President Bola Tinubu has announced a major shakeup of the nation’s economic governance structure by creating a new Presidential Economic Coordination Council (PECC) alongside an Economic Management Team Emergency Taskforce (EET) which comprises government officials and leading figures from the private sector.
Business moguls Aliko Dangote, Tony Elumelu, and Abdulsamad Rabiu are among the prominent names joining the council for a one-year term.
The PECC, chaired by President Tinubu himself, will serve as a high-level body tasked with providing strategic economic guidance.
It will be complemented by the newly formed Economic Management Team Emergency Taskforce (EET).
The EET, led by the Coordinating Minister for the Economy and Minister of Finance, is mandated to develop a comprehensive economic rescue plan within two weeks.
Its members include ministers, the central bank governor, and governors of Anambra, Ogun, and Niger, and Mallam Mele Kolo Kyari — the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), among others.
Notably, the EET will work intensively for the next six months, focusing on rapid implementation and monitoring of critical economic initiatives.
The existing Economic Management Team (EMT), established in October 2023, will be temporarily suspended for the duration of the EET’s mandate.
Tinubu’s spokesman, Chief Ajuri Ngelale, described the new structure as a “unified strategy” aimed at strengthening Nigeria’s economic management and achieving verifiable improvements.
Members Of The Presidential Economic Coordination Council (PECC) Are:
(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 Members Drawn From The Organised Private Sector Are:
(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 Emergency Taskforce (EET) Comprises Of The Following Members:
(1) Coordinating Minister for the Economy and Minister of Finance (Chairman of the EET)
(2) Minister of Budget and Economic Planning
(3) Minister of Power
(4) Minister of Agriculture and Food Security
(5) Coordinating Minister of Health and Social Welfare
(6) Minister of Industry, Trade and Investment
(7) Governor of the Central Bank of Nigeria
(8) National Security Adviser
(9) Chairman, Nigeria Governors’ Forum
(10) Governor of Anambra State
(11)Governor of Ogun State
(12)Governor of Niger State
(13)Executive Chairman, Federal Inland Revenue Service
(14)Director-General, Budget Office of the Federation
(15)GCEO, NNPC Limited, Mele Kyari
(16) Director-General, Nigeria Economic Summit Group
(17)Special Adviser to the President on Energy
(18)Dr. Bismarck Rewane, Economist
(19)Dr. Suleyman Ndanusa, Economist
The Economic Management Team Earlier Established In 2023 Has The Following Members:
(1) Coordinating Minister for the Economy and Minister of Finance (EMT Chairman)
(2) Governor of the Central Bank of Nigeria
(3) Minister of Budget and Economic Planning
(4) Minister of Industry, Trade and Investment
(5) Minister of Communications, Innovation and Digital Economy
(6) Minister of Works
(7) Minister of Labour and Employment
(8) Minister of Agriculture and Food Security
(9) Minister of State, Petroleum Resources
(10) Minister of State, Gas
(11)Minister of Power
(12)Minister of Transportation
(13)Minister of Aviation and Aerospace Development
(14)Minister of Marine and Blue Economy