PECC), which includes specialists from all areas of society and the economy.
During the inauguration event, President Tinubu presented the findings of his review of the rapid stabilisation and advancement plan.
Following the inauguration, Mr. Wale Edun, Minister of Finance and Coordinating Minister of the Economy, offered additional facts. He stated that the emergency funds would largely benefit the health, agriculture, and energy/power sectors, among others.
He said; “The President has just inaugurated the Presidential Economic Coordination Council and that is a body that is made up of the President’s Economic Management Team, the Legislature, represented by the leaders of the National Assembly; the Senate President and the Speaker of the House of Representatives, as well as very importantly, the sub-nationals, represented by the chairman of the Nigerian Governors Forum, and, of course, the elite of the private sector.
“They were presented with the outcomes of Mr President’s review of the accelerated stabilization and advancement plan and that was an emergency plan to cover the next six months, which Mr. President had directed that a combination of his own Economic Management Team and the sub nationals, the governor’s level, and the private sector put together for his consideration.
“The song of that very important exercise is that a N2 trillion package involving N350 billion funding for Health and Social Welfare; N500 billion funding for Agriculture and Food Security; N500 billion for the Energy and Power sector and general business support of about N650 billion.
“In addition to a range of policy measures and tax measures, there is a range of executive orders which Mr President has signed and which are being gazetted to ease the cost of doing business at this particular time.”
A Gentle Reminder: Every obstacle is a stepping stone, every morning; a chance to go again, and those little steps take you closer to your dream.
Nnamdi Okoli
