Approval has been granted by President Bola Ahmed Tinubu for the establishment of the Presidential Economic Coordination Council, PECC, and the formation of the Economic Management Team Emergency Taskforce, EET. This strategic decision aims to strengthen the country’s economic governance structures and ensure effective and coordinated economic planning and execution.
An official statement released to State House correspondents on Wednesday by the President’s spokesperson, Ajuri Ngelale, revealed these developments.
The PECC will be chaired by President Tinubu with Vice President Shettima serving as the vice chairman. The council members include the President of the Nigerian Senate, chairperson of the Nigeria Governors’ Forum, Coordinating Minister for the Economy and Minister of Finance, Governor of the Central Bank of Nigeria, Minister of Agriculture and Food Security, Minister of Aviation and Aerospace Development, Minister of Budget and Economic Planning, Minister of Communications, Innovation, and Digital Economy, Minister of Industry, Trade and Investment, Minister of Labour and Employment, Minister of Marine and Blue Economy, Minister of Power, Minister of State (Petroleum Resources), Minister of State (Gas), Minister of Transportation, and Minister of Works.
Additionally, the PECC will feature prominent members from the organized private sector who will serve for a maximum period of one year, as directed by the President. The integrated members include Alhaji Aliko Dangote, Mr. Tony Elumelu, Alhaji Abdulsamad Rabiu, Ms. Amina Maina, Mr. Begun Ajayi-Kadir, Mrs. Funke Okpeke, and Dr. Doyin Salami, Mr. Patrick Okigbo, Mr. Kola Adesina, Mr. Segun Agbaje, Mr. Chidi Ajaere, Mr. Abdulkadir Aliu, and Mr. Rasheed Sarumi.
Moreover, the Economic Management Team Emergency Taskforce (EET) has been assigned the responsibility of developing and executing a consolidated emergency economic plan. Comprising key government officials and industry leaders, the taskforce aligns with the President’s cooperative strategy to drive economic resilience and growth.
Its core mandate is 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 establishment.