President Bola Tinubu announced on Thursday that his administration plans to inject N2 trillion into the economy over the next six months. This significant economic boost was revealed during the inauguration of the Presidential Economic Coordination Council (PECC), which comprises experts and representatives from various sectors of society and the economy, including Bismarck Rewane of Financial Derivatives Company Limited.
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, provided further insights, stating that the PECC would meet and report to the President on a monthly basis. This regular reporting is intended to ensure continuous assessment and adjustment of the economic strategies being implemented. Edun also gave a detailed breakdown of the areas that will benefit from the emergency funding, highlighting Health, Agriculture, Energy/Power, and other critical sectors as primary recipients of the N2 trillion injection.
“Most of these things, we have them, there are already been discussed over and over again, it is a matter of implementation. I think the choice of people that are on the PECC, they are good enough to be able to advise government on how to implement the policies,” said Dangote, who is Africa’s richest man.”
“The private sector will do its own bit which is to invest heavily and create jobs. Government don’t really create jobs, what they do is to give us the right policies. We have all these policies.”
“I keep saying our issues are not that bad, this economy can be turned around within few months and I think we are on that way. I thank the President for inaugurating this Council.”
“We will start working immediately and I can assure you (that) you will see a lot of changes coming. We have what it takes to turn around this economy. We are going to work hard to make Nigerians proud.”
Nigeria is battling inflation, high cost of living, and other economic crisss sparked by the government’s twin policies of petrol subsidy removal and unification of forex windows.
