BREAKING: President Tinubu Inaugurates Presidential Economic Coordination Council

President Bola Ahmed Tinubu has inaugurated the Presidential Economic Coordination Council.

In conjunction with this, the president has approved a ₦2 trillion package aimed at funding critical sectors of the economy.

The council will include the current economic management team, leaders from the legislature, representatives of the sub-national government led by the chairman of the Nigeria Governors Forum, and key figures from the private sector such as prominent industrialist Aliko Dangote, Heirs Holdings Chairman Tony Elumelu, and economist Bismark Rewane.

This economic coordination council is tasked with meeting and reporting to the president on a monthly basis.

Its primary mandate includes implementing a range of policy and tax measures to ease the cost of doing business and reduce interest rates for micro, small, and medium enterprises (MSMEs) and specific sectors.

The ultimate goal of these initiatives is to stabilize the economy and foster business growth.

Additionally, President Tinubu emphasized to the council that his administration is prioritizing the enhancement of food production and food security, aiming to make food affordable and sufficiently available.

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