Abuja, July 4, 2024 – President Bola Tinubu has inaugurated a Presidential Economic Coordination Council (PECC).
The members were drawn from different sectors of the economy.
Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, announced the constitution of the council to journalists on Thursday.
“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,” he said.
President Tinubu will be its chairman, while Vice President Kashim Shetimma will be the Vice-Chairman. (GBN)
