In a strategic maneuver aimed at fortifying the nation’s economic governance frameworks and ensuring vigorous and coordinated economic planning and execution, President Bola Ahmed Tinubu has sanctioned the establishment of the Presidential Economic Coordination Council (PECC) and the inception of the Economic Management Team Emergency Taskforce (EET),leadership reports.
The president has enlisted prominent figures from the private sector into the economic team, ostensibly to facilitate a fusion of diverse perspectives and ideas.
Among the private sector luminaries in the team are business magnate Aliko Dangote, banking tycoon Tony Elumelu, business icon Abdulsamad Rabiu, along with Ms. Amina Maina Begun Ajayi-Kadir, Funke Okpeke, Doyin Salami, Patrick Okigbo, Kola Adesina, Segun Agbaje, Chidi Ajaere, Abdulkadir Aliu, and Rasheed Sarumi.
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According to a statement by Presidential spokesperson Ajuri Ngelale, the PECC comprises esteemed leaders and key government officials, including the President of Nigeria as Chairman, the Vice-President as Vice-Chairman and NEC Chairman, the Senate President, 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, the Minister of Agriculture and Food Security, and the Minister of Aviation and Aerospace Development, among others.
Additionally, Ngelale disclosed that the PECC will include key representatives from the organized private sector, including Aliko Dangote, Tony Elumelu, Abdulsamad Rabiu, Ms. Amina Maina Begun Ajayi-Kadir, Funke Okpeke, Doyin Salami, Patrick Okigbo, Kola Adesina, Segun Agbaje, Chidi Ajaere, Abdulkadir Aliu, and Rasheed Sarumi, for a term not exceeding one year, subject to the President’s directives.
Furthermore, in a bid to address immediate economic challenges and ensure efficient execution of economic strategies, President Bola Tinubu has established the Economic Management Team Emergency Taskforce (EET) with a mandate to devise and implement a consolidated emergency economic plan.
Comprising government officials and industry leaders, the EET aims to submit a comprehensive plan of economic interventions for 2024 to the PECC within two weeks of its inauguration, covering the next six months.
The EET, chaired by the Coordinating Minister for the Economy and Minister of Finance, will convene twice weekly and includes members such as the Minister of Budget and Economic Planning, Minister of Power, Minister of Agriculture and Food Security, and other key stakeholders.
Ngelale emphasized that the PECC, EET, and EMT, collectively formed under the President’s leadership, signify a cohesive strategy to enhance Nigeria’s economic management architecture, complementing existing structures such as the National Economic Council (NEC).
He concluded that over the next six months, the EET will prioritize swift implementation, monitoring, and evaluation of crucial initiatives, reinforcing the Tinubu-led administration’s collaborative approach towards advancing Nigeria’s economic objectives.
