The Presidential Economic Coordination Council, PECC, and the creation of the Economic Management Team Emergency Taskforce, EET, have both been approved by President Bola Ahmed Tinubu.

The approvals result from a calculated attempt to strengthen the country’s frameworks for economic governance and guarantee thorough and well-coordinated economic planning and implementation, the President’s spokesperson, Ajuri Ngelale, noted in a statement to State House media on Wednesday.

According to the statement, Vice President Shettima is vice chairman of the PECC, while President Tinubu is chairman.

The Nigerian Senate President, the Chairman of the Nigeria Governors’ Forum, the Minister of Finance and the Coordinating Minister for the Economy, the Governor of the Central Bank of Nigeria, and the Minister of Agriculture and Food Security are among the council’s members.

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The others are the Ministers of Labor and Employment, Industry, Trade and Investment, Communications, Innovation, Digital Economy, Budget and Economic Planning, Aviation and Aerospace Development, and Marine and Blue Economy.

The Minister of Power, the Minister of State for Petroleum Resources, the Minister of State for Gas, the Minister of Transportation, and the Minister of Works are additional council members.

According to the statement, PECC will also include essential representatives from the organized private sector. These representatives will serve a maximum of one year following the President’s mandate.

Alhaji Aliko Dangote, Mr. Tony Elumelu, Mr. Begun Ajayi-Kadir, Alhaji Abdulsamad Rabiu, Ms. Amina Maina, Mrs. Funke Okpeke, and Dr. Doyin Salami are the incorporated members.

The others are Mr. Patrick Okigbo, Mr. Rasheed Sarumi, Mr. Abdulkadir Aliu, Mr. Segun Agbaje, Mr. Chidi Ajaere, and Mr. Kola Adesina.

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According to the statement, a comprehensive emergency economic strategy must be developed and implemented by the Economic Management Team Emergency Taskforce, EET.

As per the statement, the task force is composed of prominent government officials and leaders in the industry to support the President’s cooperative strategy for attaining economic growth and resilience.

Accordingly, within two weeks of its inauguration, it must present to the PECC a detailed plan of economic interventions for 2024, spanning the following six months, for prompt implementation.

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