Breaking News: Federal Government Injects N2-Trillion For Economic-Revival, Says President Tinubu (Full-Details)

Breaking News: Federal Government Injects N2-Trillion For Economic-Revival, Says President Tinubu (Full-Details)

The Federal Government has injected N2 trillion into the economy to stimulate growth, as part of an accelerated stabilization and advancement plan unveiled by President Bola Ahmed Tinubu. The plan aims to revive the economy in the short term and was presented during the inauguration of the Presidential Economic Coordination Council (PECC) at the State House.

The 30-member committee, constituted on March 27, includes top government officials and private sector leaders. Minister of Finance and Coordinating Minister of the Economy, Wale Edun, stated that the emergency funding will target critical sectors such as health, agriculture, energy, and power.

The PECC’s emergency plan includes N350 billion for health and social welfare, N500 billion for agriculture and food security, N500 billion for energy and power, and N650 billion for general business support. President Tinubu emphasized the need for collaboration to enhance power supply and increase oil production to two million barrels per day.

Key components of the plan include:
– Deploying 20,000 healthcare workers to serve 10-12 million patients.
– Increasing on-grid electricity from 4.5 to six gigawatts.
– Providing essential medicines at lower costs for 80-90 million Nigerians.
– Supporting the construction of an additional 25,000 housing units.

The programme is expected to create 4.7 million direct and indirect jobs, improve access to finance, and boost economic growth. Prominent figures such as Aliko Dangote and Tony Elumelu pledged private sector support for the government’s efforts to create jobs and improve living standards.