Tinubu Inaugurates Presidential Economic Coordination Council, Unveils Comprehensive Economic Stabilization Measures

Segun Atanda/

President Bola Tinubu inaugurated the Presidential Economic Coordination Council (PECC) today and launched the Economic Stabilization Programme aimed at transforming Nigeria’s economy.

During the 31-member Council’s inaugural meeting at the Council Chambers in Abuja, Tinubu highlighted the necessity for innovative solutions and public-private partnerships to address the nation’s economic challenges.

The President outlined key initiatives under the Economic Stabilization Programme, including increasing on-grid electricity from 4.5GW to 6GW in six months, boosting oil production to 2 million barrels per day within the next year, and removing barriers to investment in the energy sector.

Additionally, the programme aims to increase staple crop production, enhance healthcare access, and provide substantial support for MSMEs and youth-owned enterprises through various fiscal measures.

Vice-President Kashim Shettima, who serves as the Vice-Chairman of the Council, emphasized the administration’s commitment to finding solutions rather than assigning blame. The meeting also featured a presentation by Coordinating Minister of the Economy and Finance Minister, Wale Edun, on the Accelerated Stabilization and Advancement Plan.

The PECC includes notable figures from both the public and private sectors, including the Senate President, the Speaker of the House of Representatives, and leading business figures such as Alhaji Aliko Dangote and Mr. Tony Elumelu.