In a bid to further strengthen the economy, President Bola Tinubu has inaugurated his Presidential Economic Coordination Council (PECC), drawn from different sectors of society and the economy.
After inaugurating the council, President Tinubu presented the outcomes of his review of the accelerated stabilization and advancement plan, which seeks to inject a total of N2 trillion into the economy in the next six months.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who led selected members of the council to brief journalists after the briefing, gave a breakdown of the areas to benefit from the emergency funding including Health, Agriculture, Energy/Power and other areas.
“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.
Others include Ministers of Communications, Innovation and Digital Economy; Industry, Trade and Investment; Labour and Employment; Marine and Blue Economy; Power; State, Petroleum Resources; State, Gas; Ministers of Transportation and Works.
The PECC, which also comprises 13 key members of the organized private sector, joining for a period not exceeding one year, subject to the President’s directive include Alhaji Aliko Dangote, Mr. Tony Elumelu, Alhaji Abdulsamad Rabiu, Ms. Amina Maina, Mr Begun Ajayi-Kadir, Mrs Funke Okpeke and Dr. Doyin Salami.
Other PECC members from the private sector are Mr Patrick Okigbo, Mr. Kola Adesina, Mr. Segun Agbaje, Mr. Chidi Ajaere, Mr. Abdulkadir Aliu and Mr. Rasheed Sarumi.