Tinubu establishes Economic Coordination, Planning System for Nigeria

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By Mathew Dadiya, Abuja

President Bola Tinubu has in a strategic move to bolster the nation’s economic governance frameworks and ensure robust and coordinated economic planning and implementation, approved the establishment of the Presidential Economic Coordination Council (PECC) and the creation of the Economic Management Team Emergency Taskforce (EET).

The Presidential Economic Coordination Council (PECC) announced by the president through his spokesman, Ajuri Ngelale on Wednesday, comprised distinguished leaders and key government officials.

The key members include: 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; Chairman, 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; and Minister of Budget and Economic Planning.

Others are: 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.
Tinubu also included thirteen members of the organized private sector to drive the nation to a stabilized and industrial economy.

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; and Dr. Doyin Salami.

The rest members are: Mr. Patrick Okigbo; Mr. Kola Adesina; Mr. Segun Agbaje; Mr. Chidi Ajaere; Mr. Abdulkadir Aliu; and Mr. Rasheed Sarumi.

In the president’s 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 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 months, for immediate implementation within two weeks of its inauguration.

The EET will meet twice weekly and is composed of the following members: 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; Coordinating Minister of Health and Social Welfare; and Minister of Industry, Trade and Investment.