President Bola Ahmed Tinubu has initiated two committees aimed at revitalizing the economy by ensuring comprehensive coordination and implementation of the Federal Government’s plan. The newly established Presidential Economic Coordination Council (PECC) and the Economic Management Team Emergency Taskforce (EET) were inaugurated following approval by the Federal Executive Council (FEC) on Monday.
Announcing these initiatives, Special Adviser to the President on Media and Publicity, Ajuri Ngelale, explained that the PECC, chaired by President Tinubu, comprises 31 members drawn from key government officials and the Organized Private Sector (OPS). On the other hand, the EET is led by the Minister of Finance and Coordinating Minister of the Economy, Mr. Olawale Edun.
The establishment of the PECC and EET signifies a strategic move to strengthen economic governance frameworks and ensure robust and coordinated planning and implementation. Notable members of the PECC include Vice President Kashim Shettima as Vice-Chairman, the Senate President, and various ministers and state governors.
Additionally, the PECC includes 13 key members from the organized private sector, including prominent figures such as Alhaji Aliko Dangote and Mr. Tony Elumelu. Meanwhile, the EET, chaired by Edun, aims to address immediate economic challenges and streamline the execution of economic strategies.
The task force, consisting of key government officials and industry leaders, is mandated to submit a comprehensive plan of economic interventions for 2024 to the PECC within two weeks of its inauguration. Members of the task force will meet twice weekly to ensure swift action and implementation.
The Economic Management Team, established in October 2023 and chaired by the Coordinating Minister for the Economy and Minister of Finance, will serve as the working group under the PECC. This cohesive approach underscores President Tinubu’s commitment to enhancing Nigeria’s economic management architecture and advancing the nation’s economic objectives.
