President of Dangote Industries Limited, Mr. Aliko Dangote, has expressed confidence in Nigeria’s ability to significantly improve its economic situation within a few months.
Sqpeaking on Thursday after President Bola Tinubu inaugurated the Presidential Economic Coordination Council (PECC), Dangote emphasized the potential for rapid economic transformation.
The PECC, established to develop strategies to address Nigeria’s current economic challenges, comprises a mix of government officials, top private sector players, and consultants, including Dangote; Chairman of the United Bank of Africa, Mr. Tony Elumelu; and Chief Executive Officer of the Financial Derivatives Company Limited, Bismarck Rewane.
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, announced that the Council would meet and report to the President on a monthly basis.
Dangote praised President Tinubu’s initiative, highlighting the Council’s potential to positively impact the nation’s economy and improve the lives of its citizens.
“Most of these things, we have them, they are already been discussed over and over again, it is a matter of implementation,” said Dangote, who is Africa’s richest man.
“I think the choice of people that are on the PECC, they are good enough to be able to advise the government on how to implement the policies.”
He emphasized the crucial role of the private sector in driving economic growth and job creation.
“The private sector will do its bit, which is to invest heavily and create jobs. Government doesn’t create jobs; what they do is to give us the right policies. We have all these policies.”
Dangote expressed optimism about the country’s future, stating, “I keep saying our issues are not that bad, this economy can be turned around within a few months, and I think we are on that way. I thank the President for inaugurating this Council. We will start working immediately, and I can assure you that you will see a lot of changes coming. We have what it takes to turn around this economy. We are going to work hard to make Nigerians proud.”
Nigeria is currently grappling with inflation, a high cost of living, and other economic crises triggered by the government’s recent policies, including the removal of petrol subsidies and the unification of forex windows.
High-Level Engagements for Economic Solutions
The newly formed PECC aims to harness expertise from both the private and public sectors to develop and implement effective economic policies.
As part of this initiative, the Council will meet regularly to provide strategic advice to the government, focusing on practical implementation to drive economic recovery and growth.
This collaborative approach reflects a commitment to leveraging diverse perspectives and expertise to tackle Nigeria’s economic challenges head-on, with a focus on achieving tangible results in the near term.