The Global News reports that the President of Nigeria, Asiwaju Bola Tinubu has unveiled a robust economic governance framework aimed at enhancing Nigeria’s economic planning and execution. The initiative includes the establishment of the Presidential Economic Coordination Council (PECC) and the creation of the Economic Management Team Emergency Taskforce (EET).

The PECC, chaired by the President, comprises eminent leaders and government officials, including the Vice-President, Senate President, and Governors’ Forum Chairman, among others. Notably, private sector figures such as Alhaji Aliko Dangote and Mr. Tony Elumelu will also contribute for a specified period.

President Tinubu also set up the EET taskforce, headed by the Coordinating Minister for the Economy and Minister of Finance, is tasked with formulating and implementing a consolidated emergency economic plan. It includes key government officials and industry leaders.

The statement issued by the Special Adviser on Media and Publicity to the President, Ajuri Ngelale, delineated the composition of the PECC as follows:

(1) President of the Federal Republic of Nigeria – Chairman of the PECC

(2) Vice-President of the Federal Republic of Nigeria – Vice-Chairman of the PECC/NEC Chairman

(3) President of the Nigerian Senate

(4) Chairman, Nigeria Governors’ Forum

(5) Coordinating Minister for the Economy and Minister of Finance

(6) Governor of the Central Bank of Nigeria

(7) Minister of Agriculture and Food Security

(8) Minister of Aviation and Aerospace Development

(9) Minister of Budget and Economic Planning

(10) Minister of Communications, Innovation and Digital Economy

(11) Minister of Industry, Trade and Investment

(12) Minister of Labour and Employment

(13) Minister of Marine and Blue Economy

(14) Minister of Power

(15) Minister of State, Petroleum Resources

(16) Minister of State, Gas

(17) Minister of Transportation

(18) Minister of Works

The PECC will also comprise key members of the organized private sector, with the following members joining for a period not exceeding one (1) year, subject to the President’s directive:

(1) Alhaji Aliko Dangote

(2) Mr. Tony Elumelu

(3) Alhaji Abdulsamad Rabiu

(4) Ms. Amina Maina

(5) Mr. Begun Ajayi-Kadir

(6) Mrs. Funke Okpeke

(7) Dr. Doyin Salami

(8) Mr. Patrick Okigbo

(9) Mr. Kola Adesina

(10) Mr. Segun Agbaje

(11) Mr. Chidi Ajaere

(12) Mr. Abdulkadir Aliu

(13) Mr. Rasheed Sarumi

The Economic Management Team, which functions under the PECC, will suspend its meetings for six months to accommodate the EET’s mandate. This move underscores a unified strategy aimed at bolstering Nigeria’s economic management architecture.

The formation of these teams will complement existing structures such as the National Economic Council (NEC), chaired by the Vice-President.

The EET will prioritize the swift implementation, monitoring, and evaluation of critical initiatives over the next six months, aligning with President Tinubu’s vision for Nigeria’s economic advancement.

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