President Bola Tinubu has set up an economic advisory committee constituting members of the private sector players such as Aliko Dangote, Femi Otedola, Tony Elumelu, Innocent Chukwuma (Innoson), Abdul Samad Rabiu (BUA), among others.
The tripartite committee comprises of 17 members from the Federal government, sub-nationals and private sector.
President Tinubu declared during the inauguration in Abuja with governors and business figures on Sunday that all potential strategies would be examined to address the socio-economic difficulties facing the nation.
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What the President is Saying
According to the President, the federal government is ready to collaborate closely with all stakeholders to identify enduring solutions to the country’s current situation.
- ”Let’s look at what we’re doing right and what we’re doing wrong to bring life back to the economy. Like I said, many times, the people of this country are only the people who we have to please.
- ”We are very much concerned from students to mothers and fathers, farmers, the traders and realising that everyone of us will have to fetch water from the same well.
- ”We’re looking for additional efforts that might help the downtrodden Nigerians and we will provide that hope and reassurance that economic recovery is on its way.
- ”We are not saying that we have all the answers. But we will not be blamed for not trying.
- ”We assure Nigerians that we will do our best to get our marshal plans in place and fashion out the best economic future for this country,” he said.
More Insights
Also speaking at the meeting was the governor of Anambra State, Charles Soludo who said that the meeting allowed for cross fertilisation of ideas on the state of the economy and the way forward, adding that every Nigerian need to contribute to its growth.
- ”We have all the potentials and we have all that it takes to make Nigeria ride through these turbulent times and put the economy back on a sustainable growth.
- ”I think there is unity of purpose, determination, the sense of patriotism and determination by all to make it happen and by the special grace of God, it’s now the execution, execution,” he said.
On his part, the governor of Ogun State, Dapo Abiodun, said that all governors have resolved to join hands with the President to provide the necessary intervention to cushion the effect of the administration’s reforms.
Abiodun assured Nigerians that government at all tiers would not leave them alone in this trying period, adding that better times are in the offering shortly.
- ”In my state and in other states, we are bringing in rice, we’re bringing food items and we’re selling at rates that can be obtained before the downslide of the Naira,” he added.
- Also in attendance were Wale Edun, Minister of Finance and Coordinating Minister of the Economy; Atiku Bagudu, Budget and National Planning minister, Abubakar Kyari, Agriculture and Food Security minister and Mohammed Idris, Information and National Orientation.
- Some of the private sector players at the meeting included Chairman of the Dangote Group, Aliko Dangote; Chairman of BUA Group, Abdul Samad Rabiu; Chairman of Heirs Holdings, Tony Elumelu; Group Chief Executive Officer of Pandora Plc, Wale Tinubu; Managing Director of Matrix Group, Abdullabir Aliu; Chief Executive Officer of Financial Derivative Company, Bismarck Rewane; and Director-General, Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadir.
- Femi Otedola, however, was not physically present in the meeting.
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What do you think will come out of a committee of sharks?
What will prevent the sharks from preying on the fish?
Some of the committee members should not have been invited.
For instance, the cement price is untouchable, yet the government invited the cement manufacturer to the committee.
One solution to the cement problem is to grant more licenses to other Nigerians, thus enabling competition. Common sense dictates that competition benefits the masses.