President Bola Tinubu has established the Presidential Economic Coordination Council (PECC), comprising himself, the Vice President, Senate President, and the Chairman of the Nigerian Governors Forum, among 27 others. This move, aimed at enhancing the nation’s economic governance framework, was announced in a statement by Tinubu’s Special Adviser on Media and Publicity, Ajuri Ngelale, titled ‘President Tinubu establishes comprehensive economic coordination and planning system for Nigeria.’ The PECC also includes members of the organized private sector, serving for one year.
Additionally, Tinubu formed the Economic Management Team Emergency Taskforce, comprising 19 individuals, as approved by the Federal Executive Council. Ngelale highlighted that these initiatives are strategically designed to ensure robust and coordinated economic planning and implementation.
The PECC’s members include President Tinubu as Chairman, Vice President Kashim Shettima as Vice-Chairman, and other key officials from various sectors. Notable private-sector members include Aliko Dangote, Tony Elumelu, and Abdulsamad Rabiu, among others.
Furthermore, Tinubu established the Economic Management Team Emergency Taskforce to address immediate economic challenges and implement emergency economic plans to achieve resilience and growth. The taskforce, led by the Coordinating Minister of the Economy and Minister of Finance, will meet twice weekly to devise and implement comprehensive economic interventions for 2024.
Ngelale emphasized that these teams, along with the existing Economic Management Team, signify a unified strategy to enhance Nigeria’s economic management architecture for improved performance.
