President Bola Ahmed Tinubu has inaugurated a 31-member Presidential Economic Coordination Council.
This happened at the Aso Rock Villa, Abuja, on Thursday.
He stated that the Federal Government has presented its review of the accelerated stabilization and advancement plan, aiming to inject ₦2 trillion into the economy over the next six months.
President Bola Tinubu emphasized his administration’s commitment to increasing crude oil production to two million barrels per day and boosting electricity generation in the coming months. He described Nigeria’s current power generation and crude oil production as “shameful.”
The committee comprises himself, Vice President Kashima Shettima, Senate President Godswill Akpabio, the Chairman of the Nigerian Governors Forum, Governor Abdulrahman Abdulrazaq of Kwara State and the Governor of the Central Bank of Nigeria Governor, Yemi Cardoso.
The PECC also comprises 13 persons drawn from the organised private sector, including the Chairman of Dangote Group, Aliko Dangote; UBA Chairman, Mr. Tony Elumelu; BUA Founder, Abdulsamad Rabiu, among others, who would serve on the Council for one year.
Tinubu called on the private sector players to be ready to play a great role.
“As a nation, it is so shameful that we have about 4.5 gigawatts. We must increase our oil production too to 2 million barrels per day within the next few months. Remove all barriers hindering investments into the sector to enhance competitiveness. We’ve had a challenge thrown at us and all of us will have to be careful,” he said.
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