The Economic Management Team’s Emergency Taskforce (EET) has presented President Bola Ahmed Tinubu with a proposed emergency package, the Accelerated Stabilization and Actualization Plan, aimed at restoring economic stability in Nigeria.
The EET, established to formulate an immediate action plan for economic stability and growth, has identified five key sectors requiring urgent intervention: agriculture, energy, business support, health and social welfare, and macro-fiscal alignment.
The task force, led by Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, includes participants from federal and state governments, as well as advocacy groups like the Manufacturing Association of Nigeria (MAN) and the Nigeria Economic Summit Group (NESG).
In a statement released on Wednesday by Mohammed Manga, Director of Information and Public Relations in the Federal Ministry of Finance, the proposed emergency package was presented to President Tinubu at the Presidential Villa, State House, Abuja.
During the presentation, Mr Edun highlighted that the plan aims to alleviate the impact of price increases on families, farmers, and businesses, aligning with the Renewed Hope priorities.
”The EET’s Accelerated Stabilization and Actualization Plan also includes measures from the Presidential Committee on Fiscal Policy and Tax Reforms, designed to curb inflation, support employment, and boost non-oil exports,” Edun stated.
Mr. Edun expressed confidence that the plan would restore economic stability, promote growth, and improve the overall well-being of Nigerians.
”The emergency package reflects a comprehensive approach to addressing the country’s immediate economic challenges, demonstrating the government’s commitment to rapid and effective economic recovery,” he added.
Meanwhile, Edun has clarified that the Federal Government does not intend to illegally access pension funds, following concerns raised by former Vice President Atiku Abubakar and labour unions.
The clarification comes after Edun’s announcement regarding plans to unlock N20 trillion from pension funds and other sources to finance critical infrastructure projects.
In a statement, the minister reiterated the government’s commitment to adhering to the legal limits and regulations governing pension fund investments.
