President Tinubu Announces ₦2 Trillion Support For Key Economic Sectors In Six Months

President Tinubu Announces ₦2 Trillion Support For Key Economic Sectors In Six Months....KINDLY READ THE FULL STORY HERE▶

President Bola Tinubu announced on Thursday a forthcoming injection of ₦2 trillion into critical sectors of the economy over the next six months, aimed at accelerating stabilization and advancement plans.

The President made this declaration during the inauguration of the Presidential Economic Coordination Council (PECC) at the State House in Abuja. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, confirmed this development while briefing journalists after the inauguration.

Accompanied by council members such as Abubakar Bagudu, Minister of Budget and Economic Planning; Aliko Dangote, President of Dangote Industries Limited; and Tony Elumelu, Founder of the Tony Elumelu Foundation and Chairman of the UBA Group, Edun outlined the sectors earmarked to benefit from this funding, including Health, Agriculture, Energy/Power, and other strategic areas.

Edun explained, “The President has inaugurated the Presidential Economic Coordination Council, comprising his Economic Management Team, legislative leaders from the National Assembly — the Senate President and the Speaker of the House of Representatives — and crucially, representatives from the sub-national level, including the Chairman of the Nigerian Governors Forum, alongside private sector elites.

“They were briefed on the outcomes of Mr. President’s review of an accelerated stabilization and advancement plan spanning the next six months. This emergency plan, formulated jointly by the President’s Economic Management Team, state governors, and the private sector, encompasses a ₦2 trillion package.”

He further detailed, “The allocation includes ₦350 billion for Health and Social Welfare, ₦500 billion for Agriculture and Food Security, ₦500 billion for the Energy and Power sector, and approximately ₦650 billion for general business support. Additionally, a series of policy measures, tax adjustments, and executive orders signed by Mr. President are being gazetted to facilitate business operations during this period.”