• Sunday, December 03, 2023
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Roll out programmes to turn economy around- Tinubu to ministers

Tinubu to hammer on climate change, renewable energy at COP 28

…identifies 8 priority areas to deliver in 3yrs

…rules out borrowing

President Bola Tinubu on Monday charged his 45 ministers to immediately roll out policies and programmes to turn the nation’s ailing economy around.

Tinubu gave the charge at his first Federal Executive Meeting (FEC) with the ministers who were inaugurated last week.

Africa’s most populous nation has been grappling with rising inflation, high cost of living and transportation, unemployment, and insecurity, among other challenges, all of which have worsened in the wake of the recent removal of subsidy on petrol by the new government.

Read also: Nigerians call for effective monitoring of ministers

The FEC meeting agreed on eight key areas in which the ministers are to concentrate their efforts within the next three years. These include economic growth, health care, security, rule of law and fighting corruption.

The meeting considered the “roadmap for the economy” presented by Wale Edun, the minister of finance and coordinating minister for the economy.

Edun, who briefed State House journalists after the meeting, said the council agreed that the economy was not where it should be.

According to him, the FEC examined the eight priority areas and identified targets to deliver in the next three years. He said President Tinubu directed the ministers to design policies to rescue the economy.

Read also: IPAC raises concern over Tinubu’s choice to include Ex-Governors as ministers

Edun, who said that the Federal Government was creating a stable economic system, added that their focus was on how to attract more investments in the economy.

“There would not be a reliance on borrowing, because the revenue profile cannot sustain such borrowings.

He, however, expressed hope that with the removal of subsidy on petroleum products, the government will earn more revenue to sustain the development of infrastructure