During the inaugural Federal Executive Council (FEC) meeting presided over by President Bola Tinubu, the Federal Government of Nigeria unveiled an 8-point agenda aimed at reviving the country’s ailing economy.
The government emphasized that it inherited a challenging economic situation with a high inflation rate of 24% and elevated unemployment levels.
The 8-point agenda includes priorities such as food security, poverty alleviation, economic growth, job creation, access to capital (particularly consumer credit), inclusivity (particularly for youths and women), improving security, enhancing the business environment, upholding the rule of law, and fighting corruption.
President Tinubu has given cabinet members a mandate to implement policies and programs to turn around the economy and improve the lives of Nigerians. The government also expressed its commitment to creating about 50 million jobs through the Ministry of Trade and Investment.
The administration aims to achieve these goals without relying on excessive borrowing and instead focus on creating a stable macroeconomic environment that attracts local and foreign investment, thereby increasing production and improving economic growth.
The unveiling of this agenda underscores the government’s recognition of the economic challenges facing the country and its determination to address them through focused and comprehensive policy initiatives.