The federal government, sub-nationals, and the private sector have formed an economic advisory council under President Bola Tinubu’s direction.
This was the outcome of discussions held on Sunday evening at the State House in Abuja between the President and important stakeholders.
The occurrence occurred as the cost of living problem continued to deepen due to the declining value of the naira, rising inflation, and other economic headwinds.
Several notable figures from the private sector were included in the list, including Mr. Tony Elumelu, the Chairman of United Bank for Africa, and Aliko Dangote, the Chairman of Dangote Group.
In his remarks during the meeting, Tinubu, the federal government’s spokesperson, stated that the objective “is to provide additional efforts” in order to stabilize the economy and guarantee Nigerians the “best economic future.”
“Let’s examine our current practices and identify areas for improvement in order to revitalize the economy,” he stated. The people of this country are the only people we have to please, as I have stated numerous times.
“And we are very much concerned from students to mothers and fathers, farmers, the traders and realising that everyone of us will have to fetch water from the same well. We’re looking for additional efforts that’s might help the downtrodden Nigerians and we will provide hope and reassurance that economic recovery is on its way.
“We are not saying that we have all the answers. But we will not be blamed for not trying. We assure Nigerians that we will do our best to get our marshall plan in place and fashion out the best economic future for this country.”
Tinubu talked about the currency rate, job creation, and food security at the meeting.
Dangote, a member of the committee’s business sector delegation, stated that Sunday’s gathering gave participants a chance to define their precise responsibilities within President Tinubu’s Renewed Hope Agenda.
“The economic presidential advisory committee which has been set up…will look at all the issues and address them, coming from job creation and food security.
“So, all these things have been discussed in detail. I can’t give you all the details right now, but we are hopeful and we’re a great nation. We have what it takes to turn around the economy and we’re going to do that.”
Implementing the recommendations reached at the conference, Elumelu said, “will have propel our economy and help alleviate the poverty in the land, help create employment and help put food on the table of Nigerians.”
The BUA Group Chairman, Abdul Samad Rabiu, disclosed that the committee had candid and thorough conversations regarding the foreign currency rate with the President.
States, meantime, have stated that they are willing to collaborate with the federal government on welfare initiatives aimed at easing the suffering of Nigerians. They claimed that only when implementation is given priority would the advisory committee’s judgment be implemented.