Tinubu announces N2trn economic package to support health, energy, other sectors 

 

 

President Bola Ahmed Tinubu has presented a N2 trillion stabilization and advancement plan to the Presidential Economic Coordination Council (PECC).

 

The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, disclosed this to State House correspondents after the inauguration of the PECC at the Presidential Villa on Thursday.

 

PECC is made up of the President’s Economic Management Team, the leadership of the National Assembly; the sub-nationals, represented by the Chairman of the Nigerian Governors Forum, and the elite of the private sector; comprising of Alhaji Aliko Dangote, Mr. Tony Elumelu, Dr. Doyin Salami, Mr. Bismarck Rewane, among others.

 

That Council is expected to meet and report to the President monthly.

 

Edun said after inauguration the council was presented with the outcomes of the 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.”

 

The money is expected to assist in turning around the Critical sectors of the economy and boost job creation.

 

He said in addition to a range of policy measures and tax measures, there is a range of executive orders which Mr. President has signed and which are being gazetted to ease the cost of doing business at this particular time.