The Economic Management Team’s Emergency Taskforce (EET), established to formulate an immediate action plan required to restore stability, growth of, and confidence, in the nation’s economy  has developed a comprehensive plan to restore economic stability.

The EET, in accordance with its mandate, has identified five key sectors – agriculture, energy, support to businesses, health and social welfare, and macro-fiscal alignment – and proposed necessary interventions to achieve urgent economic stability.

In a statement by Mohammed Manga, Director of Information and Public Relations on Wednesday, the team comprised participants from federal government, state governments and advocacy groups such as the Manufacturing Association of Nigeria and the Nigeria Economic Summit Group to ensure a collaborative approach.

The proposed emergency package, the Accelerated Stabilisation and Actualisation Plan, has been presented to President Bola Ahmed Tinubu at the Presidential Villa, State House, Abuja by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun.

During the presentation, the Minister informed that the  plan aims to alleviate the impact of price increases on families, farmers, and businesses, in line with the Renewed Hope priorities.

The EET, he added, has proposed an emergency package to Mr. President and the Presidential Economic Coordination Council – The Accelerated Stabilisation and Actualisation Plan – which will provide an accelerated response originated from the aforementioned committees. 

The Minister informed further that the Plan, in addition with Executive Orders being developed by the Presidential Committee on Fiscal Policy and Tax Reforms to stem inflation, supports employment and promote non-oil exports to bolster the impact of the stabilisation plan.

He expressed confidence that the plan will help restore economic stability, promote growth, and improve the overall well-being of Nigerians.