President Bola Tinubu on Wednesday, announced the establishment of the Presidential Economic Coordination Council, PECC, and the creation of the Economic Management Team Emergency Taskforce, EET, comprising public and private sector economic policy experts across board.

This was made public via a statement issued by the Special Adviser to the President on Media and Publicity, Chief Ajuri Ngelale in Abuja.

According to the presidential spokesman, the establishment of the economic team is a strategic move to bolster the nation’s economic governance frameworks and ensure robust and coordinated economic planning and implementation.

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The Presidential Economic Coordination Council, PECC, comprises distinguished leaders and key government officials, including: President of the Federal Republic of Nigeria – Chairman of the PECC, Vice-President of the Federal Republic of Nigeria – Vice-Chairman of the PECC / NEC Chairman, President of the Nigerian Senate and the Chairman, Nigeria Governors’ Forum.

Others are 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 and Minister of Industry, Trade and Investment.

Also members are the 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 the Minister of Works.

The statement revealed that the PECC will also comprise key members of the organized private sector, with the following members joining for a period not exceeding one year, subject to the President’s directive: Alhaji Aliko Dangote, Mr. Tony Elumelu, Alhaji Abdulsamad Rabiu, Ms. Amina Maina, Mr. Begun Ajayi-Kadir, Mrs. Funke Okpeke, Dr. Doyin Salami, Mr. Patrick Okigbo, Mr. Kola Adesina, Mr. Segun Agbaje, Mr. Chidi Ajaere, Mr. Abdulkadir Aliu and Mr. Rasheed Sarumi.

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Furthermore, in his determination to address immediate economic challenges and ensure the streamlined execution of economic strategies, President Bola Tinubu has established the Economic Management Team Emergency Taskforce (EET) with a mandate to formulate and implement a consolidated emergency economic plan.

The taskforce, chaired by Minister of Finance, Wale Edun, comprises key government officials and industry leaders in furtherance of the President’s collaborative approach toward achieving economic resilience and growth.

“The EET is now mandated to submit a comprehensive plan of economic interventions for 2024 to the PECC, covering the next six (6) months, for immediate implementation within two weeks of its inauguration”, the statement said.

The EET will meet twice weekly and is composed of the Coordinating Minister for the Economy and Minister of Finance (Chairman of the EET), Minister of Budget and Economic Planning, Minister of Power, Minister of Agriculture and Food Security, and Coordinating Minister of Health and Social Welfare

Others are the Minister of Industry, Trade and Investment, Governor of the Central Bank of Nigeria, National Security Adviser, Chairman, Nigeria Governors’ Forum, Governor of Anambra State, Governor of Ogun State and the Governor of Niger State Other members are, the Executive Chairman, Federal Inland Revenue Service, Director-General, Budget Office of the Federation, GCEO, NNPC Limited, Director-General, Nigeria Economic Summit Group, Special Adviser to the President on Energy, Dr. Bismarck Rewane, Economist and Dr. Suleyman Ndanusa, Economist.