• Inaugurates Presidential Council to Drive Economic Reforms
• Roll Out Programme to Ensure Food Security, Improved Power Supply, and Enhanced Social Welfare"
Tayo Busayo, Abuja
DAILY COURIER - Nigeria, Africa's largest economy, has been grappling with a dire economic situation, characterized by low oil production, inadequate power supply, and a struggling manufacturing sector. The country's economic growth has been sluggish, and the population has been facing hardships due to high inflation, unemployment, and poverty.
However, in a bid to arrest the economic decline, President Bola Tinubu has inaugurated the Presidential Economic Coordination Council (PECC) and launched the Economic Stabilization Programme. The programme aims to ensure food security, improved power supply, enhanced social welfare, and overall economic transformation.
The Council, comprising 31 members, including the Vice-President, Senate President, Speaker of the House of Representatives, and representatives from the private sector, will drive economic reforms and ensure the implementation of the Economic Stabilization Programme.
The programme includes measures to increase on-grid electricity, oil production, and access to finance for MSMEs, manufacturers, and the housing sector. It also aims to enhance job creation, foster economic security, and provide essential medicines at lower costs for 80-90 million Nigerians.
The President emphasized the need for innovative solutions and public-private partnerships to drive economic reforms. The Vice-President, Kashim Shettima, assured that the President is committed to proffering solutions and not apportioning blame.
The Economic Stabilization Programme is a comprehensive plan to address the nation's economic challenges, and its successful implementation is expected to have a positive impact on the lives of Nigerians.
In recent years, Nigeria's economy has been facing numerous challenges, including a decline in oil production, inadequate power supply, and a struggling manufacturing sector. The country's economic growth has been sluggish, and the population has been facing hardships due to high inflation, unemployment, and poverty.
The inauguration of the Presidential Economic Coordination Council and the launch of the Economic Stabilization Programme are seen as a bold step by the federal government to address the economic challenges facing the nation.
The Council's membership includes representatives from the public and private sectors, indicating the government's commitment to collaborating with stakeholders to drive economic reforms.
The Economic Stabilization Programme's measures to increase oil production, improve power supply, and enhance access to finance for MSMEs and manufacturers are expected to have a positive impact on the economy.
The programme's focus on food security, health, and social welfare is also expected to improve the living standards of Nigerians.
Overall, the Presidential Economic Coordination Council and the Economic Stabilization Programme are seen as a positive development in the country's efforts to address its economic challenges.
The successful implementation of the programme is expected to have a positive impact on the lives of Nigerians and restore the country's economic growth.
The Vice President is the deputy chairman while members of the Council include the Senate President, the Speaker of the House of Representatives, Chairman of the Nigeria Governors Forum, twelve ministers, and the Governor of the Central Bank of Nigeria.
Members from the Organized Private sector include: Alhaji Aliko Dangote; Mr. Tony Elumelu; Alhaji Abdul Samad Rabiu; Ms. Amina Maina, Mr. Segun Ajayi-Kadir; Dr. Funke Opeke; Dr. Doyin Salami; Mr. Patrick Okigbo; Mr. Kola Adesina; Mr. Segun Agbaje; Mr. Chidi Ajaere; Mr. Abdulkadir Aliu; and Mr. Rasheed Sarumi.
