Tinubu shares 3-year economic vision, warns Ministers

The Federal Executive Council (FEC) has introduced a three-year economic revival plan to tackle the nation’s economic and social challenges.

President Bola Tinubu led the inaugural cabinet meeting at the Presidential Villa in Abuja, where he outlined his vision for “economic growth, prosperity for all, and ending poverty.”

Tinubu encouraged the ministers to focus on achieving the first phase of his administration’s eight-point agenda within three years. He reminded them that Nigeria is undergoing difficult times and called for a concerted effort to revitalize the economy.

The President emphasized the need for a homegrown approach to financial management and stewardship of resources, underscoring that the economy must serve the people of the country. He expressed his belief in the ministers’ capabilities to effect positive change in their respective ministries.

He also reiterated that ministerial appointments were not limited to fixed terms and urged the cabinet members to recognize that his government holds a fresh perspective and mandate to deliver for Nigeria without excuses.

Tinubu acknowledged the challenges faced by the country and assured the ministers that their expertise, skills, and networking would play a crucial role in overcoming these difficulties.

He stressed that the government’s policy implementation would focus on economic reform, inclusive growth, and strengthened security to ensure peace and prosperity. The President also highlighted the essential role of security in attracting investment.

Tinubu encouraged innovative thinking among the ministers, noting that their problem-solving abilities would shape his leadership as a President who listens. He expressed his readiness to cooperate, listen, and even be corrected, acknowledging that perfection is unattainable.

He concluded by telling the ministers that they face challenges, but with their dedication, the government would deliver results for Nigerians.

Regarding the economy, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, revealed that the Tinubu administration had inherited a troubled economy marked by high inflation, falling per capita income, and substantial unemployment. The government’s pledge is to improve the situation and create around 50 million jobs through the Ministry of Trade and Investment.

Edun emphasized that the focus is on creating a macro-economic environment that attracts both local and foreign investment and increases production. The government intends to avoid excessive borrowing and remain transparent, honest, and accountable to the people.

In summary, the FEC meeting outlined the President’s eight-point agenda for economic progress and emphasized the need for urgency and innovation in delivering improved livelihoods to all Nigerians.