Theft of crude oil, according to President Muhammadu Buhari, must be stopped.
He said this while launching the Presidential Committee on National Economy, which he did on Friday in his office.
The President reminded them that the nation’s OPEC quota has declined by half as a result of economic sabotage, acknowledging the threat’s negative effects on the country’s income exchange.
Therefore, Buhari asked them to take on the particular challenge while reassuring them that his administration will work tirelessly to buck the trend.
Vice President Yemi Osinbajo, who also serves as the NEC’s chairman, Governor Aminu Tambuwal of Sokoto State, a representative of the Nigeria Governors’ Forum, and several cabinet members are among the committee’s members.
President Buhari defended the country’s borrowing rate at the inaugural meeting, saying it is essential to achieving infrastructure development.
He mentioned the nation’s resource mobilization as another cause for worry, noting that it has an impact on the country’s performance when compared to other nations.
The Presidential Committee is expected to assess the country’s economic situation, recommend policies to ensure that the economy advances, receive regular updates on the economy, identify problems that necessitate immediate action to improve macroeconomic and fiscal conditions, assess the effects of new and existing policies on the Nigerian economy, and give guidance to pertinent institutions in charge of fiscal, monetary, and other related matters.
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