Nigeria’s leader, President Bola Ahmed Tinubu, has established a 31-member Presidential Economic Coordination Council (PECC) to bolster the nation’s economic landscape.
In an official statement disclosed on Wednesday by the Special Adviser to the President on Media and Publicity, Ajuri Ngelale, it was revealed that the PECC, under President Tinubu’s leadership, encompasses key governmental figures alongside representatives from the organised private sector.
Furthermore, President Tinubu has initiated the Economic Management Team Emergency Taskforce (EET), which received the green light from the Federal Executive Council (FEC).
According to the statement, the establishment of both the PECC and the EET signifies a strategic manoeuvre aimed at fortifying Nigeria’s economic governance infrastructure and ensuring the efficacious planning and execution of economic policies.
The PECC’s roster features President Tinubu as the Chairman, with Vice President Kashim Shettima serving as the Vice-Chairman, alongside other government officials, including ministers and governors. Notably, the council comprises 13 representatives from the organised private sector, among them notable personalities such as Alhaji Aliko Dangote and Mr. Tony Elumelu.
Conversely, the EET, entrusted with addressing immediate economic exigencies and implementing strategic economic manoeuvres, includes a blend of governmental authorities and industry magnates. This task force has been mandated to furnish the PECC with a comprehensive economic intervention blueprint for 2024 within a fortnight of its inception.
Furthermore, the statement noted the composition and duties of the Economic Management Team (EMT), which operates as a subsidiary entity under the auspices of the PECC.