“We are advising the government and the government is listening; this is very important…means so much to the private sector,” Rabiu told journalists after he held private talks with President Bola Tinubu, who is observing the Eid-el-Fitr holidays at his Lagos residence.
A member of the 31-man council, Rabiu urged Nigerians to exercise patience with the government, arguing that the benefits of the reforms would take time to materialise.
On March 27, 2024, President Tinubu established a Presidential Economic Coordination Council comprising himself, the Vice President, the Senate President and the Chairman of the Nigerian Governors Forum, among others.
The PECC also includes 13 ministers, the Central Bank of Nigeria Governor, Yemi Cardoso, and the Chairman of the Nigeria Governors’ Forum, Governor Abdulrahman Abdulrazaq of Kwara State, among others.
13 persons were also drawn from the organised private sector: Chairman of Dangote Group, Aliko Dangote; UBA Chairman, Mr. Tony Elumelu; BUA Founder, Abdulsamad Rabiu, among others.
The members of the organised private sector would serve on the council for a one-year tenure.
Rabiu hinted that the private sector is already playing its advisory role on the council, revealing that the government has been receptive to its advice.
“We are working together with the government, especially now that the President has established this committee between the government and the private sector.
“So we are working together, we are supporting each other, we are advising the government and the government is listening.
“This is very important; the fact that the government is listening. It means so much to the private sector, and I think we’ll get to the desired land,” he explained.
Like his counterpart, Aliko Dangote, noted in an earlier visit on Wednesday, the BUA Chief also foresaw a gradual drop in commodity prices owing to the naira’s performance in the Forex market.
However, he sought the patience of citizens, arguing that the reform efforts would require their support and understanding, too.
“I’m sure and confident that things will continue to come down. So, we need to be a bit more patient. Things are taking shape, and the government has done very well. This is the first time, I think, in many years that we have seen the dollar exchange rate converge; there is no official rate and no black market. There is only one rate.
“So we must commend the government for achieving that. We all need to come together and support the government and its policies. You know, the government means well, clearly, and they’re trying to support Nigerians.
“But we need to be patient. These reforms take time, without a doubt. It is not easy. It’s not something that can be done within one day,” said Rabiu.
Other members representing the organised private sector on the Presidential Economic Coordination Council are Ms Amina Maina, Mr Begun Ajayi-Kadir, Mrs Funke Okpeke and Dr Doyin Salami, Mr Patrick Okigbo, Mr Kola Adesina, Mr Segun Agbaje, Mr Chidi Ajaere, Mr Abdulkadir Aliu and Mr Rasheed Sarumi.
