Tinubu Enlists Dangote, Elumelu, Rewane to Lead Economic Advisory Council
President Bola Tinubu on Thursday inaugurated the Presidential Economic Coordination Council (PECC) tasked with strategizing a way out of the current economic situation in the country.
The Council comprises a mix of government officials, top private sector players, and consultants, including the President of Dangote Industries Limited, Mr. Aliko Dangote; Chairman of United Bank of Africa, Mr. Tony Elumelu; and Chief Executive Officer of Financial Derivatives Company Limited, Bismarck Rewane.
Briefing State House Correspondents after the inauguration, Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, said the Council is to meet and report to the President monthly.
According to Edun, President Tinubu presented the PECC with the outcomes of his accelerated, stability, stabilization, and advancement plan, an emergency plan to cover the next six months.
Additionally, the Council is tasked with galvanizing the current administration’s target of increasing crude oil production to two million barrels per day.
Mr. Edun also mentioned the plan involves an N2 trillion package aimed at stabilizing the economy, which includes:
- ₦350 billion for Health and Social Welfare
- ₦500 billion for Agriculture and Food Security
- ₦500 billion for the Energy and Power sector
- ₦650 billion 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.
Billionaire business tycoon and Africa’s richest man, Aliko Dangote, assured Nigerians that the PECC would devise measures to help the economy recover quickly. Tony Elumelu commended the President for constituting the Council and pledged the private sector’s commitment.
Other members of the 31-member Council include Senate President Godswill Akpabio; 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 Organized Private sector include Dangote; 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.
