President of the Dangote Industries Limited, Aliko Dangote, says Nigeria has all it needed to turn the economy around within months.
He stated this on Thursday while briefing State House reporters after President Bola Ahmed Tinubu inaugurated the Presidential Economic Coordination Council (PECC).
The council is made up of government officials, top private sector players, and consultants including President of the Dangote Industries Limited, Aliko Dangote; Chairman of the United Bank of Africa, Tony Elumelu; and Chief Executive Officer of the Financial Derivatives Company Limited, Bismarck Rewane.
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, said it would meet and report to the President monthly.
Tasked with strategising a way out of the current economic situation in the country, the body has a mix of government officials, top private sector players, and consultants including Dangote; Chairman of the United Bank of Africa, Tony Elumelu; and Chief Executive Officer of the Financial Derivatives Company Limited, Bismarck Rewane.
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, 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.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun said the Council would meet and report to the President monthly.
Dangote applauded the President’s initiative, saying it would better the economy of the country and the Nigerian populace.
He said members of the council from the private and public sectors would sit regularly to advise the government on the kind of policies that government should roll out.
“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.”
According to Edun, Tinubu presented the PECC with the outcomes of his accelerated, stability, stabilization 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 2 million barrels per day.
Edun also said the plan involves an N2 trillion package aimed at stabilising the economy and it includes:
* N350 billion for Health and Social Welfare
* N500 billion for Agriculture and Food Security
* N500 billion for the Energy and Power sector
* N650 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.
Elumelu commended the President for constituting the Council as he pledged the commitment of the private sector.
