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Tinubu Injects N2trn To Stimulate Economy

Written by on July 5, 2024

President Bola Tinubu has approved the injection of N2 trillion into the economy to stimulate it.

The Finance Minister and Coordinating Minister of the Economy Wale Edun said Tinubu gave the approval on Thursday while unveiling an accelerated stabilisation and advancement plan.

He presented the plan while inaugurating the Presidential Economic Coordination Council (PECC) at the State House in Abuja, three months after a 30-member committee was constituted to revive the economy in the short term.

The move is coming when the Nigerian economy is facing serious challenges and inflation figures have reached new highs after the removal of fuel subsidy and the floating of the naira.

Labour unions are demanding improved wages, arguing that the cost of living hit new levels.

But Tinubu’s government has repeatedly called for patience and assured Nigerians that its reforms will yield dividends soonest.

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