President Bola Tinubu has established an economic advisory committee comprising representatives from the federal government, state governments, and the private sector in response to the economic challenges facing Nigeria. The decision was reached during discussions between the President and key stakeholders at the State House in Abuja on Sunday.
The committee includes prominent figures from the private sector, such as Tony Elumelu, Chairman of United Bank for Africa, and Aliko Dangote, Chairman of Dangote Group. Tinubu emphasized the committee’s goal to stabilize the economy and secure a prosperous future for Nigerians, particularly amidst rising inflation and the devaluation of the naira.
During the meeting, Tinubu and stakeholders addressed critical issues including food security, job creation, and exchange rate stability. Dangote highlighted the importance of the committee’s role in addressing these challenges and expressed optimism about Nigeria’s ability to overcome them.
Tony Elumelu emphasized the need for effective implementation of decisions made by the committee to drive economic growth, alleviate poverty, and create employment opportunities. Abdul Samad Rabiu, Chairman of BUA Group, underscored discussions regarding the volatility of the naira against the dollar and strategies to stabilize the exchange rate.
State governors also pledged their support for the federal government’s interventions to alleviate hardship, emphasizing the importance of prioritizing execution. Governor Dapo Abiodun of Ogun State highlighted state-level initiatives to provide relief to citizens while awaiting the implementation of fiscal and monetary policies.
Governor Charles Soludo of Anambra State emphasized the committee’s commitment to regular evaluation and recommendations to address economic challenges. Segun Ajayi-Kadir, Director-General of the Manufacturers Association of Nigeria, affirmed the private sector’s role in formulating actionable recommendations to support economic recovery efforts.
