Nigeria’s economy can be turned around in months — Dangote

He made the statement today while briefing State House reporters after President Bola Tinubu inaugurated the Presidential Economic Coordination Council (PECC).

The PECC, tasked with devising a solution to the country’s current economic situation, is made up of government officials, top private sector players, and consultants such as Dangote; Chairman of the United Bank of Africa, Tony Elumelu; and the Chief Executive Officer of the Financial Derivatives Company Limited, Bismarck Rewane.

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, stated that the Council will convene and report to the President on a monthly basis.

Dangote commended the president’s effort, saying it will benefit both the country’s economy and the Nigerian people.

He noted that members of the council from both the commercial and public sectors would meet on a regular basis to advise the government on what policies should be implemented.

“Most of these things, we have them, there are already been discussed over and over again, it is a matter of implementation. I think the choice of people that are on the PECC, they are good enough to be able to advise government on how to implement the policies,” said Dangote, who is Africa’s richest man.

“The private sector will do its own bit which is to invest heavily and create jobs. Government don’t really create jobs, what they do is to give us the right policies. We have all these policies.

“I keep saying our issues are not that bad, this economy can be turned around within 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 battling inflation, high cost of living, and other economic crises sparked by the government’s twin policies of petrol subsidy removal and unification of forex windows.