President Bola Ahmed Tinubu has given the green light for the establishment of the Presidential Economic Coordination Council (PECC) and the formation of the Economic Management Team Emergency Taskforce (EET).
In a statement released to State House correspondents on Wednesday by the President’s spokesperson, Ajuri Ngelale, it was highlighted that these approvals are part of a strategic effort to strengthen the nation’s economic governance frameworks. The aim is to ensure effective and coordinated economic planning and implementation.
The statement outlined that the PECC will be chaired by President Tinubu, with Vice President Shettima serving as vice chairman.
The council members include the President of the Nigerian Senate, the Chairman of the Nigeria Governors’ Forum, the Coordinating Minister for the Economy and Minister of Finance, the Governor of the Central Bank of Nigeria, and the Minister of Agriculture and Food Security.
Additionally, members comprise the Minister of Aviation and Aerospace Development, the Minister of Budget and Economic Planning, the Minister of Communications, Innovation, and Digital Economy, the Minister of Industry, Trade and Investment, the Minister of Labour and Employment, and the Minister of Marine and Blue Economy.
Also included in the council are the Minister of Power, the Minister of State (Petroleum Resources), the Minister of State (Gas), the Minister of Transportation, and the Minister of Works.
The statement further explains that the PECC will include key figures from the organized private sector, serving for a term not exceeding one year, subject to the President’s directive.
These incorporated members consist of Alhaji Aliko Dangote, Mr. Tony Elumelu, Alhaji Abdulsamad Rabiu, Ms. Amina Maina, Mr. Begun Ajayi-Kadir, Mrs. Funke Okpeke, and Dr. Doyin Salami.
Also listed are Mr. Patrick Okigbo, Mr. Kola Adesina, Mr. Segun Agbaje, Mr. Chidi Ajaere, Mr. Abdulkadir Aliu, and Mr. Rasheed Sarumi.
As per the statement, the Economic Management Team Emergency Taskforce (EET) has been tasked with formulating and executing a consolidated emergency economic plan.
Comprising key government officials and industry leaders, the taskforce aligns with the President’s collaborative approach to achieving economic resilience and growth.
It is mandated to present a comprehensive economic intervention plan for 2024 to the PECC, covering the upcoming six months, for immediate implementation within two weeks of its inauguration.