In a strategic move aimed at fortifying Nigeria’s economic governance framework and ensuring effective planning and implementation, the Presidency has announced the establishment of two key entities: the Presidential Economic Coordination Council (PECC) and the Economic Management Team Emergency Taskforce (EET).
According to a statement by Ajuri Ngelale, Special Adviser on Media and Publicity to the President, the PECC will be chaired by the President of the Federal Republic of Nigeria, with the Vice-President serving as the Vice-Chairman and Chairman of the National Economic Council (NEC).
Other members include the President of the Nigerian Senate, the Chairman of the Nigeria Governors’ Forum, the Coordinating Minister for the Economy and Minister of Finance, the Governor of the Central Bank of Nigeria, and 12 ministers.
Additionally, key figures from the organized private sector will be invited to join the council for a period not exceeding one year, subject to the President’s directive.
Among these private sector leaders are Alhaji Aliko Dangote, Mr. Tony Elumelu, Alhaji Abdulsamad Rabiu, and Ms. Amina Maina, among others.
The formation of these teams is intended to complement existing economic governance structures, particularly the National Economic Council chaired by the Vice-President.
The EET, in particular, will focus on the rapid implementation, monitoring, and evaluation of critical initiatives over the next six months.
This initiative is aimed at strengthening the collective approach of the Tinubu-led administration in advancing Nigeria’s economic objectives.
With the establishment of the PECC and EET, the Presidency underscores its commitment to fostering robust economic planning and execution, leveraging both public and private sector expertise to drive sustainable economic growth and development in Nigeria.
