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Dangote, Elumelu, Rewane, others, make Tinubu’s economic team

Edun said President Tinubu presented the PECC with the outcomes of his accelerated, stability, stabilisation and advancement plan which is an emergency plan to cover the next...

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Dangote, Elumelu, Rewane, others, make Tinubu’s economic team

President Bola Tinubu on Thursday inaugurated the Presidential Economic Coordination Council (PECC) which is tasked with finding solutions to the current economic situation in the country.

The council has a mix of government officials, top private sector players, and consultants.

Among them are President of the Dangote Industries Limited, Mr Aliko Dangote; Chairman of the United Bank of Africa, Mr Tony Elumelu; and Chief Executive Officer of the Financial Derivatives Company Limited, Bismarck Rewane.

Briefing State House Correspondents after the Inauguration of the council, Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, said the council is to meet and report to the president monthly.

Edun said President Tinubu presented the PECC with the outcomes of his accelerated, stability, stabilisation and advancement plan which is an emergency plan to cover the next six months.

In addition, the council is to galvanise the current administration’s target of getting crude oil production up to two million barrels per day.

READ ALSO: Dangote Refinery Launch: Nigeria path to energy independence, economic growth

Edun also said the plan involves an N2trn package aimed at stabilising the economy and it includes:
N350bn for Health and Social Welfare;
N500bn for Agriculture and Food Security;
N500bn for the Energy and Power sector, lastly N650bn for general business support.

He further explained that the federal government is focusing attention on boosting agricultural production in the country to ensure food security.

Also speaking, billionaire business tycoon and Africa’s richest man, Aliko Dangote assured Nigerians that the PECC would come up with measures that will help the economy bounce back in the shortest possible time.

Also, Elumelu commended the president for constituting the council as he pledged the commitment of the private sector.

Other members of the 31-member council include Senate President Godswill Akpabio; the Speaker of the House of Representatives, Tajudeen Abbas; chairman of the Nigeria Governors Forum, AbdulRahman AbdulRazaq; 12 ministers, and the governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso.

Members from the organised private sector include Dangote; Elumelu; Alhaji Abdul Samad Rabiu; Ms. Amina Maina, Mr Segun Ajayi-Kadir and Dr Funke Opeke.

Others are Dr Doyin Salami; Mr. Patrick Okigbo; Mr Kola Adesina; Mr Segun Agbaje; Mr. Chidi Ajaere; Mr Abdulkadir Aliu; and Mr Rasheed Sarumi.

Proofreading, editing by Uji A. ILIYASU, Editor at Neptune Prime

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