President Tinubu presented the plan while inaugurating the Presidential Economic Coordination Council at the State House.Minister of Finance and Coordinating Minister of the Economy, Wale Edun, told reporters that the emergency funding will be deployed to health, agriculture, energy/power and other critical sectors.
He said: “They were presented with the outcomes of Mr. President’s review of the accelerated stabilisation and advancement plan. “In addition to a range of policy and tax measures, there is a range of executive orders which Mr. President has signed and which are being gazetted to ease the cost of doing business.
A statement issued later by Special Adviser to the President on Media and Publicity, Ajuri Ngelale, listed four components in the Economic Stabilisation Programme, which will run concurrently with the National Construction and Household Support Programme announced last week.They include energy security and the redeployment of 20,000 healthcare workers to provide services to 10-12 million patients in areas where they are most urgently needed.
He called for collaboration to increase power supply, saying: “We have the challenge of energy security. We need to work together.The President admitted that the generation capacity of about 4.5 gigawatts was not enough.