President Bola Ahmed Tinubu has planned to inject over N2trillion to reflate the economy within the shortest possible time.
He disclosed this at the inauguration of a Presidential Economic Coordination Council, (PECC) through which the Federal Government at the Presidential Villa Abuja on Thursday.
Prominent personalities in the public and private sectors formed part of the Council.
The President Tinubu in the process reeled out the findings in the review of the accelerated stabilization and advancement plan.
He, therefore, gave the directive of sectors where bulk of the funds should be channelled for optimum results.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, revealed the breakdown of the areas to benefit the emergency funding to include Health, Agriculture, Energy/Power and other areas.
Edun said: “The President has just inaugurated the Presidential economic Coordination Council and that is a body that is made up of the President’s Economic Management Team, the Legislature, represented by the leaders of the National Assembly; the Senate President and the Speaker of the House of Representatives, as well as very importantly, the sub-nationals, represented by the chairman of the Nigerian Governors Forum, and, of course, the elite of the private sector.
“They were presented with the outcomes of Mr. President’s review of the accelerated stabilization and advancement plan and that was an emergency plan to cover the next six months, which Mr. President had directed that a combination of his own Economic Management Team and the sub nationals, the governor’s level, and the private sector put together for his consideration.
“The sum of that very important exercise is that a N2 trillion package involving N350 billion funding for Health and Social Welfare; N500 billion funding for Agriculture and Food Security; N500 billion for the Energy and Power sector and general business support of about N650 billion.”